Pyramid Technoplast Shares List With Over 12% Premium At ₹187 Per Share On NSE
Listing of Pyramid Technoplast on the stock exchange. Pyramid Technoplast Ltd., a manufacturer of polymer-based molded products, made its debut on Dalal Street on Tuesday. Pyramid Technoplast shares were listed on the NSE at £ 187 per share, representing a 12.65% premium to the offer price of £ 166 per share.
On the BSE, shares of Pyramid Technoplast were bought at a premium of 11.45% at £185 per share .
Pyramid Technoplast's IPO from August 18 to 22 attracted a large number of subscribers. In total, Pyramid Technoplast was oversubscribed 18.29 times during the initial public offering (IPO), as 13.83 million shares were offered for issue, including 92.2 thousand shares in the offering.
The Technoplast Pyramid IPO was subscribed 14.72 times in retail and 32.24 times in the non-institutional investors (NII) category. The qualified institutional buyer (QIB) ratio was recorded at 9.94 times.
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The company raised Rs 153.05 crore through the IPO, which saw a fresh issue of 55 lakh shares at Rs 91.30 each and an offer for sale (OFS) of 37.20 crore shares worth up to Rs 61.75 crore included.
Pyramid Technoplast's IPO price range was between £151 and £ 166 per share, with a minimum of 90 shares.
Ahead of its IPO, Pyramid Technoplast Ltd raised £ 27.55m through an anchor registration process on 17 August.
Four investors participated in the book placement, including Carnelian Structural Shift Fund, Alchemie Ventures Fund, Pluris Fund and Resonance Opportunities Fund.
Read here. IPO of Pyramid Technoplast. Pyramid IPO raises £ 27.55m from major investors; check details
The company has reserved more than 30% of its public shares for qualified institutional buyers (QIB), at least 20% for non-institutional investors (NII), and at least 50% of the offering is retail only. Investors:
The net proceeds of the offering will be used to pay expenses related to the offering and to repay, in whole or in part, and/or repay or settle any outstanding borrowings incurred by the Company.
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Pyramid Technoplast is presented by Jaiprakash Agarwal, Pushpa Devi Agarwal, Madhu Agarwal, Bijaykumar Agarwal, Yash Synthetics Private Limited and Credence Financial Consultancy LLP.
The company manufactures intermediate bulk containers (IBCs), MS drums and polymer-based bulk packaging drums for packaging and transport of chemicals, agrochemicals and specialties.
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Updated: August 29, 2023 at 10:00 am EST.
