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Business News/ Markets / Ipo/  Pyramid Technoplast IPO: GMP, subscription status, review, apply or not?

Pyramid Technoplast IPO: Bidding for initial public offering (IPO) of Pyramid Technoplast Limited opened on 18th August 2023 and it will remain open for bidders till 22nd August 2023. Means Pyramid Technoplast IPO subscription will end on tomorrow and investors have just two days in hand to apply for the initial offer. As per the Pyramid Technoplast IPO subscription status on day two of bidding, the public issue has been subscribed 5.84 times whereas its retail portion has ben subscribed 6.52 times.

Pyramid Technoplast IPO GMP today

Meanwhile, grey market has gone bullish on the public issue after trend reversal on Dalal Street during Monday deals. According to market observers, shares of Pyramid Technoplast Limited are available at a premium of 28 in grey market today. This means, grey market is expecting around 17 per cent listing gain from the public issue. They said that Pyramid Technoplast IPO grey market premium (GMP) may further go northward if the current reversal on Dalal Street extends further.

Pyramid Technoplast IPO subscription status

On day two of bidding, Pyramid Technoplast IPO has been subscribed 5.84 times whereas its retail portion has been subscribed 6.52 times. The public issue has been subscribed 6.73 times in NII category while its QIB portion has been subscribed 1.49 times.

Pyramid Technoplast IPO review

Highlighting strong fundamentals of the company, Axis Capital said, "Their manufacturing units are ISO 9001:2015/ ISO 14001:2015/ISO 45001:2018 certified by quality, environment, health and safety management systems for the manufacture of Polymer Drums, carboys, jerry cans, IBC & MS Drums and accessories connected thereto. Further, their MS Drums meet quality standards as laid down by Bureau of Indian Standards."

The brokerage went on to add that the company has long term relationships with distributors or vendors, both domestic and international, and have multiple vendors for particular components rather than relying on single sources in order to de-risk themselves from supply chain problems. This also allows them to ensure availability for their raw materials as well as enables them to secure the best possible prices for their products.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Updated: 21 Aug 2023, 12:32 PM IST
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