Pyramid Technoplast IPO:
Pyramid Technoplast Ltd’s much-anticipated initial public offering (IPO) commenced on August 18, 2023, and is set to conclude on August 22, 2023. With just a single day left for investors to participate in the public issue, the bidding process is slated to close today. The grey market sentiment has surged following a market reversal on Dalal Street. Currently, market observers note a premium of ₹30 for Pyramid Technoplast Ltd shares in the grey market.
Latest Pyramid Technoplast IPO GMP:
Market experts reveal that the grey market premium (GMP) for Pyramid Technoplast IPO stands at ₹30 today, marking a ₹2 increase from the previous GMP of ₹28 on Monday. This positive trend in the unlisted stock market is attributed to the upbeat mood in the Indian stock market. The GMP could experience further growth if a significant number of investors opt to apply for the IPO, underscoring the impact of the final subscription status of the Pyramid Technoplast IPO.
Pyramid Technoplast IPO Subscription Status:
After a two-day bidding period, the public issue has garnered a subscription of 5.84 times, while the retail segment has witnessed a robust subscription rate of 6.53 times. The Non-Institutional Investor (NII) segment has exhibited a subscription rate of 6.73 times, with the Qualified Institutional Buyer (QIB) category seeing a subscription rate of 1.49 times.
Is Investing in Pyramid Technoplast IPO a Wise Choice?
Axis Capital, emphasizing the company’s strong fundamentals, stated, “Pyramid Technoplast holds ISO 9001:2015/ ISO 14001:2015/ISO 45001:2018 certifications for their manufacturing units, reflecting their commitment to quality, environment, health, and safety management systems. Their diverse product range includes Polymer Drums, carboys, jerry cans, IBC & MS Drums, and related accessories. Additionally, the company’s MS Drums adhere to the quality standards outlined by the Bureau of Indian Standards.”
Also Read: Pyramid Technoplast IPO Details | GMP, Date, Price, Review
Furthermore, the brokerage highlighted the company’s strategic approach of establishing long-term relationships with both domestic and international vendors, ensuring a diversified vendor base. This strategic move reduces the reliance on a single source and mitigates supply chain risks. Such a strategy enables them to maintain a steady supply of raw materials and secure competitive prices for their products.
Additional Details about Pyramid Technoplast IPO:
The anticipated date for Pyramid Technoplast IPO allotment is August 25, 2023, and the probable listing date is set for August 30, 2023.
About Pyramid Technoplast:
Pyramid Technoplast Limited specializes in plastic items, including drums, barrels, cans, and various plastic containers, catering to clients within India.
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