Schedule of Popular Foundations
| Issue open date | 13 Sep 2024 |
| Issue close date | 19 Sep 2024 |
| UPI mandate deadline | 19 Sep 2024 (5 PM) |
| Allotment finalization | 20 Sep 2024 |
| Refund initiation | 23 Sep 2024 |
| Share credit | 23 Sep 2024 |
| Listing date | 24 Sep 2024 |
| Mandate end date | 04 Oct 2024 |
| Lock-in end date for anchor investors (50%) | 20 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 19 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Popular Foundations
Incorporated in 1998, Popular Foundations specializes in Engineering and Construction activities, providing comprehensive end-to-end solutions in the construction sector. The company is dedicated to building practices catering to various verticals such as factories, educational institutions, commercial, and residential projects. The company strategically focuses on non-residential and non-governmental projects in civil construction in and around Chennai. Equipped with expertise in engineering, architecture, and interior and exterior fit-outs, It has gained recognition among numerous educational institutions, industries, and commercial establishments in Tamilnadu. The company has successfully undertaken projects in Pondicherry, Tanjore, Bangalore, Trichy, Madurai, Vizhuppuram, Coimbatore and Chennai.
Financials of Popular Foundations
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹19.87 crores |
| Fresh Issue | ₹19.87 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Debt reduction | 4.94 (24.86%) |
| Working capital requirements | 11.86 (59.69%) |
| Issue related expenses | 1.99 (10.01%) |
| General corporate purposes | 1.08 (5.44%) |
Strengths
- The company’s business model is a comprehensive framework that emphasizes client-centricity, fair pricing, and strategic market positioning.
- It has navigated a competitive environment with a competitive advantage derived from over 25 years of experience. Its market strategy relies on word-of-mouth referrals and a decentralized approach to project execution, ensuring accountability and cost competitiveness.
- The company’s expertise in civil construction is a testament to its proficiency in various domains, including structural engineering, transportation engineering, and geotechnical expertise.
- The company specializes in the hospitality and educational institutional sectors and its projects are tailored to meet the unique demands of these industries.
- Its focus on timely project completion contributes to enhancing its reputation in the market, giving it a competitive edge.
Risks
- The company has experienced negative cash flows in its operating activities in the past.
- The company is subject to various risks related to the engineering and construction business, including, without limitation, cost increase above estimates, changes in scope of work, and cost overruns which may reduce profits or cause losses and in some cases, cancellation or deferrals of contracts.
- The company’s labour-intensive industry may suffer significant negative effects on its business operations, financial results, and growth due to employee strikes, work stoppages, or increased wage demands from its employees or suppliers employees.
- The company has issued equity shares in the last twelve months, the price of which may be lower than the Issue price.
- The company’s success depends on stable and reliable logistics and transportation infrastructure. Disruption of logistics and transportation services could impair the ability of its vendors to deliver materials to them and/ or increase transportation costs.