Popular Foundations Limited (PFL), a veteran in the engineering and construction industry with over 25 years of experience, is set to go public with its Initial Public Offering (IPO) on September 13, 2024. Specializing in comprehensive construction solutions, PFL focuses on non-residential and non-governmental projects primarily in and around Chennai, while also handling factories, educational institutions, commercial, and residential projects.
IPO Details
- IPO Opening Date: September 13, 2024
- IPO Closing Date: September 18, 2024
- Tentative Listing Date: September 23, 2024
- Total Issue Size: ₹19.87 Crores
- Face Value per Share: ₹10
- Issue Price per Share: ₹37 (Fixed Price)
- Total Shares Offered: Up to 53,70,000
- Lot Size: 3,000 shares
Share Allocation
- Fresh Issue: 53,70,000 shares
- Market Maker Quota: 2,70,000 shares
- Minimum Retail Application: 3,000 shares
- Minimum HNI Application: 6,000 shares
Use of Proceeds
The funds raised will be used for:
- Repaying Existing Borrowings
- Funding Working Capital Needs
- General Corporate Purposes
Key Statements
- Mr. A. S. Venkatesh, Managing Director: Stresses PFL’s 25-year legacy of high-quality, reliable service and a customer-first approach. He highlights that the IPO will help the company expand its operations, integrate new technologies, and enhance its brand in the rapidly growing construction sector.
- Rajat Baid, Partner at Srujan Alpha Capital: Notes the company’s impressive revenue growth (CAGR of approximately 26% over the past three years) and robust order book. The IPO, under a fixed price route, will be open for public subscription from September 13 to September 18.
About Popular Foundations Limited
Founded in 1998, Popular Foundations Limited offers end-to-end engineering and construction services. While the company operates across various sectors, it strategically focuses on non-residential and non-government projects in Chennai and surrounding areas. Its successful projects extend beyond Chennai to locations such as Pondicherry, Tanjore, Bangalore, Trichy, Madurai, Vizhuppuram, and Coimbatore.
Competitive Strengths
- Experienced Management Team: Skilled in driving operational and financial success.
- Timely Project Delivery: Enhances reputation and competitive edge by consistently meeting deadlines.
Financial Performance
For the fiscal years ending March 31:
- 2024: Revenue: ₹5,191 Lakhs; Profit After Tax: ₹347.76 Lakhs
- 2023: Revenue: ₹4,866.89 Lakhs; Profit After Tax: ₹119.61 Lakhs
- 2022: Revenue: ₹2,630.17 Lakhs; Profit After Tax: ₹48.08 Lakhs
Disclaimer
This document contains forward-looking statements which are subject to risks and uncertainties. Actual results may vary due to factors such as governmental policies, economic conditions, and technological changes. The company is not responsible for any actions taken based on these statements and does not undertake to update them publicly.
