Business description – South West Pinnacle Exploration provides end to end drilling, exploration and allied services to coal, ferrous, non ferrous, atomic and base metal mining industries and water & unconventional energy industries. The company has 37 operational rigs and support equipment of different capacities to drill upto a depth of 2500 meters. It also provides consultancy for geological field services and allied services. The company has an in-house team of geoscientists for providing integrated exploration services including geophysical logging, surface geophysical & topographic surveys.
The company has recently diversified into aquifer mapping for Hydro-geological organisations 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. This helps in identifying zones for groundwater development, groundwater recharge, rainwater harvesting etc. The company has completed more than 950,000 meters of drilling including 60 CBM exploratory and 166 CBM production wells for both Government and Private Sectors. Currently, the company has 10 running projects in different states of India.
Promoters of South West Pinnacle Exploration – Vikas Jain and Piyush JainÂ
| South West Pinnacle IPO details | |
| Subscription Dates | 6 – 8 February 2018 |
| IPO Price band | INR76 – 78 per share |
| Fresh issue | 4,596,800 shares (INR34.93 – 35.85 crore) |
| Offer for sale | Nil |
| Total IPO size | 4,596,800 shares (INR34.93 – 35.85 crore) |
| Minimum bid (lot size) | 1,600 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | NSE Emerge SME platform |
Use of funds
- Repayment/prepayment of secured borrowings – INR7.51 crore
- Repayment/prepayment of unsecured borrowings – INR6.50 crore
- Purchase of machinery – INR0.19 crore
- Working capital requirements – INR14.25 crore
- General corporate purposes
| South West Pinnacle’s financial performance (in INR crore) | ||||||
| Â | FY2013 | FY2014 | FY2015 | FY2016 | FY2017* | H1 FY2018* |
| Total revenue | 37.8 | 52.2 | 63.4 | 84.9 | 74.8 | 37.3 |
| Total expenses | 36.0 | 48.4 | 59.0 | 79.1 | 65.6 | 32.4 |
| Profit after tax | 0.3 | 2.8 | 2.9 | 3.9 | 6.1 | 3.3 |
*consolidated results
South West Pinnacle’s Contact Details
South West Pinnacle Exploration Limited
Siddhartha House, 4th Floor
Plot No. 6, Sector – 44
Gurgaon, Haryana – 122003
Phone: +91 124 4235 400
Email: [email protected]
Website: www.southwestpinnacle.com
South West Pinnacle IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.31 |
| Day 2 | 0.86 |
| Day 3 | 37.26 |
South West Pinnacle Valuation (Latest FY)
Earnings Per Share (EPS): INR6.57
Price/Earnings (P/E) ratio: 11.56 – 11.87
Return on Net Worth (RONW): 20.67%
Net Asset Value (NAV): INR31.80 per share
Registrar of South West Pinnacle IPO
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Website:Â http://www.linkintime.co.in
South West Pinnacle IPO Allotment Status
South West Pinnacle IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.
Listing performance of South West PinnacleÂ
IPO Opening Date: 6 February 2018
IPO Closing Date: 8 February 2018
Finalisation of Basis of Allotment: 14 February 2018
Initiation of refunds: 15 February 2018
Transfer of shares to demat accounts: 16 February 2018
Listing Date: 19 February 2018
Listing Price on NSE SME: INR93.6 per share (up 20% from IPO price)
Closing Price on NSE SME: INR88.3 per share (up 13.2% from IPO price)
One of the few companies which make sense for investment. I’ve worked at South West in the past, both directors are good people. Very ethical.
Looks best of all the sme ipos. This company is doing quality work and entry barriers are high so margins are protected. It is going to be a multibagger!
With the oil prices on upmove it makes sense to go for this ipo
What are the subscription numbers end of second day? Should we apply considering the current scenario