Fixed Price IPO | ₹20 Cr | Listed at BSE SME | Fri, Sep 13, 2024 - Thu, Sep 19, 2024
Popular Foundations IPO is a fixed price issue of ₹19.87 crores. The issue is entirely a fresh issue of 0.54 crore shares of ₹19.87 crore.
Popular Foundations IPO bidding started from Sep 13, 2024 and ended on Sep 19, 2024. The allotment for Popular Foundations IPO was finalized on Sep 20, 2024. The shares got listed on BSE SME on Sep 24, 2024.
Popular Foundations IPO price is ₹37 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,11,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,22,000.
Srujan Alpha Capital Advisors LLP is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Spread X Securities Pvt.Ltd..
Refer to Popular Foundations IPO RHP for detailed Information.
IPO Open
Fri, Sep 13, 2024
IPO Close
Thu, Sep 19, 2024
Issue Price
₹37 per share
Market Cap (Pre-IPO)
₹75.40 Cr
| IPO Date | 13 to 19 Sep, 2024 |
| Listed on | Tue, Sep 24, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹37 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 53,70,000 shares (agg. up to ₹20 Cr) |
| Reserved for Market Maker | 2,70,000 shares Spread X Securities Pvt.Ltd. (agg. up to ₹0.9990 Cr) |
| Fresh Issue (Ex Market Maker) | 51,00,000 shares (agg. up to ₹19 Cr) |
| Net Offered to Public | 51,00,000 shares (agg. up to ₹19 Cr) |
| Share Holding Pre Issue | 1,50,08,000 shares |
| Share Holding Post Issue | 2,03,78,000 shares |
| BSE Script Code | 544259 |
| ISIN | INE0PZB01013 |
Popular Foundations IPO comprises a total issue size of 53,70,000 shares. The net offer to the public is 51,00,000 shares, after excluding 2,70,000 shares allotted on a firm basis. Of the Net offer 25,50,000 (50.00%) allocated to NII 25,50,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 25,50,000 | 50.00% | 47.49% |
| Retail Shares Offered | 25,50,000 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,70,000 | 5.03% | |
| Total Shares Offered | 53,70,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,11,000 |
| Retail (Max) | 1 | 3,000 | ₹1,11,000 |
| HNI (Min) | 2 | 6,000 | ₹2,22,000 |
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.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 63.55 | 48.65 | 49.29 |
| Total Income | 51.91 | 48.67 | 26.30 |
| Profit After Tax | 3.48 | 1.20 | 0.48 |
| NET Worth | 23.13 | 14.84 | 13.84 |
| Reserves and Surplus | 8.12 | 13.84 | 12.84 |
| Total Borrowing | 15.78 | 17.54 | 18.35 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; | 4.94 |
| 2 | Funding the working capital requirements of the Company; and | 11.86 |
| 3 | General corporate purposes | 1.08 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 23.17% |
| ROCE | 22.77% |
| RoNW | 15.03% |
| PAT Margin | 6.70% |
| Price to Book Value | 2.30 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.32 | 1.71 |
| P/E (x) | 15.97 | 21.68 |
| Promoter Holding | 83.36% | 61.39% |
| Market Cap | ₹75.40 Cr. |
The Popular Foundations IPO is subscribed 9.21 times on September 19, 2024 6:16:10 PM (Day 5). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 3.54 | 25,50,000 | 90,33,000 |
| Retail | 14.89 | 25,50,000 | 3,79,62,000 |
| Total | 9.21 | 51,00,001 | 4,69,95,000 |
Total Application : 23,785
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including Merchant Banking fees, Underwriting fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 1.72 |
| 2 | Advertising and Marketing Expenses | 0.20 |
| 3 | Fees payable to the stock exchange(s) | 0.04 |
| 4 | Printing & Stationery, Distribution, Postage, etc. | 0.03 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹37.00 |
| Open | ₹37.00 |
| Low | ₹35.15 |
| High | ₹37.50 |
| Last Trade | ₹37.07 |
Lead Manager Reports
Popular Foundations IPO is a SME IPO of 53,70,000 equity shares of the face value of ₹10 aggregating up to ₹20 Crores. The issue is priced at ₹37 per share. The minimum order quantity is 3000.
The IPO opens on Fri, Sep 13, 2024, and closes on Thu, Sep 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 Fri, Sep 13, 2024 and closes on Thu, Sep 19, 2024.
Popular Foundations IPO lot size is 3000, and the minimum amount required for application is ₹1,11,000.
You can apply in Popular Foundations IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Mon, Sep 23, 2024. Check the Popular Foundations IPO allotment status.
The Popular Foundations IPO listing date is on Tue, Sep 24, 2024.
