Pyramid Tecnoplast IPO: What GMP, subscription status signal on last date of bidding

livemint.com:

Pyramid Tecnoplast IPO: The initial public offering (IPO) of Pyramid Tecnoplast Ltd opened for subscribers on 18th August 2023 and it will remain open for bidders till 22nd August 20223. This means, investors have just one day in hand to apply for the public issue as bidding for the issue will end on Tuesday evening i.e. today.

After trend reversal on Dalal Street, grey market mood has also gone up in regard to the book build issue. According to market observers, shares of Pyramid Tecnoplast Ltd are available at a premium of ₹30 in grey market today. As per the market observers, Pyramid Tecnoplast IPO grey market premium (GMP) today is ₹30, which is ₹2 higher from is Monday GMP of ₹28.

They said that rise in Indian stock market sentiment could be the possible reason for uptrend in unlisted stock market. They said that mood may further go northward if investors come in huge numbers to apply for the IPO. So, much will depend upon the final Pyramid Tecnoplast IPO subscription status.

After two days of bidding, the public issue has been subscribed 5.84 times whereas its retail portion has been subscribed 6.53 times. The NII portion of the initial public offer has been subscribed 6.73 times while QIB category has received 1.49 times. Highlighting strong fundamentals of the company, Axis Capital said, "Their manufacturing units are ISO 9001:2015/ ISO 14001:2015/ISO 45001:2018 certified by quality, environment, health and safety management systems for the manufacture of Polymer Drums, carboys, jerry cans, IBC & MS Drums and accessories connected thereto.