Pentagon Rubber IPO: Pentagon Rubber is set to launch its initial public offering (IPO) on Monday, June 26, with the aim of raising Rs 16.17 crore through the sale of its primary stake. The subscription period for the IPO will remain open until Friday, June 30. The offering comprises 23.10 lakh fresh equity shares, each with a face value of Rs 10, resulting in a total value of Rs 16.17 crore.
The price band for the IPO has been set between Rs 65 and Rs 70 per share, and the lot size is 2,000 equity shares. This means that each lot will cost investors Rs 1.4 lakh. Retail bidders can bid for a single lot, while High Net Worth Individual (HNI) investors must bid for a minimum of two lots, equivalent to 4,000 equity shares.
Pentagon Rubber IPO Dates
The initial public offering (IPO) of Pentagon Rubber is scheduled to open on June 26, 2023, and close on June 30, 2023. The Basis of Allotment for the Pentagon Rubber IPO will be finalized on Wednesday, July 5, 2023, and the allotted shares will be credited to your demat account by Friday, July 7, 2023. The listing date for the Pentagon Rubber IPO is Monday, July 10, 2023.
Pentagon Rubber IPO Details
| IPO Date | Jun 26, 2023 to Jun 30, 2023 |
| Face Value | ₹10 per share |
| Price | ₹65 to ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,310,000 shares (aggregating up to ₹16.17 Cr) |
| Fresh Issue | 2,310,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,400,000 |
| Share holding post issue | 7,710,000 |
| Market Maker portion | 116,000 shares |
Important Dates of Pentagon Rubber IPO
Pentagon Rubber IPO opens on Jun 26, 2023, and closes on Jun 30, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Monday, 26 June 2023 |
| Closing Date | Friday, 30 June 2023 |
| Basis of Allotment | Wednesday, 5 July 2023 |
| Initiation of Refunds | Thursday, 6 July 2023 |
| Credit of Shares to Demat | Friday, 7 July 2023 |
| Listing Date | Monday, 10 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 30, 2023 |
Pentagon Rubber IPO Lot Size
The Pentagon Rubber IPO lot size is 2000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
Objects of the Pentagon Rubber IPO
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- To meet working capital requirements, and
- General corporate expenses.
About Pentagon Rubber Limited IPO
Established in 2004, Pentagon Rubber Limited specializes in the manufacturing of Rubber Conveyor belts, Transmission belts, Rubber Sheets, and Elevator belts.
Situated in Dera Bassi, Punjab, just 25 km away from Chandigarh City, the manufacturing unit of Pentagon Rubber Limited boasts one of India’s longest conveyor belting presses. With an impressive production capacity of 21mtr in a single stroke, the unit is capable of producing over 300 sq km of conveyor rubber belts annually.
Pentagon Rubber Limited takes pride in its state-of-the-art laboratory, built to international standards. Equipped to produce conveyor belts adhering to various global standards such as DIN, BS, IS, ISO, SABS, AS, GOST, and CAN, the laboratory reflects the company’s commitment to quality.
Recognizing its excellence, the All India Rubber Industries Association has honored Pentagon Rubber Limited with prestigious accolades, including the Export Merit Award, Special Domestic Sales Award, and Top Domestic Sales Award.
Beeline Capital Advisors has been appointed as the book-running lead manager for the issue, while Link Intime India will serve as the registrar. This IPO is categorized as an SME IPO and is set to be listed on the emerge platform of the National Stock Exchange (NSE) on July 10, 2023.