Popular Foundations Limited IPO Details 2024!

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

The IPO opened for subscription on September 13, 2024, and will close on September 19, 2024, with the allotment expected on September 20, 2024. It is set to list on the BSE SME, with a tentative listing date of September 24, 2024.

Priced at ₹37 per share, the minimum application size is 3,000 shares, requiring a retail investment of ₹111,000. For HNIs, the minimum investment is ₹222,000 (6,000 shares). Srujan Alpha Capital Advisors LLP is the lead manager, with Bigshare Services Pvt. Ltd. as the registrar, and Spread X Securities as the market maker.

Below are the details of Popular Foundations IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.

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Popular Foundations IPO Details

IPO DateSeptember 13, 2024 to September 19, 2024
Listing Date[.]
Face Value₹10 per share
Price₹37 per share
Lot Size3000 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 TypeFixed Price Issue IPO
Listing AtBSE SME
Share holding pre issue15,008,000
Share holding post issue20,378,000
Market Maker portion270,000 shares

Popular Foundations IPO Timeline

IPO Open DateFriday, September 13, 2024
IPO Close DateThursday, September 19, 2024
Basis of AllotmentFriday, September 20, 2024
Initiation of RefundsMonday, September 23, 2024
Credit of Shares to DematMonday, September 23, 2024
Listing DateTuesday, September 24, 2024
Cut-off time for UPI mandate confirmation5 PM on September 19, 2024

Popular Foundations IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)13000₹111,000
Retail (Max)13000₹111,000
HNI (Min)26,000₹222,000

Popular Foundations IPO Promoter Holdings

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

Share Holding Pre Issue83.36%
Share Holding Post Issue61.39%

Popular Foundations IPO Reservation

Investor CategoryShares 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 Financial Information

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

Popular Foundations IPO Review

Popular Foundations Ltd. (PFL) has over 25 years of experience specializing in engineering and construction, focusing on non-residential and non-governmental civil projects around Chennai. Its expertise spans engineering, architecture, and fit-outs, earning recognition among educational institutions and commercial sectors.

The company is launching an IPO to raise Rs. 19.87 crores through the issuance of 53.7 lakh shares at Rs. 37 per share. The funds will be used for debt repayment, working capital, and corporate purposes. Financial performance shows growth, but the sharp increase in FY24 profits raises concerns. The IPO is priced fully, making it a “High Risk/Low Return” investment, best approached cautiously.

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