Pyramid Technoplast IPO: Check Important Dates, GMP, Price Band, Lot Size, And Other Important Details Here

The initial public offering (IPO) of Pyramid Technoplast will open for subscription on Friday (August 18) and will close for bidding on Tuesday (August 22). The company intends to raise Rs 153.05 crore through this IPO and the price band of the Pyramid Technoplast IPO has been fixed in the range between Rs 151 to Rs 166 per equity share of face value of Rs 10 each. The lot size for the issue is 90 equity shares and in multiples thereafter.

The IPO of Pyramid Technoplast consists of a fresh issue of 55 lakh shares totalling Rs 91.30 crore and an Offer For Sale (OFS) of 37.20 lakh equity shares aggregating to Rs 61.75 crore on the upper price band of the offer.

The company has proposed to utilise the net proceeds from the offer to cover offer-related costs and the payment or repayment of any outstanding borrowings that it has taken.

Pyramid Technoplast IPO GMP Today

According to data on IPOWatch, Pyramid Technoplast IPO GMP today is Rs 20 per share. Market Observers expect Pyramid Technoplast shares to trade Rs 20 higher than their IPO price in the grey market. Considering the Pyramid Technoplast IPO GMP today, and the upper end of the price band, it is likely that the shares of Pyramid Technoplast IPO will get listed at Rs 186 per share ( Rs 166 + Rs 20).

Important Dates:

Pyramid Technoplast IPO listing date is expected to be August 30 (Wednesday). The company is likely to fix the basis of allotment on August 25 and initiate the refunds on August 28, while the shares will be credited to the demat accounts of eligible investors on August 29.

For the year ending March 2023, the company reported its revenue from operations at Rs 480 crore, while net profit stood at Rs 31.76 crore.

Industry Overview:

The Indian chemicals market was valued at Rs 12,53,02,000 lakhs in 2019 and is expected to grow by 9.3% CAGR to reach 30,40,000 lakhs by 2025. By 2025,  the demand for chemicals is expected to increase by 9% annually. By 2025, the chemical sector is likely to contribute Rs 24,39,00,000 Lakhs to India's GDP.

About the company:

Pyramid Technoplast is an industrial packaging company engaged in the business of manufacturing polymer-based olded products (polymer drums) mainly used by chemical, agrochemical, speciality chemical and pharmaceutical companies for their packaging requirements. The company is one of the few manufacturers of Rigid Intermediate Bulk Containers (IBC) in India having the know-how, technology and equipment to manufacture 1,000-litre capacity IBC. 

The total installed capacity of the company’s Polymer Drum manufacturing units is 18,837 MTPA.