The initial public offering (IPO) of Pyramid Tecnoplast Ltd commenced its subscription phase on August 18, 2023, and is scheduled to conclude on August 22, 2023, affording potential investors just one more day to participate in the public issue before the bidding window closes. As of today, being the last day of bidding, click here to apply the IPO.
By 12:40 PM on the third day of bidding, the IPO has garnered substantial interest, witnessing an impressive subscription rate of 10.59 times the offered shares. Remarkably, the retail portion of the IPO has recorded a subscription of 10.24 times, underlining the strong retail investor enthusiasm.
The non-institutional investor (NII) portion of the IPO has seen an even higher subscription rate of 16.85 times, while the Qualified Institutional Buyer (QIB) category has secured a subscription rate of 1.60 times.
Investors have been given a price band of Rs 151-166 per share to consider, with the subscription window set to conclude on August 22.
The funds generated from the fresh issuance are strategically earmarked for debt repayment and fulfilling working capital requirements. Any remaining balance will be allocated to general corporate purposes, enhancing the company’s overall financial strength.
Pyramid Technoplast specializes in the production of polymer-based bulk packaging drums and intermediate bulk containers (IBC), primarily catering to the chemical, agrochemical, specialty chemical, and pharmaceutical sectors. In addition, the company manufactures MS Drums composed of mild steel (MS), a versatile packaging solution used in transportation and storage applications.
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 |
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