Popular Foundations Limited IPO
Popular Foundations Limited IPO opens on September 13, 2024, and closes on September 18, 2024. The allotment for the Popular Foundations Limited IPO is anticipated to be completed on Thursday, September 19, 2024. The IPO will be tentatively listed on the BSE and SME on Monday, September 23, 2024.
Popular Foundations Limited IPO’s price band is Rs 37 per share. The IPO is a book-built issue of Rs 19.87 crores. The issue is entirely a fresh issue of 53.7 lakh shares.
Popular Foundations IPO Details
| IPO Date | September 13, 2024 to September 18, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹37 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 5,370,000 shares (aggregating up to ₹19.87 Cr) |
| Fresh Issue | 5,370,000 shares (aggregating up to ₹19.87 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Shareholding pre-issue | 15,008,000 |
| Shareholding post-issue | 20,378,000 |
| Market Maker portion | 270,000 shares |
Popular Foundations IPO Lot Size
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 3000 | ₹111,000 |
| Retail (Max) | 1 | 3000 | ₹111,000 |
| S-HNI (Min) | 2 | 6000 | ₹333,000 |
Popular Foundations IPO Objectives
The Company proposes to utilize the Net Proceeds towards funding the following objects:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company;
- Funding the working capital requirements of the Company; and
- General Corporate Expenses
About Popular Foundations Limited
Founded in 1998, Popular Foundations Limited excels in engineering and construction, offering end-to-end solutions with a focus on non-residential projects in Chennai and other southern cities like Pondicherry and Bangalore. Known for its experienced management team, timely project delivery, and commitment to quality design, the company builds a solid reputation and strategic market position. Its robust business model emphasizes customer orientation and fair pricing, supported by a trusted brand. As of September 2024, the company employs 86 professionals, including senior executives.
Popular Foundations Limited Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 6,354.87 | 4,864.7 | 4,929.49 |
| Revenue | 5,191 | 4,866.89 | 2,630.17 |
| Profit After Tax | 347.76 | 119.61 | 48.08 |
| Net Worth | 2,313.11 | 1,483.69 | 1,384.08 |
| Reserves and Surplus | 812.31 | 1,383.69 | 1,284.08 |
| Total Borrowing | 1,578.4 | 1,753.99 | 1,835.37 |
| Amount in ₹ Lakhs |
Popular Foundations IPO Reservation
| Investor Category | Shares Offered |
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Popular Foundations IPO Timeline
Popular Foundations IPO opens on September 13, 2024, and closes on September 18, 2024.
| IPO Open Date | Friday, September 13, 2024 |
| IPO Close Date | Wednesday, September 18, 2024 |
| Basis of Allotment | Thursday, September 19, 2024 |
| Initiation of Refunds | Friday, September 20, 2024 |
| A credit of Shares to Demat | Friday, September 20, 2024 |
| Listing Date | Monday, September 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 18, 2024 |
