Pyramid Tecnoplast IPO: What GMP, subscription status signal on last date of bidding
Pyramid Tecnoplast IPO: The initial public offering (IPO) of Pyramid Tecnoplast Ltd opened for subscribers on 18th August 2023 and it will remain open for bidders till 22nd August 20223. This means, investors have just one day in hand to apply for the public issue as bidding for the issue will end on Tuesday evening i.e. today. After trend reversal on Dalal Street, grey market mood has also gone up in regard to the book build issue. According to market observers, shares of Pyramid Tecnoplast Ltd are available at a premium of ₹30 in grey market today.
Pyramid Tecnoplast IPO GMP today
As per the market observers, Pyramid Tecnoplast IPO grey market premium (GMP) today is ₹30, which is ₹2 higher from is Monday GMP of ₹28. They said that rise in Indian stock market sentiment could be the possible reason for uptrend in unlisted stock market. They said that mood may further go northward if investors come in huge numbers to apply for the IPO. So, much will depend upon the final Pyramid Tecnoplast IPO subscription status.
Pyramid Tecnoplast IPO subscription status
After two days of bidding, the public issue has been subscribed 5.84 times whereas its retail portion has been subscribed 6.53 times. The NII portion of the initial public offer has been subscribed 6.73 times while QIB category has received 1.49 times.
Pyramid Tecnoplast IPO: Apply or not?
Highlighting strong fundamentals of the company, Axis Capital said, “Their manufacturing units are ISO 9001:2015/ ISO 14001:2015/ISO 45001:2018 certified by quality, environment, health and safety management systems for the manufacture of Polymer Drums, carboys, jerry cans, IBC & MS Drums and accessories connected thereto. Further, their MS Drums meet quality standards as laid down by Bureau of Indian Standards.”
The brokerage went on to add that the company has long term relationships with distributors or vendors, both domestic and international, and have multiple vendors for particular components rather than relying on single sources in order to de-risk themselves from supply chain problems. This also allows them to ensure availability for their raw materials as well as enables them to secure the best possible prices for their products.
Pyramid Tecnoplast IPO other details
Most likely Pyramid Tecnoplast IPO allotment date is 25th August 2023 and likely date for Pyramid Tecnoplast IPO listing is 30th August 2023.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 22 Aug 2023, 10:01 AM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.