PYRAMID TECHNOPLAST IPO

Pyramid Technoplast, a polymer-based molded products maker, has fixed the price band for its initial public offering (IPO) at Rs 151-166 per share. The IPO will open for subscription on August 18 and close on August 22. The company is looking to raise Rs 153.05 crore through the IPO.

The IPO comprises a fresh issue of 55 lakh shares and an offer for sale (OFS) of 37.2 lakh shares by promoter Credence Financial Consultancy LLP. The OFS is being done to partially exit the company by the promoter.

Pyramid Technoplast is a leading manufacturer of polymer-based molded products. The company’s products are used in a variety of industries, including automotive, electrical, consumer durables, and healthcare. The company has a strong track record of growth and profitability. In the financial year 2022-23, the company’s revenue grew by 24% to Rs 552 crore and its net profit grew by 41% to Rs 72 crore.

The IPO is being managed by ICICI Securities, Axis Capital, and JM Financial. The book-building process for the IPO will be done on a 75% reservation for qualified institutional buyers (QIBs), 15% reservation for non-institutional investors (NIIs), and 10% reservation for retail investors.

The IPO is a good opportunity for investors to invest in a growing company with a strong track record. The company is well-positioned to benefit from the growth of the polymer-based molded products market in India. The IPO is expected to be subscribed well.

Here are some of the key highlights of the Pyramid Technoplast IPO:

  • The company is a leading manufacturer of polymer-based molded products.
  • The company has a strong track record of growth and profitability.
  • The IPO is a good opportunity for investors to invest in a growing company with a strong track record.
  • The IPO is expected to be subscribed well.
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