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Prabal Motors completes acquisition of BharatBenz dealership operations in Punjab from Globe CV Private Limited

Posted On : 2025-08-20 22:15:48( TIMEZONE : IST )

Popular Vehicles & Services Limited (NSE: PVSL, BSE: 544144), one of India's leading fully integrated automotive dealership players, is pleased to announce that its 100% step-down subsidiary, Prabal Motors Pvt. Ltd., has successfully executed a Business Transfer Agreement (BTA) to acquire the BharatBenz dealership operations from Globe CV Private Limited in the state of Punjab.

With this transaction, Prabal Motors will operate eight state-of-the-art facilities spread across key cities of Punjab. With this acquisition, we will be well-positioned to capture a significant share of this growing market. For Globe CV, this business was a non-core operation, growing at a gradual pace. Backed by the expertise of Prabal Motors and a unique presence of facilities, we believe will be able to achieve stronger & sustainable growth.

Out of the eight facilities, seven are integrated 3S outlets (Sales, Service and Spare Parts), while one is dedicated to after-market spare parts. The acquisition includes the transfer of entire business units, including the new vehicle inventory, assets and manpower strength for a consideration of ₹12 crores. As of today, the vehicle inventory is worth ₹22 crores.

With this strategic expansion, PVSL extends its geographic presence of its CV portfolio in Northern India, building on its strong presence in Maharashtra and Tamil Nadu, and reinforces its long-standing partnership with the BharatBenz brand.

These eight facilities, strategically located across Punjab, integrate modern showrooms, advanced service workshops with a total of 32 service bays, spare parts distribution, and preowned vehicle operations under one roof. With this acquisition, Prabal Motors becomes the exclusive dealer partner for BharatBenz in Punjab, delivering an enhanced sales and service experience to customers.

In FY25, Globe CV reported revenues of ~₹250 crores and employed a workforce of 222.

Commenting on this development, Mr. Naveen Philip, Promoter and MD, Popular Vehicles and Services Limited said, "We are pleased to announce the successful acquisition of BharatBenz dealership operations in Punjab from Globe CV, further solidifying our presence in Northern India. With this acquisition, we now operate eight strategically located facilities in the major cities across the state, making us the exclusive dealer partner for BharatBenz in Punjab.

This transaction marks a major step forward in our long-term growth strategy of expanding beyond our strongholds in Kerala, Tamil Nadu and Maharashtra, positioning us as a pan-India player in the commercial vehicle retail and service ecosystem.

Punjab is a key market with significant potential in both freight and passenger movement. We are confident that our entry will enable us to capture this opportunity while delivering a superior customer experience. The addition of an experienced workforce and well-established operations will ensure seamless integration, while strengthening our partnership with Daimler India Commercial Vehicles.

As we scale our commercial vehicle business into newer geographies, we remain committed to investing in capability-building, technology-driven service excellence, and customer-centric solutions."

Shares of Popular Vehicles and Services Limited was last trading in BSE at Rs. 118.80 as compared to the previous close of Rs. 117.60. The total number of shares traded during the day was 2899 in over 235 trades.

The stock hit an intraday high of Rs. 120.75 and intraday low of 117.85. The net turnover during the day was Rs. 346695.00.