Popular Vehicles and Services Ltd Approves Acquisition of R.K.S. Motor Private Limited for up to Rs. 93 Crores

Popular Vehicles and Services Ltd has announced that its Board of Directors approved the acquisition of the business of R.K.S. Motor Private Limited via slump sale on a going concern basis. The lump sum purchase consideration will not exceed Rs. 93,00,00,000. The acquisition is subject to fulfilment of conditions precedents as mentioned in the Agreement. The company also announced plans to incorporate a new step-down subsidiary and evaluate opportunities for another luxury dealership brand.