The much-anticipated Pyramid Technoplast IPO is set to kick off its subscription phase on Friday, August 18, offering an exciting opportunity for investors.
Pyramid Technoplast Limited, a prominent player in the realm of polymer-based moulded products, specializes in crafting Polymer Drums tailored to the packaging requirements of chemical, agrochemical, specialty chemical, and pharmaceutical companies.
The company’s portfolio encompasses a range of cutting-edge offerings including Intermediate Bulk Containers (IBC), MS Drums, and innovative polymer-based bulk packaging drums, all designed to facilitate the secure packaging and transportation of a diverse array of chemicals, agrochemicals, and specialty chemicals.
At the helm of Pyramid Technoplast are distinguished promoters such as Jaiprakash Agarwal, Pushpa Devi Agarwal, Madhu Agarwal, Bijaykumar Agarwal, Yash Synthetics Private Limited, and Credence Financial Consultancy LLP.
In the fiscal year that concluded in March 2023, Pyramid Technoplast recorded a robust revenue from operations amounting to ₹480 crore. The company also achieved a commendable net profit of ₹31.76 crore during the same period.
Among the company’s industry counterparts, Time Technoplast Ltd, TPL Plastech Ltd, and Mold-Tek Packaging Ltd, are notable peers listed in the industry.
Here are the ten pivotal pieces of information to keep in mind about the Pyramid Technoplast IPO:
Pyramid Technoplast IPO Date:
The Pyramid Technoplast IPO subscription phase commences on Friday, August 18, and will conclude on Tuesday, August 22, providing interested investors a window of opportunity.
Pyramid Technoplast IPO Price Range:
The IPO is priced within an attractive range of ₹151 to ₹166 per equity share, each having a face value of ₹10.
Pyramid Technoplast IPO Lot Size:
Investors can participate by purchasing a lot comprising 90 equity shares, with the flexibility to invest in multiples of 90 shares thereafter.
Pyramid Technoplast IPO Allocation:
The allocation to anchor investors is scheduled to take place on Thursday, August 17, reflecting the strong initial interest in the Pyramid Technoplast IPO.
Pyramid Technoplast IPO Details:
The Pyramid Technoplast IPO structure comprises a fresh issue, totaling ₹91.30 crore, along with an offer for sale (OFS) segment amounting to ₹61.75 crore at the upper price band.
Pyramid Technoplast IPO Objectives:
The net proceeds garnered from the IPO will serve various purposes, including covering offer-related expenses and facilitating the repayment, in part or full, of outstanding borrowings.
Pyramid Technoplast IPO Allotment and Listing:
The allocation of shares will be finalized on Friday, August 25, followed by refunds processing on Monday, August 28. Shares will be credited to allottees’ demat accounts on Tuesday, August 29. Pyramid Technoplast IPO shares are projected to be listed on both BSE and NSE on Wednesday, August 30.
Pyramid Technoplast IPO Key Facilitators:
The IPO is orchestrated with the support of distinguished book running lead managers (BRLM), namely PNB Investment Services Limited and First Overseas Capital Limited. Bigshare Services Private Limited has been entrusted with the role of the offer’s registrar.
Pyramid Technoplast IPO Reservation:
The Pyramid Technoplast IPO allocation includes reserved portions of up to 30% for Qualified Institutional Buyers (QIB), not less than 20% for Non Institutional Investors (NII), and a minimum of 50% for Retail Investors.
Pyramid Technoplast IPO GMP:
In the grey market, Pyramid Technoplast IPO GMP was observed at +24, mirroring the previous trading session. This indicates a premium of ₹24 for Pyramid Technoplast shares in the grey market, suggesting robust investor interest.
Considering the upper end of the IPO price band and the current grey market premium, Pyramid Technoplast’s anticipated listing price is estimated to be ₹190 per share, signifying a remarkable 14.46% surge from the IPO price of ₹166.
About Pyramid Technoplast:
Pyramid Technoplast operates as an industrial packaging enterprise, specializing in the production of polymer-based molded items, primarily Polymer Drums. These drums find widespread utility in meeting the packaging needs of various industries, including chemicals, agrochemicals, specialty chemicals, and pharmaceuticals.
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