South West Pinnacle Exploration Ltd is a company, who provides drilling, exploration as well as allied services to coal, ferrous, non-ferrous, atomic and base metal mining industries and also to water & unconventional energy industries. It is based in Gurgaon, Haryana. They are coming up with their new issue that will be open for application starting 6th February 2018. This post will present the South West Pinnacle Exploration Ltd IPO Review on the basis of the issue date, issue price and DRHP.
About South West Pinnacle Exploration Ltd IPO :
- IPO Opens on – February 6,2018.
- IPO Closes on – February 8,2018.
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs.76 – Rs.78 Per Equity Share.
- Issue Type – Book Built Issue IPO.
- Market Lot – 1600 shares.
- Minimum Order Quantity – 1600 shares.
- Issue Size – 4,596,800 Equity Shares of Rs 10 aggregating up to Rs 35.86 Cr.
- Listing Exchange – NSE SME Exchange.
- Draft Prospectus – Download.
Objectives of the issue:
- Repayment/ Prepayment of certain Secured Borrowings availed by this company.
- Repayment/ Prepayment of certain Unsecured Borrowings availed by this company.
- Purchase of Machinery.
- Funding the working capital requirements of this company.
- General Corporate Purposes.
About The Company –
- South West Pinnacle Exploration Ltd is incorporated in 2006.
- This company provides consultancy for geological field services and allied services.
- They also have an in-house team of geo-scientists to provide integrated exploration services, that includes geo-physical logging, surface geo-physical and topographic surveys.
- This company is also into aquifer mapping for Hydro-geological organizations in India for determining the quantity and quality of groundwater in a particular area, viz., water level, productivity and concentration of various chemicals in groundwater.
- South West Pinnacle Exploration Ltd helps in identifying zones for groundwater development, groundwater recharge, rainwater harvesting etc.
- This company has 37 operational rigs.
- South West Pinnacle Exploration Ltd is drill up to a depth of 2500 meters and has completed more than 950,000 meters of drilling including 60 CBM exploratory and 166 CBM production wells for both Government and Private Sectors.
Promoters of the company :
- Piyush Jain, aged 35 years is the Promoter and Joint Managing Director of this company.
- Vikas Jain, aged 43 years is the Promoter, Chairman and Managing Director of this company.
South West Pinnacle Exploration Ltd IPO Review: The DRHP states that the company has growing profits in its books over the years. The promoters of the company are young and the business is likely to grow in the coming years. The IPO will help them to expand the business as well as to reduce the debt liability, that can help both the top line as well as bottom line. Hence, our South West Pinnacle Exploration Ltd IPO Review is POSITIVE on this issue. We advise investors to apply and hold for medium to long-term.
Ankita has done her Diploma Engineering in Computer Science & Technology. She is pursuing her degree in Engineering and also well experienced in the equity market and real estate related content writing. She is the one who has developed the technical indicators section of our site.
Categories: IPO Review