Pyramid Technoplast Limited IPO
An IPO is a way for companies to raise capital by issuing shares to the public for the first time. Pyramid Technoplast Limited is planning to raise funds through this IPO to support its growth, repay debt, and meet its working capital needs.
Basic information about the company: Pyramid Technoplast Limited was incorporated in 1997. The company specializes in producing polymer-based bulk packaging drums, Intermediate Bulk Containers (IBC), and MS Drums. These products are utilized for packaging and transporting various chemicals and agrochemicals.
Pyramid Technoplast operates six manufacturing units. Four of these units are located in Bharuch, GIDC, Gujarat, while the other two are situated in Silvassa, UT of Dadra and Nagar Haveli.
Promoter Holding The promoters of Pyramid Technoplast Limited include Bijaykumar Agarwal, Jaiprakash Agarwal, Pushpa Devi Agarwal, Madhu Agarwal, Yash Synthetics Private Limited, and Credence Financial Consultancy LLP. Before the IPO, the promoter holding was 100%, but after the issue, it will reduce to 74.94%.
Objects of the Issue The company aims to utilize the funds raised from the IPO for the following purposes:
Repayment and pre-payment of outstanding borrowings.
Funding the working capital requirements of the company.
General corporate purposes.
Pyramid Technoplast IPO Details: For investors interested in participating in the IPO, the IPO details are as follows:
Face Value: ₹10 per share
Dates: 18 to 22 August 2023
Price: ₹151 to ₹166 per share
Lot Size: 90 Shares
Total Issue Size: 153.05 Crores
Retail Quota: 50%
Date of Allotment: 25/26 August 2023
Listing Date: 30 August 2023
GMP: 12% to 15% per share (only for information)
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