Pyramid Technoplast IPO share allotment likely on Friday. Here's how you can check status
Pyramid Technoplast Solutions will likely be finalised on August 25. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar.
On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.
They can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE.
Step 1: Visit the BSE Website
Step 2: Please select the issue name, that is the company's name in the drop down.
Step 3: Enter the application number or PAN number to check the allotment status.
The company's shares are expected to be listed on the exchanges on August 30.
According to market sources, Pyramid Technoplast is commanding a premium of Rs 21 in the unlisted market.
At the upper price band of Rs 166, the stock is expected to list at a premium of 13%.
The IPO of Pyramid Technoplast was subscribed 18 times at close. The non-institutional investors' portion was subscribed the most at 32.24x, followed by retail at 14.72x.
The category reserved for qualified institutional buyers (QIB) was subscribed nearly 10 times.
Pyramid Technoplast is an industrial packaging company engaged in the business of manufacturing polymer-based molded products (Polymer Drums) mainly used by chemical, agrochemical, specialty chemical and pharmaceutical companies for their packaging requirements.
The IPO comprised a fresh issue of 55 lakh shares and an offer for sale of 37.2 lakh shares. The company aims to raise anywhere between Rs 139-153 crore through the IPO and the post implied market cap is likely to be around Rs 611 crore.
Net proceeds from the fresh issue will be used towards debt repayment in part, funding working
