Pyramid Technoplast IPO To Open On August 18: Check Price, GMP, Key Dates – News18

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Pyramid Technoplast IPO will remain open for public subscription between August 18 and August 22.

Pyramid Technoplast IPO will remain open for public subscription between August 18 and August 22.

The price band for Pyramid Technoplast IPO has been fixed at Rs 151-Rs 166 per share; check details about the IPO here

Pyramid Technoplast, which is a manufacturer of polymer-based moulded products, is set to launch its initial public offering (IPO) on August 18. The price band of the Rs 153.05-crore IPO, which will close on August 22, has been fixed at Rs 151-Rs 166 per share.

Pyramid Technoplast IPO: Key Dates

Pyramid Technoplast, which will remain open for public subscription between August 18 and August 22, will be listed on the BSE and NSE on August 30. However, the allotment of the IPO shares will take place on August 25 and the shares will be credited to demat account on August 29. Those who do not get the IPO allotment will get their refund on August 28.

The cut-off time for UPI mandate confirmation will be 5 pm on August 22, 2023.

Pyramid Technoplast IPO: Price, Lot Size

The price band for Pyramid Technoplast IPO has been fixed at Rs 151-Rs 166 per share. Investors need to buy at least a lot, comprising 90 shares, to participate in the IPO. The total issue size is 92,20,000 shares, consisting of a fresh issue of 55,00,000 shares and an offer-for-sale (OFS) of 37,20,000 shares.

Pyramid Technoplast IPO: Quota

Retail investors will be able to participate in the 50 per cent of the offer. A total of 30 per cent will be reserved for QIB investors, while the remaining 20 per cent quota will be for non-institutional investors (NIIs).

Pyramid Technoplast IPO: GMP

The grey market premium (GMP) of Pyramid Technoplast on Monday stood at Rs 19, according to market observers. It is a premium of 11.45 per cent. It means that the shares, going by the current GMP, is likely to be listed at Rs 185, which is Rs 19 higher than its upper issue price of Rs 166 apiece. The GMP of the unlisted shares keeps changing depending upon the market demand environment.

About Pyramid Technoplast

Pyramid Technoplast Limited, which was incorporated in 1997, manufactures polymer-based molded products (Polymer Drums) mainly used by chemical, agrochemical, specialty chemical, and pharmaceutical companies for their packaging requirements.

The company posted a net profit of Rs 31.76 crore in the financial year 2022-23, compared with Rs 26.15 crore in FY22, and Rs 16.99 in FY21. Its revenue stood at Rs 482.03 crore, Rs 402.64 crore, and Rs 316.18 crore in the respective years.

The company manufactures polymer-based bulk packaging drums and intermediate bulk containers (IBC), as well as MS Drums for packaging used in the packaging and transport of chemicals, agrochemicals, and specialty chemicals.

Pyramid Technoplast started its commercial production in 1998 and now has over 6 manufacturing units out of which four are situated in Bharuch, GIDC, Gujarat, and two are situated at Silvassa, UT of Dadra and Nagar Haveli.



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