Popular is a part of 75 year-old Kerala based Kuttukaran - Popular Group (“Group”), which is amongst the leading retailer of passenger and commercial vehicles in India and also operates a significantly large automobile servicing business. Popular operates one of the largest car servicing business in India, with close to 45 service centers and catering to more than 500,000 cars in a year. It is also amongst the top three dealers of Maruti Suzuki (“Maruti”) which commands close to 48% market share in India, and contributes a significant portion of Maruti’s revenue from Kerala. Popular, hence holds a very important position in Maruti’s ecosystem.

Apart from the car servicing business, Popular operates a chain of showrooms covering the southern states of Kerala, Tamil Nadu and Karnataka. Further, it has set up retail outlets to cover the rural and tier 2 cities. Besides Maruti, Popular has a franchisee of Honda (in premium car segment) and Jaguar Land Rover (in luxury car segment). This enables the Group to diversify its product offerings across all segments. It also has dealerships of genuine spare parts for Maruti and Tata Passenger Cars, primarily catering to the needs of retail and standalone service centers. An investment by BanyanTree will enable Company to add new showrooms and service centres across categories and regions. BanyanTree has a representation on the Board.