Popular Vehicles and Services Ltd’s subsidiary, Imperion Cars, has signed an asset purchase agreement with Olympus Motors worth ₹97.5 million. The deal strengthens its dealership network, expands customer reach, and supports growth in India’s automotive retail sector, reflecting the company’s strategy to consolidate and diversify operations.
Popular Vehicles and Services Ltd has announced that its subsidiary, Imperion Cars Private Limited, has entered into an asset purchase agreement with Olympus Motors valued at ₹97.5 million. The deal marks a significant step in expanding Imperion Cars’ footprint in India’s automotive retail sector.
Key highlights of the announcement include:
-
The agreement involves the acquisition of Olympus Motors’ assets, strengthening Imperion Cars’ dealership and service network.
-
The ₹97.5 million transaction underscores Popular Vehicles’ strategy to consolidate operations and enhance customer reach.
-
This move is expected to improve market penetration, particularly in regions where Olympus Motors has established presence.
-
The deal reflects the company’s broader ambition to scale up its automotive distribution business and diversify revenue streams.
Industry experts note that consolidation in the dealership space is becoming increasingly common, as companies aim to leverage synergies and improve efficiency. For Popular Vehicles, this acquisition positions Imperion Cars to capture greater market share while reinforcing its brand presence in India’s competitive automobile sector.
Sources: Reuters, PTRS Corporate Announcement, Business Standard