Pentacle Consultants (I) IPO
Pentacle Consultants (I) Limited has filed a draft red herring prospectus (DRHP) with SEBI for a mainboard IPO, a fresh issue and offer for sale. As of SEBI's report dated 30 October 2026, the draft is under SEBI review. The draft proposes a fresh issue, size not yet set, and an offer for sale of up to 21,25,000 shares by promoter Pallavi Mahendra More. In FY26 the company made a profit of ₹28.86 crore on revenue of ₹91.73 crore. The price band, lot size and IPO dates are not announced yet.
- Status
- Under SEBI reviewSEBI report, 30 Oct 2026
- SEBI received draft
- 5 Oct 2026
- Type of issue
- Fresh issue and offer for sale
- Lead manager
- Socradamus Capital Private Limited
- Last SEBI contact
- 5 Oct 2026
- Price band and dates
- Not announced
Where it stands
Pentacle Consultants (I) IPO: where it stands
SEBI processing status, 30 Oct 2026- Draft filed with SEBI5 Oct 2026
- SEBI reviewUnder SEBI review
- SEBI observations
- RHP and price bandNot yet
- Bidding and listingNot yet
SEBI is examining the draft offer document. This is SEBI's own list of drafts under process.
SEBI received the draft on 5 October 2026, 32 days ago, and its last communication on the draft was on 5 October 2026 (day count is our calculation).
DRHP at a glance
Pentacle Consultants (I) DRHP at a glance
Draft red herring prospectus, 29 Sep 2026What the company's draft offer document says. Figures can change in the red herring prospectus, and nothing here is a review or a recommendation.
The business
DRHP, Our Business (p. 222) and Risk Factors (p. 32 to 36)Pentacle Consultants provides design engineering, project management consultancy and advisory services, mainly for transport and social and community infrastructure projects, which gave 87.53% of FY26 revenue. It plans to buy SIDL with money from the IPO.
Government bodies gave 30.64% of FY26 revenue, down from 99.25% in FY24, as it took on work in the UAE. Customers in Maharashtra gave 50.05% of FY26 revenue.
The offer
DRHP cover page and The Offer (p. 77)| Fresh issue | Size not yet setMoney goes to the company |
| Offer for sale | Up to 21,25,000 sharesBy promoter Pallavi Mahendra More; her average cost is ₹0.03 a share |
| Shares before the IPO | 4,35,66,408The offer for sale is about 4.9% of them (ours) |
| Listing | BSE and NSEMainboard, under Regulation 6(1) |
| Lead manager | Socradamus Capital Private Limited |
| Registrar | MUFG Intime India Private Limited |
| Promoters | Mahendra Pundalik More, Pallavi Mahendra More and Ganesh Pundalik More |
What the company plans to do with the money
DRHP, Objects of the Offer (p. 111 to 112)| Object | ₹ crore |
|---|---|
| Cash payment for buying SIDL | 22.17 |
| Repaying or prepaying certain borrowings | 6.50 |
| Working capital | 19.93 |
| Unidentified acquisitions and general corporate purposes (set later) |
Amounts are what the net proceeds will fund. The named objects add to ₹48.60 crore (our sum). The offer for sale money goes to the selling promoter, not the company.
Financials
DRHP, Summary of Restated Consolidated Financial Information (p. 80 to 84) and Basis for Offer Price, KPIs (p. 134 to 136), ₹ crore| ₹ crore | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue from operations | 30.28 | 60.23 | 91.73 |
| EBITDA | 5.71 | 14.27 | 33.06 |
| EBITDA margin | 18.85% | 23.68% | 36.04% |
| Profit after tax | 2.89 | 10.51 | 28.86 |
| Diluted EPS (₹) | 0.76 | 2.74 | 7.32 |
| Net worth | 30.90 | 42.40 | 75.13 |
| Cash from operations | 5.78 | 2.63 | -9.35 |
| Return on equity | 9.82% | 28.68% | 49.11% |
| Debt to equity | 0.24 | 0.14 | 0.24 |
Restated consolidated figures. Net worth is total equity. Revenue grew about 74.0% a year from FY24 to FY26 (our calculation).
Risks the draft lists first
DRHP, Risk Factors (p. 32 to 36)- Government workGovernment bodies gave 30.64% of FY26 revenue, and 99.25% in FY24. (Risk factor 1, p. 32)
- India focusMuch of the revenue comes from projects in India. (Risk factor 2, p. 33)
- MaharashtraCustomers in Maharashtra gave 50.05% of FY26 revenue. (Risk factor 3, p. 34)
- Order bookProjects where it is the lowest bidder may not be awarded or may be cancelled. (Risk factor 4, p. 35)
- UAEAll its international work is in the UAE. (Risk factor 5, p. 35)
- Two sectorsTransport and social infrastructure projects gave 87.53% of FY26 revenue. (Risk factor 6, p. 36)
Documents
Pentacle Consultants (I) DRHP and documents
SEBI filingsThe DRHP has the issue size, use of the money, financials, promoters and risk factors. It can change before the final red herring prospectus.
Questions
Pentacle Consultants (I) IPO FAQs
When will the Pentacle Consultants (I) IPO open?
The date is not announced. The company first needs SEBI's observations on its draft, then files a red herring prospectus with the dates. SEBI received the draft 32 days ago (our calculation).
Has SEBI approved the Pentacle Consultants (I) IPO?
SEBI is examining the draft offer document. This is SEBI's own list of drafts under process. Source: SEBI processing status as on 30 October 2026.
What is the Pentacle Consultants (I) IPO price band and lot size?
Not announced. The price band is published at least two working days before the IPO opens, and the lot size is set with it. We add both here the day they are filed.
What is the Pentacle Consultants (I) IPO GMP?
We do not publish a GMP. Grey market premium is unofficial: it is not regulated by SEBI and not published by any exchange. Before the price band is announced there is no issue price to compare it with.
Who is the lead manager of the Pentacle Consultants (I) IPO?
Socradamus Capital Private Limited is the coordinating book running lead manager named in SEBI's processing status report. The DRHP lists all the lead managers and the registrar.
What will Pentacle Consultants (I) do with the IPO money?
According to the DRHP, the fresh issue money goes to cash payment for buying SIDL (₹22.17 crore), repaying or prepaying certain borrowings (₹6.50 crore), working capital (₹19.93 crore), and the rest to general corporate purposes. The offer for sale money goes to the selling shareholders, not the company.
What does Pentacle Consultants (I) do?
Pentacle Consultants provides design engineering, project management consultancy and advisory services, mainly for transport and social and community infrastructure projects, which gave 87.53% of FY26 revenue. It plans to buy SIDL with money from the IPO.
Where can I read the Pentacle Consultants (I) DRHP?
On SEBI's website, where the draft red herring prospectus was published on 6 October 2026. The draft is dated 29 September 2026 and runs to 560 pages. It has the issue size, use of the money, financials and risk factors.
Sources: SEBI processing status of draft offer documents as on 30 October 2026, SEBI's yearly processing status archive and SEBI's list of draft offer documents, and the company's DRHP dated 29 September 2026. Day counts and the last date to open are our calculations. This page is information only, not a recommendation.