Popular Vehicles and Services Ltd (PVSL) has announced the completion of the divestment of its step-down subsidiary, Vision Motors Private Limited (VMPL), effective August 25, 2025.
In a regulatory filing made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company confirmed that the sale of 100% of the shares in Vision Motors Private Limited has been finalized. The stake was held through Popular Mega Motors (India) Private Limited, a wholly-owned subsidiary of PVSL, along with its nominee.
This announcement follows earlier disclosures by the company on February 12, 2025, and May 29, 2025, when the Board of Directors of Popular Vehicles and Services Ltd approved the proposal for the sale.
PVSL secured multiple letters of intent for network expansion, including establishment of Ather facilities in Chennai, Tamil Nadu, with operations expected to begin in the first week of September. The company also received approval from Maruti Suzuki to set up a new True Value outlet for pre-owned vehicles in Bangalore, Karnataka, with operations commencing by end of August 2025.
The company obtained letters of intent to establish eight 3S facilities for BharatBenz in Punjab state.
PVSL’s subsidiaries received several industry awards during the quarter. Popular Autoworks Pvt Ltd earned the All-India 1st Runner-Up Award for ‘Retail of the Year 2024-25’ from JLR and ranked number one in new bookings and new bookings growth across the JLR network in India. PVSL received the ‘Dealer with the Highest Paid Service to Sales Ratio’ award for NEXA from Maruti Suzuki.
Popular Mega Motors (India) Pvt Ltd won multiple accolades from Tata Motors, including Best Customer Success Centre – South India for May and June, and Spares parts ‘Highest Volume Growth’ – FY25 in South India.
The company reported encouraging pre-festive footfalls across all segments and increasing demand in the two-wheeler electric segment. PVSL noted that it typically increases inventory during Q1 as part of festive season preparedness, resulting in sequential inventory level increases.