Pyramid Technoplast’s IPO Subscription: Opening Doors on August 18
Investors’ attention is turning toward the eagerly awaited Pyramid Technoplast IPO, scheduled to launch its subscription phase on August 18. This marks the fourth IPO for the month, following SBFC Finance, Concord Biotech, and TVS Supply Chain Solutions. The upcoming offering encompasses both the issuance of fresh shares and an Offer for Sale (OFS) segment, providing an opportunity for promoters to divest their holdings.
Gray Market Insights: Making Informed Choices
Contrary to the gray market’s typical activity, Pyramid Technoplast’s shares have not generated significant attention. Experts in the market emphasize the importance of basing investment decisions on the company’s financial performance and core fundamentals, rather than relying solely on gray market signals.
In-Depth Insights into Pyramid Technoplast IPO
Commencing from August 18 until August 22, the eagerly anticipated Pyramid Technoplast IPO, valued at Rs 153.05 crore, offers investors an opportunity to subscribe. Within a price band of Rs 151 to Rs 166 per share, investors can partake in this offering with a lot size of 90 shares. The allocation distribution designates 30% to Qualified Institutional Investors (QIBs), 20% to Non-Institutional Investors, and 50% to retail investors. Following the successful IPO closure, share allotments will be finalized by August 25, facilitated by registrar BigShare Services. Subsequently, the shares will debut on both BSE and NSE on August 30.
Exploring Pyramid Technoplast’s IPO Structure
Within this offering, Pyramid Technoplast is set to issue 55 lakh new equity shares. Additionally, an offering of 37.20 lakh shares, each with a face value of Rs 10, will be made available through the Offer for Sale (OFS) window. Notably, Credence Financial Consultancy LLP, the company’s promoter, will utilize the OFS route to divest its shares. The funds raised from the issuance of fresh shares will be allocated to fulfill key financial needs. Specifically, Rs 40 crore will be directed toward debt repayment, while Rs 40.2 crore will be designated for fulfilling working capital requirements and supporting general corporate endeavors.
Delving into Pyramid Technoplast’s Profile
Pyramid Technoplast specializes in the production of plastic drums, catering to the needs of chemical and pharmaceutical industries. Established in 1998, the company initiated its commercial operations with a commitment to quality. Presently, Pyramid Technoplast boasts six operational manufacturing facilities. Among these, four are situated in Bharuch, Gujarat, while the remaining two are located in Silvassa, Dadra and Nagar Haveli. With a steadfast focus on growth, Pyramid Technoplast is further expanding its manufacturing capabilities with the establishment of an additional plant in Bharuch.
Financial Resilience and Growth Trajectory
Noteworthy is Pyramid Technoplast’s consistent financial progress over the past three fiscal years. Its fiscal performance portrays a steady ascent. In FY 2021, the company achieved a net profit of Rs 16.99 crore, a figure that rose to Rs 26.15 crore in FY 2022, and subsequently surged to Rs 31.76 crore in FY 2023. This trend underscores the company’s strategic acumen and
