Sunday, February 25, 2024
HomeBusinessPyramid Technoplast Limited IPO Opens on Friday, 18th August, 2023

Pyramid Technoplast Limited IPO Opens on Friday, 18th August, 2023

• Issue Size – Upto 92,20,000 equity shares of ₹ 10 each • Fresh Issue Size – Upto 55,00,000 equity shares of ₹ 10 each • Offer for Sale – Upto 37,20,000 equity shares of ₹ 10 each • Issue Size – ₹ 139.22 crore – ₹ 153.05 crore • Price Band – ₹ 151 – ₹ 166 • Market Lot Size – 90 Equity Shares • Anchor Bidding Period – 17th August, 2023

New Delhi (India), August 12: Pyramid Technoplast Limited (the “Company”), an industrial packaging company known for its expertise in manufacturing polymer based molded products such as rigid Intermediate Bulk Containers (IBC), Polymer Drums and MS Drums, has announced its plans to go public with a proposed Initial Public Offering (the “Offer”) opening on Friday, 18th August, 2023. The Offer includes fresh issue aggregating ₹ 91.30 crore and offer for sale by the Selling Shareholder aggregating to ₹ 61.75 crore on upper band price through the Offer. The equity shares will be listed on the NSE & BSE.

Equity Share Allocation:

• Qualified Institutional Buyers (QIB) – Upto 27,66,000 Equity Shares

• Non-Institutional Investors (NII) – Upto 18,44,000 Equity Shares

• Retail Individual Investors (RII) – Upto 46,10,000 Equity Shares

The net proceeds from the Offer will be utilized for repayment and/or pre-payment or repayment, in full or part, of certain outstanding borrowings availed by the Company, funding working capital requirements, general corporate purpose and meet Offer related expenses. The Offer will close on 22nd August, 2023.

The Book Running Lead Managers to the Offer are PNB Investment Services Limited and First Overseas Capital Limited. The Registrar to the Offer is Bigshare Services Private Limited.

Mr. Bijay kumar Agarwal, Chairman and Managing Director of Pyramid Technoplast Limited states, “The Offer marks a significant milestone in our ongoing journey. Our goal is to deliver high-quality products to our valued customers, drawing upon our wealth of experience. 

With India emerging as a prominent manufacturing hub for the chemical and pharmaceutical industry, we anticipate continuous increase in demand for our packaging solutions. The capital generated from the Offer will play a pivotal role in driving our growth and enabling us to increase the market share.”

Mr. Mahesh Peswani, Senior Vice President at PNB Investment Services Limited says, “The Company has demonstrated consistent growth over the preceding years, and considering its impressive track record and past performance, the Offer presenting attractive valuations in a comparison with industry peers.

The funds generated from the Offer will empower the Company to propel its growth strategies and market share.”

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

RELATED ARTICLES
- Advertisment -
Google search engine

Most Popular

Recent Comments