Pyramid Technoplast shares list with over 12% premium at ₹187 per share on NSE
2 min read 29 Aug 2023, 10:00 AM ISTPyramid 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.
PremiumPyramid 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.
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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.
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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.
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