Pyramid Technoplast IPO saw strong demand on its first day, with a subscription rate of 1.61 times. The IPO, which opened on August 18 and closes on August 22, offers shares in the price range of ₹151 to ₹166 per equity share with a face value of ₹10 each. An anchor book process conducted on August 17 raised ₹27.55 crore in capital.
The IPO comprises a fresh issue amounting to ₹91.30 crore and an offer for sale (OFS) of ₹61.75 crore at the upper price band. The public issue reserves 30% of shares for Qualified Institutional Buyers (QIBs), 20% for Non-Institutional Investors (NIIs), and 50% for Retail Investors.
The grey market sentiment for Pyramid IPO is positive, as it was fully subscribed on day 1. The Grey Market Premium (GMP) on Saturday stood at +28, consistent with the previous trading sessions. This implies that Pyramid Technoplast shares were trading at a ₹28 premium in the grey market.
Based on the upper end of the price band and the current grey market premium, the estimated listing price for Pyramid Technoplast shares is ₹194, representing a 16.87% increase over the IPO price of ₹166. On Wednesday, the GMP was ₹24, with the lowest recorded at ₹19 and the highest at ₹28.
Pyramid Technoplast IPO received significant interest across all investor categories on day 1. Retail investors oversubscribed their portion by 1.90 times, NII portion by 1.06 times, and QIBs by 1.27 times. The total bids received amounted to 1,21,45,950 shares against the 75,60,400 shares on offer, according to data from the BSE.