Incorporated in 2006, South West Pinnacle Exploration Limited is a Gurgaon, Haryana based company engaged in the business of providing drilling, exploration and allied services to coal, ferrous, non ferrous, atomic and base metal mining industries and water & unconventional energy industries. Company also provides consultancy for geological field services and allied services. Company has an in-house team of geoscientists for providing integrated exploration services including geophysical logging, surface geophysical & topographic surveys.
Company is also 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.
Company has 37 operational rigs. Company drill upto 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.
The Promoters of the company are:
1. Piyush Jain
2. Vikas Jain
Company is intend to utilize the Net Proceeds towards the following objects:
1. Repayment/ Prepayment of certain Secured Borrowings availed by our company
2. Repayment/ Prepayment of certain Unsecured Borrowings availed by the company;
3. Purchase of Machinery;
4. Funding the working capital requirements of the Company;
5. General Corporate Purposes.
»» Issue Open: Feb 6, 2018 - Feb 8, 2018
»» Issue Type: Book Built Issue IPO
»» Issue Size: 4,596,800 Equity Shares of Rs 10 aggregating up to Rs 35.86 Cr
»» Face Value: Rs 10 Per Equity Share
»» Issue Price: Rs 76 - Rs 78 Per Equity Share
»» Market Lot: 1600 Shares
»» Minimum Order Quantity: 1600 Shares
»» Listing At: NSE SME
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