Pyramid Technoplast IPO To Open Today: 10 Things To Know, Apply Or Not?

Pyramid Technoplast Limited, a company founded in 1997, manufactures polymer-based moulded products (Polymer Drums), which are primarily utilised by chemical, agrochemical, specialty chemical, and pharmaceutical firms. The subscription window for the company's initial public offering (IPO) will be opened today. Let's examine the IPO's specifics in 10 areas and get expert counsel on whether or not one should apply.

Pyramid Technoplast IPO Details

1. Pyramid Technoplast IPO Price Band: The price band for the main-board IPO has been fixed at Rs 151 to Rs 166 per share at a face value of Rs 10 per share.

2. Pyramid Technoplast IPO size: The company aims to raise Rs 153.05 Crores via its IPO issuing 9,220,000 equity shares of the face value of Rs 10. The initial public offering of 92.2 lakh equity shares consists of an offer-for-sale (OFS) of 37.2 lakh shares worth Rs 61.75 crore by promoter Credence Financial Consultancy LLP and a fresh issue of 55 lakh shares worth Rs 91.30 crore at Rs 166 per share. The company has set aside 20% of the issue size for high-net-worth individuals, 30% for the QIB, and the remaining 50% for regular investors.

3. Pyramid Technoplast IPO GMP: Pyramid Technoplast IPO latest GMP today is Rs 28 as of Aug 18th 2023 07:00 AM, as per the market watchers.

4. Pyramid Technoplast IPO date: The issue will open for subscription on Friday, 18 August 2023 and will close on Tuesday, 22 August 2023.

5. Pyramid Technoplast IPO lot size: Investors may place a minimum bid of 90 equity shares and then bid in multiples of 90 shares. Therefore, retail investors may shell out as little as Rs 14,940 per lot for 90 shares and as much as Rs 1,94,220 for 13 lots with 1,170 shares. The minimum investment for high-net-worth individuals is Rs 2,09,160 for 14 lots carrying 1,260 shares, and the maximum investment is Rs 9,86,040 for 66 lots totalling 5,940 shares.

6. Pyramid Technoplast IPO allotment date: The share allotment of Pyramid Technoplast IPO is likely to be finalized on Friday, 25 August 2023. By August 29, the equity shares will be credited to the demat accounts belonging to eligible investors. By August 28, the refunds will be issued by the company.

7. Pyramid Technoplast IPO registrar: Bigshare Services Pvt Ltd has been appointed as the registrar of the issue.

8. Pyramid Technoplast IPO lead managers: Pnb Investment Services Ltd and First Overseas Capital Ltd are the book-running lead managers of Pyramid Technoplast IPO.

9. Pyramid Technoplast IPO listing: The maiden public issue is proposed for listing on BSE, NSE platforms.

10. Pyramid Technoplast IPO listing date: The listing date of Pyramid Technoplast is Wednesday, 30 August 2023.

Pyramid Technoplast IPO Review

"I strongly believe transportation and packaging are two crucial industries that may evolve but not end. There are many big players in the segment and tomorrow we are going to have one more company that has applied for IPO, Pyramid Technoplast. This company is engaged with special chemicals industrial polymer drums and packaging solutions and it's a demanding business. So now we need to understand the company's financials and its management. Mr Jaiprakash Agarwal, Pushpa Devi Agarwal, Madhu Agarwal, Bijaykumar Agarwal Yash Synthetics Private Limited, and Credence Financial Consultancy LLP are promotors in the company," said V.L.A. Ambala.
"Right now they have 100% holding and post IPO their holding will shrink to 75% (approximately).

They have been running this business since 1998 and growth is sustainable. In the financial year 2023, company earned revenue from operations ₹480 crore and disclosed a net profit was ₹31.76 crore. YoY 2021-2023) Its asset and revenue growth is good and acceptable. In fact, profit after tax has jumped almost 2x for the same period. On the other hand, bowling has increased but not at the pace of total revenue, which is good. This company is going to face tough competition from Time Plasto and Moldtek, TPL. Pyramid Technoplast is trying to launch its IPO nearly to its peer's PE ratio," added V.L.A. Ambala.

"Some reliable names are supporting this IPO such as PNB Investment Services Limited and First Overseas Capital Limited. Bigshare Services Private Limited is the IPO's registrar. Pyramid Technoplast IPO has reserved nearly 30% for Qualified Institutional Buyers (QIB), Approximately 20% for Non-Institutional Investors (NII), and up to 50% of the offer is reserved for Retail Investors. Overall IPO is small in size but we go for it. I do not see any Red Flag in it so it's a "Subscribe" from me," said V.L.A. Ambala (SEBI Registered Research Analyst), Stock Market Today (SMT).

AR Ramachandran from Tips2trades said, "Consistent profit growth coupled with strong return ratios including ROCE & ROE above 20% makes Pyramid Technoplast a very good bet for long term investors. At current valuations, long term investors can subscribe to the issue for better returns ahead."

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.