12/31/2023 0 Comments Intime tax![]() ![]() The shares of Pentagon Rubber are trading at a GMP of ₹28 in the grey market, as per IPO Watch.Ĭonsidering the current GMP, the shares of Pentagon Rubber are expected to list at ₹98 apiece, a premium of 40% to the issue price. Pentagon Rubber IPO GMP today or grey market premium today is ₹28. Pentagon Rubber shares will be listed on July 10 at NSE Emerge platform.īeeline Capital Advisors Pvt Ltd is the book-running lead manager to the issue, and Link Intime India Pvt Ltd is the registrar to the issue.Īlso Read: Synoptics Technologies IPO: SME issue opens tomorrow. The company will fix the basis of allotment on July 5 and initiate refunds on July 6, while shares will be credited on July 7. The Indian market is closed on June 29 for a public holiday. The SME IPO opened on June 26 and will close on June 30. Mohali-headquartered Pentagon Rubber, an engineering components company, has set a price band of ₹65-70 per share for its IPO, comprising an issue of 23.10 lakh equity shares of ₹10 each. 1, the county could see around $40 million generated in the last part of fiscal year 2024.Also Read: ideaForge IPO: What GMP signals after strong response by investors? Teruya said earlier this month that if the surcharge began Jan. Lee said that for every $1,000 spent, a person would pay an additional $5 with the surcharge. Testifiers during the committee meetings raised concerns that costs from the surcharge would add up and be too much for residents, especially those with limited incomes. She said it could also help eliminate the county’s debts, including reducing the number of projects that rely on bonds for its funding. Two years ago, US lawmakers created a 14.2 billion fund to help low-income families across America pay for internet service they would otherwise struggle to afford. Lee said revenues from the surcharge could go to water and sewer projects rather than increasing rates for the public to fund those projects. When asked if it would help speed up affordable housing, Lee said the funding could help with things such as a new Central Maui Wastewater Treatment plant that housing developments need. “This was our absolutely last opportunity to establish this GET surcharge.” ![]() “This was a big day for the county,” Lee said after the meeting. Maui County officials said the surcharge could have brought in around $283 million in added income over the past four years if it had been established. Kauai and Hawaii island also adopted a surcharge. Honolulu County was the first to adopt a surcharge. Each of the counties previously had the opportunity to adopt the surcharge, but in 2019, Maui County opted out of the possibility. ![]() Josh Green allows the county to establish a surcharge. The bill passed by state lawmakers and signed into law by Gov. “I don’t think it’s going to be a problem spending (the) money,” he said.Īfter the unanimous vote, Lee thanked the council members, noting how she and Maui County Finance Director Scott Teruya lobbied the Legislature this session to allow Maui County to enact a surcharge. The DHHL proposal was also a plus for Council Member Shane Sinenci, who said he supported recommending the bill for passage, but “with reservations.” He noted the “additional taxes on our electorate” and also referenced the medical professionals who have come out to testify about how the state charges the GET on medical services, making it harder for them financially.ĭoctors have expressed during committee meetings how burdensome it is, especially with the GET on Medicare and Medicaid, for which doctors cannot pass on the additional tax to patients.īut Sinenci pointed to Kama’s amendment as one of the bright sides, along with expected tax credits from the state for low-income families.Ĭouncil Member Tom Cook said the revenues from the surcharge could be spent on things such as water storage tanks that could be easily established in various communities. Paltin, who previously expressed concerns about tacking on the surcharge, describing it as a regressive tax, wasn’t sure how she would vote on the bill Tuesday but called Kama’s amendment a “game changer” for her. Paltin said the $600 million from the Legislature is intended to cover the entire state, and with the high cost of infrastructure, the allocation “doesn’t go that far.” She also noted the $600 million in state funds already set aside by state lawmakers in 2022 to help those on the DHHL waiting list.īut Council Member Tamara Paltin supported Kama’s original proposal, noting that the DHHL has many Maui projects, including in her district of Lahaina, that could use extra funds for infrastructure. Although she said she supports DHHL projects, she was concerned about what would happen if the funds were not spent in time. Council Chairwoman Alice Lee asked if the amendment could allow for “up to 20 percent” of the surcharge revenues for DHHL instead. ![]()
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