Popular Vehicles & Services’ 100% step-down subsidiary -- Prabal Motors has successfully executed a Business Transfer Agreement (BTA) to acquire the BharatBenz dealership operations from Globe CV in the state of Punjab. With this transaction, Prabal Motors will operate eight state-of-the-art facilities spread across key cities of Punjab. 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 will include the transfer of entire business units, including the new vehicle inventory, assets and manpower strength for a consideration of Rs 12 crore. Currently, the vehicle inventory is worth Rs 22 crore. With this strategic expansion, the company will extend 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.

Popular Vehicles & Services is engaged in the business of automobile dealerships in India. It provides complete services throughout the life cycle of vehicle ownership, including sales of new and preowned vehicles, servicing, spare parts distribution, driving schools, and third-party financial and insurance product sales.