Check Subscription Status, Important Dates, GMP, and Other Information Here for Pyramid Technoplast IPO Day 2; Should You Subscribe?

On Tuesday, August 22, bids for Pyramid Technoplast’s initial public offering (IPO) will be closed. On Friday, August 18, subscriptions for the general edition were available. On Thursday, August 17, the Pyramid Technoplast IPO’s distribution to anchor investors took place.

Subscription status for the Pyramid Technoplast IPO

According to the most recent information, the first public offering was subscribed 4.08 times on day two of the auction, receiving bids for 3.08 crore equity shares against an offer size of 75.6 lakhs.

Retail investors and high net worth people purchased 4.78 and 4.01 times the amounts allotted to them, making up 50% and 20% of the overall IPO size, respectively. In the meanwhile, 1.31 times, or 30% of the offer amount, have been subscribed for the QIB component of Pyramid Technoplast’s IPO.

On the first day of bidding, on August 18, the Rs 153 crore public offer received 1.61 times its initial subscription.

The business hopes to raise Rs 61.75 crore through the promoter’s offer-for-sale (OFS) and Rs 91.3 crore from the new issuance.

Price range for the IPO of Pyramid Technoplast:

The pricing range for the Pyramid Technoplast initial public offering (IPO) has been set at between Rs 151 and Rs 166 per equity share with a nominal value of Rs 10. The issue’s minimum lot size is 90 equity shares, and lots are sold in multiples after that.

Today’s Pyramid Technoplast IPO GMP

After the D-Street trend changed during Monday trades, the grey market became positive on the public problem. Currently, shares in Pyramid Technoplast Limited may be purchased on the black market for a premium of Rs 28. This means that the grey market anticipates a listing gain from the public issuance of roughly 17%. Market watchers believe that if the recent reversal on D-Street continues, the Pyramid Technoplast IPO grey market premium (GMP) may go even farther north.

Regarding the offer:

Pyramid Technoplast’s initial public offering (IPO) comprises of a new issuance of 55 lakh shares for a total of Rs 91.30 crore and an offer for sale (OFS) of 37.20 lakh equity shares for a total of Rs 61.75 crore at the top price band.

The business has suggested using the offer’s net proceeds to pay for offer-related expenses as well as to pay off any outstanding borrowings it may have incurred.

Significant Dates

The projected date of the Pyramid Technoplast IPO listing is Wednesday, August 30. The corporation is anticipated to set the basis of allocation on August 25, start the refund process on August 28, and credit the shares to qualifying investors’ demat accounts on August 29.

Sector Overview:

The market for chemicals in India has a value of Rs 12,53,02,000,000,000 in 2019 and is projected to increase by 9.3% CAGR to $30,40,000,000,000 by 2025. The demand for chemicals is anticipated to rise by 9% each year by 2025. The chemical industry is anticipated to contribute Rs 24,39,00,000 Lakhs to India’s GDP by 2025.

About the business:

Pyramid Technoplast is a manufacturer of polymer-based moulded goods (polymer drums), which are primarily utilized by chemical, agrochemical, specialty chemical, and pharmaceutical businesses for their packaging needs. The business is one of the few in India with the know-how, tools, and technology to produce Rigid Intermediate Bulk Containers (IBC) with a 1,000-liter capacity.

18,837 MTPA is the total installed capacity of the business’ Polymer Drum production facilities.

The firm disclosed that its operating revenue for the year ended March 2023 was Rs 480 crore and its net profit was Rs 31.76 crore.

Pyramid Technoplast’s IPO lot size is 90 equity shares, with subsequent lots being sold in multiples of 90 equity shares.