Pyramid Technoplast Set to Launch IPO: Key Details and Financial Outlook

Pyramid Technoplast, a producer of molded products based on polymers, is gearing up for its inaugural public offering (IPO) slated for August 18. The IPO comprises the fresh issuance of shares valued at ₹91.3 crores and an offer for sale (OFS) totaling ₹61.8 crores. The bidding process is set to conclude on August 22. Here are key insights about the Pyramid Technoplast IPO.

All About the Pyramid Technoplast IPO

The finalization of allotment for the shares within the IPO is anticipated to occur on August 25. Shares are likely to be credited to successful bidders’ accounts on August 29, with refunds initiated for unsuccessful bidders on a preceding day. Pyramid Technoplast’s shares are expected to be listed on the BSE and NSE stock exchanges on August 30.

Potential investors can place bids for Pyramid Technoplast shares within a price range of ₹151 to ₹166 each during the IPO. Bidding will be conducted in multiples of 90 shares, equivalent to a range of ₹13,590 to ₹14,940 per lot.

The company intends to channel the IPO proceeds towards repaying certain debts, funding working capital requirements, and addressing general corporate needs, as detailed in the red herring prospectus (RHP).

Qualified institutional investors have reserved up to 30% of the issue, while non-institutional investors hold a reservation of 20%. The remaining 50% is designated for retail investors.

For the fiscal year ending on March 31, 2023, Pyramid Technoplast recorded a net profit of ₹31.8 crores, a notable increase from the previous year’s net profit of ₹26.4 crores, as stated in the RHP. Its revenue for the fiscal year 2022-23 stood at ₹480 crores, marking growth from the previous fiscal’s revenue of ₹400.4 crores.

Pyramid Technoplast specializes in the production of polymer-based molded products catering to the packaging requirements of chemical, agrochemical, specialty chemical, and pharmaceutical companies.