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Established in 1997, Pyramid Technoplast Limited, known for its polymer-based molded products, has come up with an IPO, leveraging its expertise in providing packaging solutions to chemical, agrochemical, specialty chemical, and pharmaceutical enterprises.
Investors now have the opportunity to tap into the growth opportunity in the polymer drums industry with Pyramid Technoplast Limited IPO.
Pyramid Technoplast Limited IPO is open for subscription from 18th August 2023 to 22nd August 2023.
Here are all the important details of Pyramid Technoplast Limited, including investment price band, allotment date, GMP, benefits, risks of investing in this IPO, and more.
The key details of Pyramid Technoplast Limited are as under.
The size of the IPO and different categories of the issue are:
| Category | Details |
| IPO Opening Date | 18th August 2023 |
| IPO Closing Date | 22nd August 2023 |
| Listing | NSE, BSE |
| Issue Type | Book Built Issue IPO |
| Face value of shares | Re. 10 per share |
| IPO Price Band | Rs. 151 – Rs. 166 per share |
| IPO Size | Rs. 153 crores |
| Offer for Sale | Rs. 62 crores |
| Fresh Issue | Rs. 91 crores |
The important dates for Pyramid Technoplast Limited IPO are highlighted below:
| Event | Date |
| Opening date | 18th August 2023 |
| Closing Date | 22nd August 2023 |
| Allotment date | 25th August 2023 |
| Refund Date | 28th August 2023 |
| Share Credit Date | 29th August 2023 |
| Listing Date | 30th August 2023 |
Investors can subscribe to Pyramid Technoplast Limited shares in pre-defined lots. The details of the lot sizes for this IPO are mentioned below:
| Category | Details |
| Investments in lots | Minimum – 1 lotMaximum – 13 lots |
| Investment amount | Minimum – Rs. 13,590 – 14,940Maximum – Rs. 1,94,220 |
| Shares | Minimum – 90Maximum – 1170 |
Here’s the summary of reservation for different applicant categories in this IPO:
| Category of Investor | Reservation Percentage |
| Retail Individual Investors | 50% |
| QIB (Qualified Institutional Buyer) | 30% |
| NII (Non-Institutional Bidders) | 20% |
The pre-IPO and post-IPO shareholding of Pyramid Technoplast Limited is,
| Shareholder Group | Pre-IPO | Post-IPO |
| Promoter and Promoter Group | 100% | 74.9% |
| Public | 0% | 25.1% |
Pyramid Technoplast IPO is a Fresh Issue and Offer for Sale together. The objectives of this IPO are mentioned below.
Pyramid Technoplast Limited was founded in 1997 and is a leading manufacturer specializing in polymer-based moulded products, particularly Polymer Drums, which find widespread utilization among chemical, agrochemical, specialty chemical, and pharmaceutical companies for their packaging requisites.
The company’s production portfolio encompasses polymer-based bulk packaging drums, Intermediate Bulk Containers (IBC), and MS Drums. These products are instrumental in the packaging and transportation of chemicals, agrochemicals, and specialty chemicals.
The total installed capacity of Polymer Drum manufacturing units is 20612 MTPA.
Pyramid Technoplast commenced commercial production in 1998 and currently operates six manufacturing units, with four located in Bharuch, GIDC, Gujarat, and two in Silvassa, UT of Dadra and Nagar Haveli. Their Polymer Drum facilities have a combined installed capacity of 20,612 MTPA, IBC manufacturing unit capacity is 12,820 MTPA, and MS Drums unit capacity is 6,200 MTPA. A seventh manufacturing unit is under construction in Bharuch, Gujarat.
The company holds UN certification as per United Nations Recommendations for IBC and MS Drums, ensuring safety compliance. Their manufacturing units are ISO 9001:2015/ ISO 14001:2015/ISO 45001:2018 certified for quality, environmental, health, and safety management systems. Their MS Drums adhere to IS 1783:2014 (Part 1 and 2) quality standards set by the Bureau of Indian Standards.
Pyramid Technoplast Limited’s financials are given in the table below:
| Year | Total Assets (Rs. in cr) | Revenue from Operations(Rs. in cr) | Profit after Tax (Rs. in cr) | Basic EPS | Return on Net Worth |
| Mar-2023 | 255 | 480 | 32 | Rs.10.24 | 29.61% |
| Mar-2022 | 184 | 400 | 26 | Rs.8.43 | 34.77% |
| Mar-2021 | 153 | 313 | 17 | Rs.5.41 | 34.79% |
(Source: RHP)
The listed peers of Pyramid Technoplast Limited include Time Technoplast Limited, TPL Plastech Limited and Mold-Tek Packaging Limited.
Some of the key strengths of Pyramid Technoplast Limited IPO that investors can take note of are
| Category | Details |
| Business model | The company has the merit of having a diverse customer base and a comprehensive product portfolio.They have strategically located manufacturing units and up-to-date Quality Standard Certifications & Quality Tests |
| Other merits | The company has a team of experienced promoters and a strong management team with cross industry experience. |
Here are some of the risks that investors of Pyramid Technoplast Limited IPO should know:
| Category | Details |
| Business viability and profitability | Changes in government policies or quality norms may impact business growth, operations, and financials for moulded industrial packaging.Unsuccessful implementation of expansion plans could negatively affect operational and financial outcomes.The Company’s ability to repay ₹205.39 lakhs in unsecured loans is subject to potential recall by lenders. |
| Other concerns | Potential inability to safeguard or utilize intellectual property rights could have adverse effects on the business.Inadequate acquisition, maintenance, or renewal of necessary licenses and approvals may disrupt business operations.The Company’s operations in Bharuch, Gujarat, and Silvassa, UT could face challenges linked to their respective regions. |
As of August 22nd, 2023, the grey market premium for the shares of Pyramid Technoplast Limited IPO is Rs. 22 as per market observers. This means the shares are expected to list at a premium of Rs. 22 per share over the listing cap price of Rs. 166.
Pyramid Technoplast Limited is one of the leading names in polymer-based moulded products and caters to a customer base. The company also has shown consistent financial performance over the past years with a strong growth model and plans to expand its manufacturing capacity. Investors can, however, invest in this company with a long-term perspective after a thorough review of its core fundamentals, its past performance and industry outlook.
The total number of shares on offer under the Pyramid Technoplast IPO is 9220000 equity shares, of which 5500000 are part of the fresh issue and the balance 3720000 equity shares are under the offer for sale.
Investors can invest in this IPO through the Fisdom app.
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