Pentagon Rubber IPO to hit capital market to raise up to Rs 16.17 cr on Jun 26

Pentagon Rubber aims to raise INR16 crore through an IPO. The company has set a price band of INR65-70 per share comprising 23.10 lakh equity shares of INR10 each and the issue will open on 26 June and close on 30 June. The Pentagon Rubber IPO proceeds will be used to meet the working capital requirements, general corporate purpose and issue expenses. Notably, the company’s IPO funds raised will help the company to increase its turnover by 55-60% as it is already expanding its production capacity. Pentagon Rubber’s shares will be listed on the NSE-Emerge.