Pyramid Technoplast IPO: Issue subscribed 18.29 times on final day

Pyramid Technoplast IPO gets overwhelming response from investors

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26 Aug, 2025 12:21

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The initial public offering (IPO) of Pyramid Technoplast continues to get a good response from investors despite volatility in the market. The offer had got bids for 13.82 crore equity shares against the IPO size of 75.6 lakh shares, with the issue subscribed 18.29 times on August 22, the final day of bidding.

High networth individuals (HNIs) and retail investors bought 32.24 times and 14.72 times their allotted quotas. The portion set aside for qualified institutional buyers (QIBs) has been subscribed 9.94 times.

The polymer-based molded products maker has reserved the half the offer size for retail investors, 30 percent for QIBs and the remaining 20 percent for HNIs.

The Rs 153-crore IPO was subscribed 5.84 times till August 21, the second day of bidding. The price band for the offer has been fixed at Rs 151-166 a share.

The IPO comprises a fresh issue of 55 lakh shares (Rs 91.30 crore at the upper price band) and an offer-for- sale (OFS) of 37.2 lakh shares (Rs 61.75 crore).

Also read: Aeroflex Industries IPO opens for booking. Should you subscribe to the issue?

The fresh issue funds will be used to repay debt and meet working capital requirements, while the OFS money will go to the selling shareholders, the company has said.

The company mopped up Rs 27.55 crore through the anchor book on August 17, a day before the issue opened. Ace investor Vikas Khemani-led Carnelian Structural Shift Fund, and Alchemie Ventures Fund-Scheme I were among the four anchor investors.

Also read: Jupiter Life Line Hospitals raises Rs 123 crore from pre-IPO placement

With six units, Pyramid Technoplast caters to chemical, agrochemical, speciality chemical and pharmaceutical sectors, which use company's polymer drums, intermediate bulk containers and mild steel drums for packaging.