Saturday, June 22, 2024
HomeMarket NewsPyramid Technoplast to raise ₹150 cr via IPO

Pyramid Technoplast to raise ₹150 cr via IPO

Published on

Latest articles

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in Kotak General

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in...

Vodafone Idea shares zoom 14% today; key technical levels to watch out for

Vodafone Idea shares zoom 14% today; key technical levels to watch out for Vodafone Idea...

Nadeem Amin is the New President for Netstal Americas

Nadeem Amin is the New President for Netstal Americas Netstal appoints Nadeem Amin as its...

SCREEN Launches High-Density SU Ink For Uncoated Papers Used By Truepress JET 520HD Mono

SCREEN Launches High-Density SU Ink For Uncoated Papers Used By Truepress JET 520HD Mono It...


Pyramid Technoplast, an industrial packaging company, plans to raise ₹153 crore through an initial public offering which opens next Friday and closes on August 22.

The company will offer 92.20 lakh equity shares at a price range of ₹151-166.

The offer includes fresh equity issuance of ₹91.30 crore and offer for sale of ₹61.75 crore on upper price band.

The company will use ₹40 crore to repay debt and the remaining for working capital and other expenses.

Investors have to bid in lot size of 90 equity.

The company, which has seven plants in Gujarat, manufactures polymer-based molded products such as rigid Intermediate Bulk Containers (IBC), Polymer Drums, and MS Drums.

Bijaykumar Agarwal, Chairman and Managing Director, Pyramid Technoplast said with India emerging as a prominent manufacturing hub for the chemical and pharmaceutical industry, the demand for packaging solutions is set to increase and the company is strategically located to reap the rich dividend.

Mahesh Peswani, Senior Vice President, PNB Investment Services, the lead manager of the issue said considering the company’s track record, the offer is at an attractive valuation compared to industry peers.





Source link

More like this

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in Kotak General

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in...

Vodafone Idea shares zoom 14% today; key technical levels to watch out for

Vodafone Idea shares zoom 14% today; key technical levels to watch out for Vodafone Idea...

Nadeem Amin is the New President for Netstal Americas

Nadeem Amin is the New President for Netstal Americas Netstal appoints Nadeem Amin as its...