Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Markets / Ipo/  Pyramid Technoplast shares list with over 12% premium at 187 per share on NSE

Pyramid Technoplast IPO Listing: Pyramid Technoplast Ltd, the manufacturer of polymer-based molded products, made a decent debut on Dalal Street Tuesday. Pyramid Technoplast shares were listed at 187 apiece on the NSE, a premium of 12.65% to the issue price of 166 per share.

On BSE, Pyramid Technoplast shares were listed at a premium of 11.45% at 185 apiece.

Pyramid Technoplast IPO had received strong subscription during August 18 to August 22. The initial public offering (IPO) of Pyramid Technoplast was subscribed 18.29 times in total as the issue received bids for 13.83 crore shares as against 92.2 lakh shares on the offer.

Pyramid Technoplast IPO was subscribed 14.72 times in the retail category and 32.24 times in the Non-Institutional Investors (NII) category. The Qualified Institutional Buyers’ (QIB) portion was booked 9.94 times.

Also Read: Aeroflex Industries IPO allotment date today. Latest GMP, how to check allotment status

The company raised 153.05 crore from the IPO which consisted of a fresh issue of 55 lakh shares worth 91.30 crore and an offer for sale (OFS) of 37.20 lakh shares aggregating up to 61.75 crore.

Pyramid Technoplast IPO price band was 151 to 166 per share and the minimum lot size was 90 shares.

Ahead of the IPO, Pyramid Technoplast Ltd had garnered a capital of 27.55 crore through an anchor book process on August 17.

Four investors took part in the anchor book offering including the Carnelian Structural Shift Fund, the Alchemie Ventures Fund, the Pluris Fund, and the Resonance Opportunities Fund.

Read here: Pyramid Technoplast IPO: Pyramid IPO collects 27.55 crore from anchor investors; check details

The company had reserved not more than 30% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 20% for Non Institutional Investors (NII), and not less than 50% of the offer is reserved for Retail Investors.

The net proceeds from the offer will be used to cover offer-related costs as well as the payback and/or pre-payment or repayment, in full or part, of any outstanding borrowings that the firm has taken out.

Also Read: Rishabh Instruments IPO: Rishabh IPO opens tomorrow; here are 10 things to know

Pyramid Technoplast's promoters are Jaiprakash Agarwal, Pushpa Devi Agarwal, Madhu Agarwal, Bijaykumar Agarwal, Yash Synthetics Private Limited, and Credence Financial Consultancy LLP.

The company produces Intermediate Bulk Containers (IBC), MS Drums, and polymer-based bulk packaging drums for the packaging and transportation of chemicals, agrochemicals, and speciality chemicals.

Catch Live Market Updates here

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 29 Aug 2023, 10:00 AM IST
Next Story
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App