Pyramid Technoplast is into Industrial Packaging and is looking raise funds through Fresh Issue and Offer for Sale
Pyramid Technoplast IPO Update:
Pyramid Technoplast Limited IPO: Mumbai based Pyramid Technoplast Limited established in the year 1997 and is into Industrial - Packaging sector.
Company is promoted by Bijaykumar Agarwal, Jaiprakash Agarwal Yash Synthetics Private Limited, Credence Financial Consultancy LLP, Pushpa Devi Agarwal and Madhu Agarwal.. Pre-Offer Promoter and Promoter group stake in the company is 100.%.
Pyramid Technoplast Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 153 Crores calculated on upper price band (face value of INR 10 per share) via initial public offering.
Initial Public Offer comprising of a Fresh Issue of up to 55,00,000 Equity Shares and an Offer for Sale up to 37,20,000 Equity Shares. PNB Investment Services, First Overseas Capital have been appointed as lead merchant bankers for the proposed IPO. It has appointed Bigshare Services Private Limited as Registrar and Share transfer Agent.
Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 151 to Rs 166 with lot size of 90 shares and in multiples thereof. Objects of the issue is 1) Repayment and/or pre-payment or repayment, in full or part, of certain outstanding borrowings availed by the Company amounting to Rs. 400 crores, 2) Funding working capital requirements of the company amounting to Rs. 402.14 crores, and 3) General corporate purposes.
IPO Dates:
IPO will open on August 18, 2023 and close on August 18, 2023. Tentative date of listing on stock exchanges is August 30, 2023
About Industry:
The growth of polymer drums & HM HDPE in India is owing to the rising demand for food & beverage products & ingredients, industrial packaging, chemical industry, pharmaceutical and others. With a median age of 28 years old, the Indian population is significantly younger than that of several other Asian nations. With 34.5% of the population residing in urban areas, the urban population is growing. The middle class in India, which makes up 5% of the population in 2020, is predicted to steadily expand to represent 40% of all consumption in India by 2025.
Want to know more details about the IPO, please visit here Pyramid Technoplast Limited
Source: SEBI, BSE, NSE, DRHP, Pyramid Technoplast, Industry Data
Disclaimer: Above article only publishes details about the IPO and for educational purpose only. It doesn't solicit or invite any interest to invest in any kind of securities. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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