Wow, exciting news from the world of investments! The Pyramid Technoplast initial public offering (IPO) is grabbing everyone's attention as it gets subscribed a whopping 3.59 times on just the second day of its offering. That's right, investors are showing a lot of interest in this company and its potential for growth.
Guess what? The retail investors are leading the pack here. They've jumped on this opportunity with a massive 4.20 times oversubscription rate. Not far behind, non-institutional investors are also quite keen, subscribing at a rate of 3.5 times. Even the big players, known as qualified institutional buyers (QIB), are interested, with a subscription rate of 1.3 times.
Now, here's a cool tidbit: something called the grey market premium (GMP) for Pyramid Technoplast is around Rs 26. This is kind of like the extra excitement around the IPO, especially when the upper price is Rs 166.
Experts are giving a thumbs up to this IPO. They're saying that the company has lots of different customers and a wide range of products, which is a great sign for its future growth.
So, what does Pyramid Technoplast do? They're all about making stuff out of a material called polymer. They create things like polymer drums, which are super useful for packing things in industries like chemicals, agrochemicals (fancy name for farming stuff), specialty chemicals, and even pharmaceuticals.
Okay, let's break down the IPO stuff. There are two parts: first, they're selling 55 lakh new shares (that's a lot!). Then, there's something called an offer for sale (OFS), where the company's promoter is selling 37.2 lakh shares.
Now, they're dividing these shares among different kinds of investors. Some shares are for big investors, some for not-so-big ones, and a lot for regular folks like us.
The company wants to get around Rs 139 crore to Rs 153 crore from this IPO. If they do, their total value might end up being around Rs 611 crore.
What will they do with all this money? Well, they're planning to pay off some debts, make sure they have enough money for everyday stuff, and take care of other things the company needs.
For the year that ended in March 2023, these guys made Rs 480 crore from their business, and their profit was a cool Rs 31.76 crore.
Hold on, there's more! The shares will be decided around August 25, and if everything goes smoothly, they might start trading around August 30.
Making all this happen are some important people: PNB Investment Services and First Overseas Capital are leading the way, while Bigshare Services is making sure everything's in order.
So there you have it, the scoop on Pyramid Technoplast's exciting IPO adventure. People are really excited about their polymer products and their potential to grow. Let's keep an eye on this one!