Pyramid Technoplast IPO collects ₹27.5 cr from anchor investors; check details

Four investors took part in the anchor book offering, according to the exchange filing of Pyramid Technoplast. These investors include the Carnelian Structural Shift Fund, the Alchemie Ventures Fund, the Pluris Fund, and the Resonance Opportunities Fund.

Pyramid Technoplast IPO disclosed that it has completed allocating 16,59,600 equity shares to these anchor investors, with each share valued at ₹166. This estimated pricing demonstrates the investor confidence in the Company’s prospects and market position.

Pyramid Technoplast IPO price band has been fixed in the range between ₹151 to ₹166 per equity share of face value of ₹10 each. The IPO’s lot size is 90 equity shares and in multiples of 90 equity shares thereafter.

Pyramid Technoplast IPO has reserved not more than 30% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 20% for Non Institutional Investors (NII), and not less than 50% of the offer is reserved for Retail Investors.

Pyramid Technoplast IPO is made up of fresh issue that totals to ₹91.30 crore and offer for sale (OFS) portion aggregates to ₹61.75 crore on upper band price through the Offer.

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The net proceeds from the offer will be used to cover offer-related costs as well as the payback and/or pre-payment or repayment, in full or part, of any outstanding borrowings that the firm has taken out.

PNB Investment Services Limited and First Overseas Capital Limited are the book running lead managers (BRLM) for the offer. Bigshare Services Private Limited is the offer’s registrar.

Pyramid Technoplast’s promoters are Jaiprakash Agarwal, Pushpa Devi Agarwal, Madhu Agarwal, Bijaykumar Agarwal, Yash Synthetics Private Limited, and Credence Financial Consultancy LLP.

The company produces Intermediate Bulk Containers (IBC), MS Drums, and polymer-based bulk packaging drums for the packaging and transportation of chemicals, agrochemicals, and speciality chemicals.

Pyramid Technoplast IPO GMP today or grey market premium on Thursday was +25 marginally higher to previous trading session. This indicates Pyramid Technoplast share price were trading at a premium of ₹25 in the grey market on Thursday, according to topsharebrokers.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Pyramid Technoplast share price is ₹191 apiece, which is 15.06% higher than the IPO price of ₹166.

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Updated: 17 Aug 2023, 09:07 PM IST