Pyramid Technoplast IPO to list on BSE and NSE on 18th Aug aims to garner Rs 153 Cr
Net proceeds to be utilized for repayment of certain outstanding borrowings
The Company has demonstrated consistent growth over the preceding years and has an impressive track record
BILKULONLINE
Ahmedabad, Aug 15: Pyramid Technoplast Limited IPO is all set to open from 18th August to 22nd August 2023. Pyramid Technoplast produces moulded items made from polymers (Polymer Drums). The IPO includes a fresh issue of ₹55,00,000 equity shares and an Offer-for-Sale (OFS) of 37,20,000 equity shares. The issue size is ₹153.05 cr.
Issue Size – Upto 92,20,000 equity shares of Rs 10 each
Fresh Issue Size – Upto 55,00,000 equity shares of Rs 10 each
Offer for Sale – Upto 37,20,000 equity shares of Rs 10 each
Issue Size – Rs 22 crore – Rs 153.05 crore
Price Band – Rs 151 – Rs 166
Market Lot Size – 90 Equity Shares
Anchor Bidding Period – 17th August, 2023
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 which opens for subscription on August 18th, 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.
Bijaykumar 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.”
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.”
Pyramid Technoplast Limited IPO is all set to open from 18th August to 22nd August 2023. Pyramid Technoplast produces moulded items made from polymers (Polymer Drums). The IPO includes a fresh issue of ₹55,00,000 equity shares and an Offer-for-Sale (OFS) of 37,20,000 equity shares. The issue size is ₹153.05 cr.
The Pyramid Technoplast IPO to list on BSE and NSE. The company reported revenue of ₹403 crores in 2022 against revenues of ₹316 crores in 2021.
Pyramid Technoplast Ltd, a polymer based specialist manufacturer, was incorporated in the year 1997 to manufacture polymer-based molded products. Better known as Polymer Drums, they are principally used for packaging in industries like chemicals, agrochemicals, specialty chemicals, and pharmaceutical sectors, where in the contained material is volatile or corrosive. Some of its key products include polymer-based bulk packaging drums and Intermediate Bulk Containers (IBC). It also specializes in the manufacture of MS Drums for packaging and transporting of volatile chemicals, agrochemicals, and specialty chemicals. It currently has 6 manufacturing units, of which 4 are located in GIDC, Bharuch while the other 2 are located in Silvassa, Dadra & Nagar Haveli. Pyramid Technoplast Ltd has total polymer drum manufacturing capacity of 20,612 MTPA, IBC manufacturing capacity of 12,820 MTPA and MS Drums manufacturing capacity of 6,200 MTPA. It is currently foraying into building its seventh plant, also located at the Gujarat Industrial Development Corporation (GIDC), Bharuch.
Bijaykumar Agarwal, Jaiprakash Agarwal, Pushpa Devi Agarwal, Madhu Agarwal, Yash Synthetics Private Limited, and Credence Financial Consultancy LLP are the company’s promoters.
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