Pyramid Technoplast IPO to open next week, check price band, GMP and other details 

Shares sale of Pyramid Technoplast via Initial Public Offering (IPO) will begin next week on August 18 and close on August 22. The company is planning to raise Rs 153 crore from the IPO which comprises of fresh issue of Rs 91 crore and fresh issue of Rs 62 crore.

Pyramid Technoplast IPO details 

The IPO involves the company offering shares at a face value of Rs 10 per share. The share price is set between Rs 151 and Rs 166 per share, with a lot size of 90 shares. The total issue size amounts to 9,220,000 shares, aggregating up to Rs 153.05 crore. This includes a fresh issue of 5,500,000 shares, amounting to Rs 91.30 crore, and an offer for sale of 3,720,000 shares at Rs 10 each, totaling Rs 61.75 crore.

The IPO follows a book-built issue model and will be listed on both the BSE and NSE. The company's shareholding will increase from 31,284,800 shares pre-issue to 36,784,800 shares post-issue.

IPO reservations

Qualified Institutional Buyers (QIBs) will have the opportunity to acquire up to 30 per cent of the net offer. Non-Institutional Investors (NIIs), commonly referred to as high net worth individuals (HNIs), will be offered a minimum of 20 per cent of the total shares available in the offer. Retail investors will have a substantial portion reserved for them, with a minimum of 50 per cent of the overall offer dedicated to them.

Pyramid Technoplast IPO GMP

Pyramid Technoplast shares are trading at a premium of Rs 20 in the grey market, as per market observers. The estimated listing price of Pyramid Technoplast's shares is Rs 186 a share, 12 per cent higher than the IPO price.

Pyramid Technoplast's financial performance 

Pyramid Technoplast's assets increased from Rs 183.76 crore in 2022 to Rs 225.78 crore in 2023. Similarly, revenue grew from Rs 402.64 crore in 2022 to Rs 482.03 crore in 2023. The profit after tax also rose from Rs 26.15 crore in 2022 to Rs 31.76 crore in 2023. The company's net worth expanded from Rs 75.20 crore in 2022 to Rs 107.25 crore in 2023, while reserves and surplus increased from Rs 71.29 crore in 2022 to Rs 75.97 crore in 2023. However, total borrowing witnessed a decline, reducing from Rs 64.77 crore in 2022 to Rs 55.34 crore in 2023. 

Objectives of the IPO 

The company plans to use the net proceeds from the issue for several purposes. These include repaying or prepaying certain outstanding borrowings, fulfilling the company's working capital needs, and addressing general corporate requirements.