Pyramid Technoplast IPO subscribed 18.29 times
The Initial Public Offer (IPO) of packaging company Pyramid Technoplast received 18.29 times subscription on the last day of bidding on Tuesday.
The Initial Public Offer (IPO) of packaging company Pyramid Technoplast received 18.29 times subscription on the last day of bidding on Tuesday. The Rs 153 crore IPO got bids for 13,82,85,180 shares against 75,60,400 shares on offer, according to NSE data.
The category for non-institutional investors was subscribed 32.24 times while the quota for Retail Individual Investors (RIIs) received 14.72 times subscription. The Qualified Institutional Buyers (QIBs) part got subscribed 9.94 times.
The IPO had a fresh issue of up to 55 lakh equity shares and an offer for sale of up to 37.20 lakh equity shares.
The price range for the offer was Rs 151-166 a share.
Pyramid Technoplast is a drum manufacturing company that offers a comprehensive range of packaging solutions.
The industrial packaging company is engaged in the business of manufacturing polymer-based molded products (polymer drums) mainly used by chemical, agrochemical, speciality chemical and pharmaceutical companies for their packaging requirements.
The company mopped up Rs 27.54 crore through anchor investors on August 17.
PNB Investment Services Ltd and First Overseas Capital were the managers to the offer.
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