Pyramid Technoplast IPO allotment likely out today; here’s how to check

25 Aug 2023 , 11:04 AM

Pyramid Technoplast’s initial public offering (IPO) of 153 crore is scheduled to finalize share allotments by August 25th. Investors who have applied for the IPO can check their allotment status on the BSE website or through the issue registrar’s website, Bigshare Services Pvt Ltd.

The packaging company received bids for 13,82,86,440 shares against the available 75,60,400 shares, resulting in an oversubscription of 18.29 times, according to information from the NSE. The allocation for Qualified Institutional Buyers (QIBs) was oversubscribed by 9.94 times, while Retail Individual Investors (RIIs) oversubscribed by 14.72 times. Non-institutional investors oversubscribed their portion by 32.24 times.

The company’s shares are anticipated to be listed on both the BSE and NSE exchanges on August 30th.

The IPO included 55 lakh shares in a fresh issue and 37.2 lakh shares in an offer for sale. The company aims to raise between Rs 139-153 crore through the IPO, which would result in an implied post-market capitalization of around Rs 611 crore.

The proceeds generated from the fresh issue will be allocated towards partial debt repayment, funding working capital requirements, and other general corporate purposes.