There is good chance that everyone in Kochi has heard of Popular Vehicles and Services. There is a good chance you might have bought a car from them too. They are one of the biggest car dealerships in the state operating for nearly 25 years now and is also one of Maruthi Udyog’s biggest dealership in the country. And now New Silk Route (NSR), a private equity is all set to invest Rs 110 cr in this Kochi based company for a significant minority stake.

With around 22 after sales service centers scattered around they have planned a steep growth in the next 3 years. Once the deal goes through NSR will have a 26% stake in the company

NSR started investing in India early last year already completing several deals and buyouts.They mainly invested in unlisted companies dealing in manufacturing, infrastructure, financial services, telecom and IT and consumer business. Recently they acquired a 5% stake in Reliance Telecom Infrastructure, a 72% stake in Aster Infrastructure.