Pyramid Technoplast Shares List With Over 12% Premium At ₹187 Per Share On NSE
PYRAMID TECHNOPLAST LIST: Pyramid Technoplast Ltd., a manufacturer of molded polymer products. made a neat debut at Dalal Street on Tuesday. Shares of Pyramid Technoplast were listed on the NSE at ₹ 187 each, at a premium of 12.65% to the issue price of ₹ 166 per share.
Pyramid Technoplast shares were listed on the BSE at ₹ 185 per share, a premium of 11.45%.
Pyramid Technoplast's IPO received strong underwriting from August 18 to 22. Pyramid Technoplast's initial public offering (IPO) was subscribed a total of 18.29 times, with 13.83 crore shares tendered against 92.2 lakh shares offered for issue.
Pyramid Technoplast's IPO attracted 14.72 times in the retail segment and 32.24 times in the non-institutional investors (NII) segment. The Qualified Institutional Buyers (QIB) segment was booked 9.94 times.
Also Read: Aeroflex Industries IPO Award Today Latest GMP, How to Check Order Status
The company raised ₹ 153.05 crore through the IPO, including a fresh issue of 55 lakh shares worth ₹ 91.30 crore and an offer for sale (OVS) of 37.20 lakh shares worth ₹ 61.75 crore.
Pyramid Technoplast's IPO price range was ₹ 151 to ₹ 166 per share with a minimum lot size of 90 shares.
Ahead of its IPO, Pyramid Technoplast Ltd raised ₹ 27.55 crore on August 17.
Four investors participated in the lead book offering, including Carnelian Structural Change Fund, Alchemy Ventures Fund, Pluris Fund and Resonance Opportunities Fund.
Read here: Pyramid Technoplast IPO: Pyramid IPO raises ₹ 27.55 crore from original investors; Check the details
The company has allocated a maximum of 30% of the shares in the public offering to qualified institutional buyers (QIBs), a minimum of 20% to non-institutional investors (NIIs) and a minimum of 50% to retail investors. . . investors.
The net proceeds of the Offering will be used to pay expenses related to the Offering and to repay and/or prepay, in whole or in part, any outstanding indebtedness incurred by the Company.
Also Read: Rishabh Instruments IPO: Rishabh IPO opens tomorrow; Here are 10 things you should know
Sponsors of Pyramid Technoplast are Jayaprakash Agarwal, Pushp Devi Agarwal, Madhu Agarwal, Vijaykumar Agarwal, Yash Synthetics Pvt Ltd and Credence Financial Consultancy LLP.
The company manufactures intermediate volume containers (IBCs), MS drums and polymer-based bulk packaging drums for the packaging and transportation of chemicals, agrochemicals and specialty chemicals.
Follow live market updates here
Updated on August 29, 2023 at 10:00 AM
