Pyramid Technoplast Shares End At 5.87% Premium Over IPO Price On Market Debut

Shares of Pyramid Technoplast Ltd. listed at Rs 187 apiece on the NSE, a premium of 11.44% to its IPO price of Rs 166 apiece. The stock debuted at Rs 185 per share, a 12.65% premium, on BSE Ltd.

The shares ended at a premium of 5.87% over the IPO price, though it declined 5% from the listing price to close at Rs 175.75 apiece on the BSE.

The initial public offer of the packaging company was subscribed 18.29 times subscription on the last day of bidding on Tuesday.

The category for non-institutional investors was subscribed 32.24 times, while the retail individual investors received 14.72 times subscription. The qualified institutional buyers got subscribed 9.94 times.

The company has raised Rs 27.54 crore from four anchor investors at Rs 166 per share, according to a BSE circular.

Pyramid Technoplast is a drum manufacturing company that provides an extensive range of packaging solutions. The company specialises in the production of polymer-based molded products, particularly polymer drums.

These drums find primary utilisation among chemical, agrochemical, specialty chemical, and pharmaceutical companies, catering to their diverse packaging needs.