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Sunday, July 14, 2024

IPO Day 2 for Pyramid Technoplast: Subscription, GMP, and Other Information; Should You Buy?

<p>The subscription period for the Pyramid Technoplast IPO begins on Friday, August 18, and ends on Tuesday, August 22. A new equity share sale of Rs 91.30 crore is part of the company’s plan to generate Rs 153.05 crore via its first stake sale, and its promoter Credence Financial Consultancy LLP would sell 37.20 lakh equity shares worth Rs 61.75 crore through the offer-for-sale (OFS) mechanism.</p>
<p>The business, which was founded in 1997, produces polymer-based molded goods (Polymer Drums), which are primarily utilized for packaging needs by chemical, agrochemical, specialty chemical, and pharmaceutical firms. In 1998, Pyramid Technoplast began producing goods for sale.<img decoding=”async” class=”alignnone wp-image-138808″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-know-indias-rank-in-the-world-of-statistics-list-of-the-top-10-gold-reserve-countries-download-2023-08-21t182729.096.jpg” alt=”theindiaprint.com know indias rank in the world of statistics list of the top 10 gold reserve countries download 2023 08 21t182729.096″ width=”1048″ height=”587″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-know-indias-rank-in-the-world-of-statistics-list-of-the-top-10-gold-reserve-countries-download-2023-08-21t182729.096.jpg 300w, https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-know-indias-rank-in-the-world-of-statistics-list-of-the-top-10-gold-reserve-countries-download-2023-08-21t182729.096-150×84.jpg 150w” sizes=”(max-width: 1048px) 100vw, 1048px” title=”IPO Day 2 for Pyramid Technoplast: Subscription, GMP, and Other Information; Should You Buy? 9″></p>
<p>Status of Subscriptions</p>
<p>According to the Pyramid Technoplast IPO subscription status, at 12:15 PM on day two of bidding, the public issue had received 3.40 times as many subscriptions as its retail component had received.</p>
<p>IPO Price Band for Pyramid Technoplast</p>
<p>The pricing range for the initial public offering (IPO) of Pyramid Technoplast has been set at Rs. 151 to Rs. 166 per equity share with a nominal value of Rs.</p>
<p>IPO pyramid lot size</p>
<p>The first Pyramid Technoplast IPO lot size is 90 equity shares, and subsequent lots are in multiples of 90 equity shares.</p>
<p>Anchor Investors in the Pyramid IPO</p>
<p>On Thursday, August 17, the Pyramid Technoplast IPO’s distribution to anchor investors will take place.</p>
<p>IPO information about Pyramid Technoplast</p>
<p>Pyramid Technoplast’s initial public offering (IPO) is composed of a new issue of Rs 91.30 crore and an offer for sale (OFS) part worth Rs 61.75 crore at the upper band price.</p>
<p>Goals of the Pyramid Technoplast IPO</p>
<p>The net proceeds from the offer will be used to pay for offer-related expenses as well as the prepayment, repayment, and/or payback, in whole or in part, of any outstanding borrowings that the business has taken out.</p>
<p>The foundation for the Pyramid Technoplast IPO share allocation will be finalized on Friday, August 25, and the business will start processing refunds on Monday, August 28. On Tuesday, August 29, the shares will be credited to the demat accounts of the allottees. On Wednesday, August 30, it is probable that shares from the Pyramid Technoplast IPO will list on the BSE and NSE.</p>
<p>IPO GMP Pyramid Technoplast</p>
<p>Following the trend reversal on Dalal Street on Monday trades, the grey market has become positive on the public issue. Market watchers claim that shares in Pyramid Technoplast Limited may now be purchased on the black market for a premium of Rs 28. This indicates that the grey market anticipates a listing gain of almost 17% as a result of the public offering. They said that if the present reversal on Dalal Street continues, the grey market premium (GMP) for the Pyramid Technoplast IPO may go even farther to the north.</p>
<p>Investors’ willingness to pay more than the issue price is indicated by the term “grey market premium.”</p>
<p>Do you want to purchase it?</p>
<p>The IPO is priced at 19.2 times P/E, 13.2 times EV/EBITDA, and 1.4 times EV/Sales based on FY23 financial results. According to Reliance Securities’ report on the subject, Pyramid Technoplast, one of India’s top producers of rigid IBCs with a 1,000 liter capacity, manufactures these containers.</p>
<p>“The business maintains enduring connections with local and foreign distributors and suppliers. We advise a’subscribe’ to the offer because to the company’s diverse portfolio of polymer-based goods, sound financial position, large customer base, and emphasis on product quality, it said.</p>
<p>In the plastic packaging market, Pyramid Technoplast has a long history and a solid track record of financial success. The business is growing its operations while maintaining a strong brand presence and a sizable client base. According to Swastika Investmart, it chooses advantageous sites for its production facilities.</p>
<p>“However, the business confronts several threats, including rivalry from newcomers, changes in the cost of raw materials, and shifts in governmental regulations. The business has moreover in the past had a negative cash flow. High-risk investors may apply for this IPO even if the P/E is valued at around 16.24 times, it was said.</p>

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