Pyramid Technoplast IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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Pyramid Technoplast Limited IPO GMP

The Pyramid Technoplast IPO, valued at Rs 153.05 crores, comprises a fresh issue of 0.55 crore shares totaling Rs 91.30 crores and an offer for sale of 0.37 crore shares amounting to Rs 61.75 crores. Bidding for the IPO commenced on August 18, 2023, closing on August 22, 2023, with the allotment finalized on August 25, 2023.

The shares were listed on both BSE and NSE on August 29, 2023, with a price band of ₹151 to ₹166 per share. Retail investors were required to invest a minimum of ₹14,940, with the minimum lot size set at 90 shares. Qualified investors had different minimum lot size investments; sNII at 14 lots (1,260 shares), amounting to ₹209,160, and bNII at 67 lots (6,030 shares), totaling ₹1,000,980.

Pnb Investment Services Ltd and First Overseas Capital Limited served as the book running lead managers, while Bigshare Services Pvt Ltd acted as the registrar for the IPO.

Company may have to revise its funding requirements and deployment from time to time on account of a variety of factors such as our financial and market condition, business and strategy, competition, variation in cost estimates on account of factors, including changes in design or configuration of the equipment and other external factors including changes in the price of the equipment due to variation in commodity prices which may not be within the control of management.

Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

Offer for Sale
Repayment and/or pre-payment, in full or part, of certain outstanding borrowings availed by our Company
Funding working capital requirements of our Company
General corporate purposes.