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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.
| 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 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 |
| Share holding pre issue | 15,008,000 |
| Share holding post issue | 20,378,000 |
| Market Maker portion | 270,000 shares Spread X Securities |
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 Offered | 2,70,000 (5.03%) |
| Other Shares Offered | 25,50,000 (47.49%) |
| Retail Shares Offered | 25,50,000 (47.49%) |
| Total Shares Offered | 53,70,001 (100%) |
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 |
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 | |||
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% |
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:
As of September 07, 2024, the company employed 86 employees on-site and at headquarters, including senior executives.
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 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 | ||||||||||||||||||||||||||||||
The market capitalization of Popular Foundations IPO is Rs 75.4 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 23.17% |
| ROCE | 22.77% |
| RoNW | 15.03% |
| P/BV | 2.3 |
| PAT Margin (%) | 6.7 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.32 | 1.71 |
| P/E (x) | 15.97 | 21.68 |
The Company proposes to utilize the Net Proceeds towards funding the following objects:
[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...
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)
| Category | Subscription (times) |
|---|---|
| Other | 3.54 |
| Retail | 14.89 |
| Total | 9.21 |
Total Application : 23,785 (27.98 times)
| Listing Date | September 24, 2024 |
| BSE Script Code | 544259 |
| NSE Symbol | |
| ISIN | INE0PZB01013 |
| Final Issue Price | ₹37 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹37.00 |
| ₹37.00 |
| ₹35.15 |
| ₹37.50 |
| ₹37.07 |
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/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
SME Company Owners
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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
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.
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