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Popular Foundations Limited IPO (Popular Foundations IPO) Detail

September 13, 2024 - September 19, 2024

Popular Foundations IPO is a fixed price issue of Rs 19.87 crores. The issue is entirely a fresh issue of 53.7 lakh shares.

Popular Foundations IPO bidding started from September 13, 2024 and ended on September 19, 2024. The allotment for Popular Foundations IPO was finalized on Friday, September 20, 2024. The shares got listed on BSE SME on September 24, 2024.

Popular Foundations IPO price is ₹37 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹111,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹222,000.

Srujan Alpha Capital Advisors Llp is the book running lead manager of the Popular Foundations IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Popular Foundations IPO is Spread X Securities.

Refer to Popular Foundations IPO RHP for detailed information.

Popular Foundations IPO Details

IPO Date September 13, 2024 to September 19, 2024
Listing Date September 24, 2024
Face Value ₹10 per share
Price ₹37 per share
Lot Size 3000 Shares
Total Issue Size5,370,000 shares
(aggregating up to ₹19.87 Cr)
Fresh Issue5,370,000 shares
(aggregating up to ₹19.87 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Share holding pre issue15,008,000
Share holding post issue20,378,000
Market Maker portion270,000 shares
Spread X Securities

Popular Foundations IPO Reservation

Popular Foundations IPO offers 53,70,001 shares. 25,50,000 (47.49%) to NII, 25,50,000 (47.49%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered2,70,000 (5.03%)
Other Shares Offered25,50,000 (47.49%)
Retail Shares Offered25,50,000 (47.49%)
Total Shares Offered53,70,001 (100%)

Popular Foundations IPO Timeline (Tentative Schedule)

Popular Foundations IPO opens on September 13, 2024, and closes on September 19, 2024.

IPO Open Date Friday, September 13, 2024
IPO Close Date Thursday, September 19, 2024
Basis of Allotment Friday, September 20, 2024
Initiation of Refunds Monday, September 23, 2024
Credit of Shares to Demat Monday, September 23, 2024
Listing Date Tuesday, September 24, 2024
Cut-off time for UPI mandate confirmation 5 PM on September 19, 2024

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
HNI (Min) 2 6,000 ₹222,000
Lot Size Calculator

Popular Foundations IPO Promoter Holding

The promoters of the Company are Mr. Ananthanarayanan Sankaralingam Venkatesh and Mrs. Vinita Venkatesh.

Share Holding Pre Issue 83.36%
Share Holding Post Issue 61.39%

About Popular Foundations Limited

Founded in 1998, Popular Foundations Limited specializes in engineering and construction services and offers comprehensive end-to-end solutions in the construction sector.

The company is dedicated to construction practice in various sectors such as factories, educational institutions, and commercial and residential projects. However, the company strategically focuses on non-residential and non-government construction projects in and around Chennai. Apart from Chennai, the company has successfully executed projects in Pondicherry, Tanjore, Bangalore, Trichy, Madurai, Vizhuppuram and Coimbatore.

Competitive strengths:

  • Experienced management team: The company's management team has experience in the industry and is responsible for the growth of operations and financial performance.
  • On-time delivery and reputation building: By ensuring that projects are completed on time, the company empowers consumers to make informed decisions. In addition, completing projects on time helps improve the company's reputation in the marketplace, giving the company a competitive advantage.
  • Quality design: The company's commitment to quality design sets it apart from the competition and ensures that its properties stand out in terms of aesthetics and functionality.
  • Robust business model: The company's business model is a comprehensive framework that focuses on customer orientation, fair pricing and strategic market positioning.
  • Established brand and reputation: The company offers its customers added value that helps to gain their trust. The brand and reputation with customers have not only contributed to the company's success, but have also positioned it for future business opportunities.

As of September 07, 2024, the company employed 86 employees on-site and at headquarters, including senior executives.

Company Financials

Popular Foundations Limited Financial Information (Restated)

Popular Foundations Limited's revenue increased by 7% and profit after tax (PAT) rose by 191% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended31 Mar 202431 Mar 202331 Mar 2022
Assets6,354.874,864.74,929.49
Revenue5,1914,866.892,630.17
Profit After Tax347.76119.6148.08
Net Worth2,313.111,483.691,384.08
Reserves and Surplus812.311,383.691,284.08
Total Borrowing1,578.41,753.991,835.37
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Popular Foundations IPO is Rs 75.4 Cr.

KPI as of March 31, 2024.

KPI Values
ROE23.17%
ROCE22.77%
RoNW15.03%
P/BV2.3
PAT Margin (%)6.7
Pre IPO Post IPO
EPS (Rs) 2.321.71
P/E (x) 15.9721.68
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.

Objects of the Issue (Popular Foundations IPO Objectives)

The Company proposes to utilize the Net Proceeds towards funding the following objects:

  1. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company;
  2. Funding the working capital requirements of the Company; and
  3. General corporate purposes.

Popular Foundations IPO Review (Avoid)

[Dilip Davda]  The company is in the construction business with related service offerings. It posted growth in top and bottom lines for the reported periods, but higher net for FY24 raises eyebrows. It is operating in a highly competitive and fragmented segment. This can be termed as “High Risk/Low Return” bet and may be skipped. Read detail review...


Popular Foundations IPO Subscription Status (Bidding Detail)

The Popular Foundations IPO is subscribed 9.21 times on September 19, 2024 6:16:10 PM. The public issue subscribed 14.89 times in the retail category, times in the QIB category, and 3.54 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
Other3.54
Retail14.89
Total9.21

Total Application : 23,785 (27.98 times)

Popular Foundations IPO Prospectus

Popular Foundations IPO Rating

2
3.0
Rating:Rated 3.0 stars
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Popular Foundations IPO Listing Details

Listing Date September 24, 2024
BSE Script Code 544259
NSE Symbol
ISIN INE0PZB01013
Final Issue Price ₹37 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE SME
₹37.00
₹37.00
₹35.15
₹37.50
₹37.07

Check IPO Performance…

Popular Foundations Limited Contact Details

Popular Foundations Limited
New No. 32/1, 32/2, Old No. 9/1, 9/2,
Kamatchi Apartment, 10th Avenue,
Ashok Nagar, Chennai - 600083
Phone: +91 941498731
Email: info@grouppopular.com
Website: http://www.grouppopular.com/

Popular Foundations IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html

Popular Foundations IPO - Buy or Not

Popular Foundations IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 0

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Popular Foundations IPO FAQs

Popular Foundations IPO is a SME IPO of 5,370,000 equity shares of the face value of ₹10 aggregating up to ₹19.87 Crores. The issue is priced at ₹37 per share. The minimum order quantity is 3000 Shares.

The IPO opens on September 13, 2024, and closes on September 19, 2024.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Zerodha customers can apply online in Popular Foundations IPO using UPI as a payment gateway. Zerodha customers can apply in Popular Foundations IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Popular Foundations IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Popular Foundations IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Popular Foundations IPO opens on September 13, 2024 and closes on September 19, 2024.

Popular Foundations IPO lot size is 3000 Shares, and the minimum amount required is ₹111,000.

You can apply in Popular Foundations IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Popular Foundations IPO will be done on Friday, September 20, 2024, and the allotted shares will be credited to your demat account by Monday, September 23, 2024. Check the Popular Foundations IPO allotment status.

The Popular Foundations IPO listing date is on September 24, 2024.
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