Pyramid Technoplast Limited IPO: All you need to know

The bidding for initial public offering (IPO) of Pyramid Technoplast Limited opened on August 18, 2023 and is set to close on August 22, 2023. As per the company’s IPO subscription status, by 2:23 pm on the fourth day of bidding, the public issue has been subscribed 4.08 times whereas its retail portion has been subscribed 4.78 times.

Pyramid Technoplast IPO GMP today

The grey market has gone bullish on the public issue after trend reversal on Dalal Street during Monday deals, according to a report by Mint. The shares of Pyramid Technoplast Limited are available at a premium of Rs 28 in the grey market today, market observers have said. 

The grey market is also expecting around 17 per cent listing gain from the public issue. They said that Pyramid Technoplast IPO grey market premium (GMP) may further go northward if the current reversal on Dalal Street extends further, the report added.

Pyramid Technoplast IPO Share Price

The Pyramid Technoplast IPO share price is Rs 151 to Rs 166 apiece, and the face value is Rs 10 for each share. The lot size of this IPO is 90. If stocks are allotted at Rs 151, an investor will spend Rs 13,590 for the lot. And if the investor gets the IPO with the price of Rs 166 apiece, they will spend Rs 14,940. 

Pyramid Technoplast IPO overview

Many seem to be positive about the IPO based on the company's specialisation in the manufacturing of polymer-based molded products like polymer drums used in chemical, agrochemical, specialty chemical, and pharmaceutical companies. The global market for plastic products is around $3.8 trillion (Rs 3,15,75,150 crore) and in India, it is predicted to grow at a CAGR of 10 per cent in the next five years. 

In the previous years, the company has shown steady growth. In FY23, the profit margin of the company increased up to 11 per cent which is Rs 157.4 crore.

Incorporated in 1997, Pyramid Technoplast is an industrial packaging company. It operates a total of six manufacturing units and produces polymer-based moulded products used by chemical, agrochemical, specialty chemical and pharmaceutical companies. It generates the majority of its revenue from polymer drums (a three-year average contribution of about 54 per cent), followed by rigid intermediate bulk containers or IBC (30 per cent), milled steel drums (10 per cent) and the remaining from sale of scraps and raw materials, according to Value Research.