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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 ₹37.00 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). The minimum lot size investment for 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 Date | September 13, 2024 to September 19, 2024 |
| Listing Date | September 24, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹37 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 53,70,000 shares (aggregating up to ₹19.87 Cr) |
| Reserved for Market Maker | 2,70,000 shares Spread X Securities Pvt.Ltd. (aggregating up to ₹0.9990 Cr) |
| Net Offered to Public | 51,00,000 shares (aggregating up to ₹18.87 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,50,08,000 shares |
| Share Holding Post Issue | 2,03,78,000 shares |
Popular Foundations IPO offers total 53,70,000 shares. Out of which 25,50,000 (47.49%) allocated to NII, 25,50,000 (47.49%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,70,000 (5.03%) |
| NII (HNI) Shares Offered | 25,50,000 (47.49%) |
| Retail Shares Offered | 25,50,000 (47.49%) |
| Total Shares Offered | 53,70,000 (100.00%) |
Popular Foundations IPO opens on September 13, 2024, and closes on September 19, 2024.
| IPO Open Date | Fri, Sep 13, 2024 |
| IPO Close Date | Thu, Sep 19, 2024 |
| Tentative Allotment | Fri, Sep 20, 2024 |
| Initiation of Refunds | Mon, Sep 23, 2024 |
| Credit of Shares to Demat | Mon, Sep 23, 2024 |
| Tentative Listing Date | Tue, Sep 24, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Sep 19, 2024 |
Investors can bid for a minimum of 3,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 |
| Total Income | 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 ₹75.40 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 23.17% |
| ROCE | 22.77% |
| RoNW | 15.03% |
| PAT Margin | 6.70% |
| Price to Book Value | 2.30 |
| 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...
| Listing Date | September 24, 2024 |
| BSE Script Code | 544259 |
| NSE Symbol | |
| ISIN | INE0PZB01013 |
| Final Issue Price | ₹37 per share |
| BSE Listing Group | M |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹37.00 |
| Open | ₹37.00 |
| Low | ₹35.15 |
| High | ₹37.50 |
| Last Trade | ₹37.07 |
Popular Foundations Ltd.
New No. 32/1, 32/2, Old No. 9/1, 9/2,
Kamatchi Apartment, 10th Avenue,
Ashok Nagar
Chennai, Tamil Nadu, 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
Popular Foundations IPO is a SME IPO of 53,70,000 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.
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, 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 Monday, September 23, 2024. Check the Popular Foundations IPO allotment status.
The Popular Foundations IPO listing date is on Tuesday, September 24, 2024.
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