Pyramid Technoplast IPO: Pyramid IPO fully booked, subscribed 1.61 times on day 1

Pyramid Technoplast IPO received overwhelming response from retail investors on day 1. Qualified institutional buyers and non-institutional investors (NIIS) responded positively to the issue on the first day. All three categories were fully booked on day 1.

Pyramid IPO’s retail investors portion was subscribed 1.90 times, NII portion was subscribed 1.06 times, and QIBs portion was subscribed 1.27 times.

Pyramid IPO Subscription Status details

Pyramid IPO has received bids for 1,21,45,950 shares against 75,60,400 shares on offer, according to data from the BSE.

Pyramid Technoplast IPO’s retail investors’ portion received bids for 87,81,210 shares against 46,10,000 shares on offer for this segment.

Pyramid IPO’s non-institutional investors’ portion received bids for 19,59,750 shares against 18,44,000 on offer for this segment.

Pyramid Technoplast IPO’s QIBs portion received bids for 14,04,990 shares against 11,06,400 on offer for this segment.

Also Read: Pyramid Technoplast IPO: GMP, review to subscription status. Apply or not?

Pyramid IPO details

Pyramid Technoplast IPO price band has been fixed in the range between ₹151 to ₹166 per equity share of face value of ₹10 each.

Pyramid Technoplast IPO lot size is 90 equity shares and in multiples of 90 equity shares thereafter.

Pyramid Technoplast IPO garnered a capital of ₹27.55 crore through an anchor book process on Thursday, August 17.

Four investors took part in the anchor book offering, according to the exchange filing of Pyramid Technoplast. These investors include the Carnelian Structural Shift Fund, the Alchemie Ventures Fund, the Pluris Fund, and the Resonance Opportunities Fund.

Also Read: Pyramid Technoplast IPO: Pyramid IPO collects ₹27.55 crore from anchor investors; check details

Pyramid IPO is made up of fresh issue that totals to ₹91.30 crore and offer for sale (OFS) portion aggregates to ₹61.75 crore on upper band price through the Offer.

The net proceeds from the offer will be used to cover offer-related costs as well as the payback and/or pre-payment or repayment, in full or part, of any outstanding borrowings that the firm has taken out.

PNB Investment Services Limited and First Overseas Capital Limited are the book running lead managers (BRLM) for the offer. Bigshare Services Private Limited is the offer’s registrar.

Pyramid Technoplast IPO has reserved not more than 30% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 20% for Non Institutional Investors (NII), and not less than 50% of the offer is reserved for Retail Investors.

Pyramid Technoplast IPO GMP today

Pyramid Technoplast IPO GMP or grey market premium on Friday was +25 lower than the previous trading session. This indicates Pyramid Technoplast share price were trading at a premium of ₹25 in the grey market on Friday, according to topsharebrokers.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Pyramid Technoplast share price is ₹191 apiece, which is 15.06% higher than the IPO price of ₹166.

Pyramid IPO GMP on Thursday was ₹28.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Also Read: Pyramid Technoplast IPO: Pyramid IPO opens tomorrow; here are 10 things to know

Updated: 18 Aug 2023, 05:09 PM IST