Pentagon Rubber IPO: How to check the Allotment Status

The ₹16.17 crore Pentagon Rubber IPO consists entirely of a fresh issue with no offer for sale (OFS) component involved. The company has issued a total of 23,10,000 shares at the upper band price of ₹70 per share aggregating to total issue size of ₹16.17 crore. The IPO was priced in the band of ₹65 to ₹70 and all our calculations are based on the upper band assumption. The break-down of the offer reservation across different categories of investors is as under.

The response to the IPO of Pentagon Rubber Ltd was extremely gratifying and it was subscribed 106.20X overall at the close of bidding on 30th June 2023 with the retail segment seeing 130.70 times subscription, the non-retail HNI / NII portion seeing 153.33 times subscription and the QIB portion seeing 27.62 times subscription in the IPO. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 30th June 2023.

The basis of allotment will be finalized on Wednesday, 05th July 2023, the refunds will be initiated on 06th July 2023, demat credits will be finalized on 07th July 2023, while the stock of Pentagon Rubber Ltd will get listed on the NSE and the BSE on 10th July 2023. The company had a pre-IPO promoter holding of 100% and post the IPO, the promoter stake in Pentagon Rubber Ltd will stand reduced to 70.04%. On listing, the company will have an indicative P/E ratio of 18.76X.

How to check the allotment status. Since this is an NSE SME IPO, there is no facility to check on the exchange website since the BSE only offers allotment status mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can either check your allotment status on the website of the IPO registrar, Link Intime India Private Ltd. Here are the steps that you need to follow to check allotment status.

Checking the allotment status of Pentagon Rubber Ltd on Link Intime India Private Limited (Registrar to the IPO)

Visit the Link Intime registrar website for IPO status by clicking on the link below:

https://linkintime.co.in/IPO/public-issues.html

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Pentagon Rubber Ltd from the drop-down box. In the case of Pentagon Rubber Ltd, data access will be allowed late on 05th of July 2023 or by middle of 06th of July 2023.

• There are 4 options available to you and you will find these 4 options on the above access page itself. You can either access the allotment status based on PAN or Application Number or DPID / Client ID combination or based on the combination of the bank account / IFSC code used to apply for the IPO. You can select any one of the options that is preferred and provide the details accordingly.
   
• If you opt for the PAN Number access, then enter the 10 character income tax permanent account number (PAN). This is an alphanumeric code available either on your PAN card or on top of your income tax return.
   
• The second option is to use the Application Number that you used while making an application for the IPO. The application number is available on the acknowledgement provided to you and you can use that as one of the options to access allotment status.
   
• The third option is to use the DPID-Client ID combination. Remember that here you have to enter the DP id and the demat client id together as one single string. This DPID / Client ID combination is a numeric figure for CDSL demat accounts while it is an alphanumeric string for NSDL demat accounts. This combination of DP ID / Client ID of your demat account will be available in your demat statement or you can also get it online from your online trading account or trading app downloaded on the smart phone.
   
• The fourth option is to query based on the combination of your bank account number and IFSC number and irrespective of how many bank accounts you have, only use the bank account used for this particular IPO application. Once you click on this option, you find two boxes. First, enter your bank account number as it is. Secondly, enter the 11-character IFSC code, which is available on your cheque book. The first 4 characters of the IFSC code are alphabets and the last 7 characters are numeric. IFSC is an abbreviation for Indian Financial System Code and is unique to each account.
   
• Finally, click on the Search button

The IPO status with number of shares of Pentagon Rubber Ltd allotted will be displayed on the screen in front of you. You can take a screenshot of the output page for your records.

Finally, a quick word on the background of Pentagon Rubber Ltd. The company is an SME IPO on the NSE which had opened for subscription on 26th June 2023. The company, Pentagon Rubber Ltd, was incorporated in 2004 to manufacture rubber conveyor belts, transmission belts, rubber sheets and elevator belts. These are advanced precision rubber products that need a high degree of technological finesse. The manufacturing plant of Pentagon Rubber Ltd is located in Dera Bassi in Punjab; about 25 KM from Chandigarh.

Pentagon Rubber has one of the longest conveyor belting presses in India with a production capacity of 21 metres in a single stroke. The unit has a production capacity of more than 300 square KM of rubber belts on an annual basis. To boost its R&D efforts, Pentagon Rubber Ltd also has modern laboratory that can produce conveyor belts as per most of the global standards and requisite protocols.  The company has a fairly large domestic and global export market and has received several accolades in India and abroad.