The doors have swung open for investors as the Pyramid Technoplast Limited's Initial Public Offering (IPO) sets sail today in the primary market. With subscriptions available until August 22, 2023, the IPO presents an intriguing choice for potential bidders. The company has pinned the price band for the Pyramid Technoplast IPO at ₹151 to ₹166 per equity share. Each lot, a collection of 90 shares, forms an integral part of this offer.
Pyramid Technoplast Limited, a manufacturer of polymer-based molded products, is eyeing a total raise of ₹153.05 crore through this IPO venture. Out of this total, ₹91.30 crore will stem from fresh issues, leaving the remaining ₹61.75 crore designated for the OFS route. If successful, the company's stock will be listed on both the BSE and NSE, providing a wider platform for potential investors.
Interestingly, even before the official IPO launch, Pyramid Technoplast Limited's shares have started trading in the unlisted stock market, carrying a premium of ₹28, as reported by market observers.
Here's a rundown of the key details:
GMP Buzz: As per market insiders, the grey market premium (GMP) for Pyramid Technoplast IPO stands at ₹28 today, indicating the premium investors are willing to pay for these shares.
Pricing Insight: The IPO has set its price band between ₹151 to ₹166 per equity share, offering potential investors a range of options to consider.
Timeline: The IPO subscription window opens today and will remain so until August 22, 2023.
Lot Size: Each lot for this IPO comprises 90 shares, allowing bidders to choose their desired investment size.
Funds Raised: Pyramid Technoplast Limited seeks to gather ₹153.05 crore through this IPO, fostering growth and expansion.
Allotment Schedule: The tentative date for the allocation of shares is August 25, 2023.
Registrar's Role: Bigshare Services Pvt Ltd is the appointed registrar for this book build issue, responsible for streamlining the subscription process.
Listing Aspirations: Pyramid Technoplast IPO intends to list its shares on both the BSE and NSE.
Listing Projection: Mark your calendars for a potential share listing on August 30, 2023.
Expert Insights: Delving into the IPO's potential, Axis Capital highlights, "The company's robust product portfolio caters to diverse industries, including chemicals, pharmaceuticals, lubricants, and more." The brokerage firm emphasizes the company's history of serving over 376 customers during the past three financial years.
As the Pyramid Technoplast IPO unfurls its sails, the investment world eagerly watches. With a comprehensive product range and a promising market presence, this IPO beckons both novice and seasoned investors. As the subscription phase whirls on, experts and investors alike await to witness the trajectory of Pyramid Technoplast's journey.