Pyramid Technoplast IPO GMP, an industrial packaging company, is gearing up for its initial public offering (IPO) subscription starting on August 18th. This marks the fourth IPO this month, following SBFC Finance, Concord Biotech, and TVS Supply Chain Solutions.
Pyramid Technoplast IPO opens for subscription
|IPO Open Date||Friday, 18 August 2023|
|IPO Close Date||Tuesday, 22 August 2023|
|Basis of Allotment||Friday, 25 August 2023|
|Initiation of Refunds||Monday, 28 August 2023|
|A credit of Shares to Demat||Tuesday, 29 August 2023|
|Listing Date||Wednesday, 30 August 2023|
|Cut-off time for UPI mandate confirmation||–|
|Price||₹151 to ₹166 per share|
|Lot Size||90 Shares|
|Total Issue Size||9,220,000 shares
(aggregating up to ₹153.05 Cr)
1. IPO Date The IPO bidding window opens on August 18, closing on August 22. The anchor book, accessible to qualified institutional buyers (QIBs), initiates on August 17.
2. Price Band The IPO price band is set at Rs 151-166 per share.
3. Issue Size Pyramid Technoplast aims to raise Rs 139.22 crore at the lower band and Rs 153.05 crore at the upper end. The IPO consists of a fresh issue of 55 lakh shares (Rs 91.30 crore) and an offer-for-sale (OFS) of 37.2 lakh shares (Rs 61.75 crore) by promoter Credence Financial Consultancy LLP.
4. Objectives of the Issue Proceeds from the fresh issue will be utilized for repaying borrowings (Rs 40 crore), meeting working capital requirements (Rs 40.21 crore), and general corporate purposes. The OFS proceeds will go to the selling shareholder Credence Financial.
5. Lot Size Investors can bid for a minimum of 90 equity shares, and in multiples of 90 shares thereafter. Retail investors can invest a minimum of Rs 14,940 per lot (90 shares) up to a maximum of Rs 1,94,220 for 13 lots (1,170 shares). High-net-worth individuals can invest a minimum of Rs 2,09,160 for 14 lots (1,260 shares) up to a maximum of Rs 9,86,040 for 66 lots (5,940 shares).
6. Company Profile Pyramid Technoplast manufactures polymer-based molded products, including polymer drums, utilized by chemical, agrochemical, specialty chemical, and pharmaceutical companies. It also produces MS Drums made of mild steel, used for chemical packaging and transport.
7. Financial Performance In the last fiscal year, Pyramid Technoplast achieved substantial earnings growth, despite margin pressure due to rising input costs. Profit for FY23 stood at Rs 31.76 crore, a 21.5% increase over the previous year. Revenue from operations in FY23 reached Rs 480 crore, nearly 20% higher than the preceding year.
8. Promoters and Management The company is wholly owned by the Agarwal family. Key individuals include Bijaykumar Agarwal (Chairman and MD), Jaiprakash Agarwal (Whole-time Director and CFO), and Madhu Agarwal (Whole-time Director).
9. Risk Factors Highlighted risks include potential disruptions to manufacturing operations, dependence on polymer-based products, sensitivity to crude oil and iron ore prices, absence of long-term agreements with customers, negative cash flows, and potential government regulations impacting polymer-based packaging.
10. Allotment and Listing Dates Allotment of IPO shares will be finalized by August 25, with shares credited to investors’ demat accounts by August 29. Refunds for unsuccessful applicants will be transferred by August 28. The stock is set to debut on both BSE and NSE on August 30.
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Pyramid Technoplast IPO GMP, Grey Market Premium Today
Grey Market Premium Analysts have reported that Pyramid Technoplast’s IPO shares are available in the grey market at over a 10% premium above the upper price band. The grey market functions unofficially for trading IPO shares until their official listing.
Pyramid Technoplast IPO review
Company Introduction: Founded in 1997, Pyramid Technoplast is one of India’s leading industrial packaging companies. The company is a pioneer in polymer-based molded products and aims to leverage its years of expertise and expertise in manufacturing rigid Intermediate Bulk Containers (IBC), polymer drums, and MS drums.
The company manufactures polymer drums: liquid equipment: Made with the company’s polymer drums products. This menu manufacturing is also manufactured in Bharuch, these drums products come with features, which will come for safe and convenient flow in your industry. The company also manufactures MS drums, Pyramid Technoplast started commercial production in 1998.
Where is Pyramid Technoplast Menu Manufacturing Unit located?
Now it has more than 6 manufacturing units running
- 4 in Bharuch GIDC
- 2 Dadra Nagar is in Shelwa of Haveli
- 7 in preparation to set up a menu manufacturing unit which will be at Bharuch
- The company has 47 trucks that can make deliveries easily
Units of the company
- IBC 20000
- MS DRUM 6000
- Polymer drum
All the products of the company are certified according to the recommendation of the United Nations.
Who is the owner of Pyramid Technoplast Pvt Ltd?
Bijaykumar Agarwal, Jaiprakash Agarwal, Madhu Agarwal is The Owner of Pyramid Technoplast Pvt Ltd
What are the products of time Technoplast?
What is Pyramid Technoplast IPO closing date?
Pyramid Technoplast IPO closing date is 22 August 2023.