Pyramid Technoplast, a manufacturer of polymer-based molded products, is set to launch an initial public offer (IPO) on August 18. The bidding process for the IPO, comprising fresh issuance of shares worth Rs 91.3 crore an and offer for sale (OFS) worth Rs 61.8 crore, will conclude on August 22.

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Here are some of the important things to know about the Pyramid Technoplast IPO:

Important dates

The basis of the allotment of Pyramid Technoplast shares under the IPO is likely to be finalized on August 25. Shares will likely be credited to the accounts of winning bidders on August 29, whereas unsuccessful bidders will likely have refunds initiated the previous day. Pyramid Technoplast shares are likely to be listed, on stock exchanges BSE and NSE, on August 30.

Issue price and lot size

Potential investors will be able to bid for Pyramid Technoplast shares in a price band of Rs 151- 166 apiece under the IPO.
Bidding will be available in multiples of 90 shares, which translates to Rs 13,590-14,940 per lot.

Fund utilisation 

The company plans to utilise the proceeds from the issue towards repayment or of certain debt, funding working capital requirements and for general corporate purposes, according to the red herring prospectus (RHP).

Investor reservation

While up to 30 per cent of the issue is reserved for qualified institutional investors, 20 per cent is reserved for non-institutional investors and the remaining 50 per cent for retail investors.

Financials

Pyramid Technoplast registered a net profit of Rs 31.8 crore for the year ended March 31, 2023, as against a net profit of Rs 26.4 crore for the previous year, according to the RHP.
Its revenue stood at Rs 480 crore for the financial year 2022-23 as against Rs 400.4 crore for the previous year.

What does Pyramid Technoplast do?

Pyramid Technoplast manufactures polymer-based moulded products used by chemical, agrochemical, specialty chemical and pharmaceutical companies for their packaging requirements.