Popular Vehicles and Services (NSE:PVSL, BOM:544144) has received a letter of intent from Maruti Suzuki India (NSE:MARUTI, BOM:532500) to set up a new independent True Value outlet for pre-owned vehicles at Bangalore in Karnataka, India.
The new facility is estimated to have a capacity to display up to 15 vehicles on-site, according to a Tuesday filing to the Indian stock exchanges.
The outlet is expected to start operations at the end of August.
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