Pyramid Technoplast IPO day 2: Issue subscribed 3.39 Times so far

21 Aug 2023 , 12:13 PM

The IPO journey of industrial packaging firm Pyramid Technoplast started on Friday, August 18th, as the company opened its doors to public subscription. This three-day opportunity for investment will conclude on August 22nd. To partake in this offering, interested individuals can utilize the provided link. Notably, the Pyramid Technoplast IPO achieved a subscription rate of 1.61 times on the first day.

On the subsequent day of trading, day 2, retail investors took the lead in the bidding process, displaying considerable enthusiasm. With a 50% quota allocated to them, retail investors outperformed other categories by subscribing a substantial 3.93 times the reserved portion. Similarly, the portion designated for high net worth individuals (non-institutional investors) at 20% was also well-received, garnering a subscription rate of 3.19 times.

Qualified institutional buyers (QIBs) demonstrated their confidence in Pyramid Technoplast by securing a subscription rate of 1.27 times, corresponding to their 30% allotment in the IPO.

The initial public offering (IPO) of Pyramid Technoplast is priced in a range of Rs 151 to Rs 166 per share. This strategic pricing aims to generate funds, targeting Rs 139.22 crore at the lower price band and Rs 153.05 crore at the upper threshold.

Ahead to the IPO launch, the company successfully raised Rs 27.55 crore through investments from four anchor investors on August 17th.

Pyramid Technoplast IPO important details:

Open date	18 August 2023
Close date	22 August 2023
Lot size	90 Shares
IPO size (Rs crore)	Rs 153.05 Crore
IPO price range (Rs)	Rs 151-166
Minimum investment	Rs 14940
Basis of allotment date	25 August 2023
Refunds date	28 August 2023
Credit to demat account date	29 August 2023
Listing date	30 August 2023