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 Date | September 13, 2024 to September 19, 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 |
| Share holding pre issue | 15,008,000 |
| Share holding post issue | 20,378,000 |
| Market Maker portion | 270,000 shares |
Popular Foundations IPO Timeline
| 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
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹111,000 |
| Retail (Max) | 1 | 3000 | ₹111,000 |
| HNI (Min) | 2 | 6,000 | ₹222,000 |
Popular Foundations IPO Promoter Holdings
The promoters of the Company are Mr. Ananthanarayanan Sankaralingam Venkatesh and Mrs. Vinita Venkatesh.
| Share Holding Pre Issue | 83.36% |
| Share Holding Post Issue | 61.39% |
Popular Foundations IPO Reservation
| 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 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 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.