Popular Foundations Limited IPO: Elevating Construction to New Heights

Popular Foundations Limited, a construction company with over 25 years of experience, plans to go public with an IPO on September 13, 2024. The offering aims to raise ₹19.87 Cr through the BSE SME platform. Proceeds will be used for debt repayment, working capital, and general corporate purposes.

Popular Foundations Limited, a company with more than 25 years of experience in engineering and construction, has announced plans to go public through an Initial Public Offering (IPO) on September 13, 2024. The company aims to raise ₹19.87 Cr with shares set to be listed on the BSE SME platform.

The IPO will feature up to 53,70,000 equity shares, each at a face value of ₹10. The issue will close on September 18, 2024, and the listing date is tentatively set for September 23, 2024. The funds raised will be utilized for repaying outstanding borrowings, funding working capital, and general corporate purposes.

Srujan Alpha Capital Advisors Llp is the book running lead manager for this IPO, while Bigshare Services Pvt Ltd will serve as the registrar. According to Mr. A. S. Venkatesh, Managing Director, the IPO will help the company expand its operations and enhance customer value in the growing construction sector.