Pyramid Technoplast Limited, an industrial packaging company known for its expertise in manufacturing polymer based molded products such as rigid Intermediate Bulk Containers (IBC), Polymer Drums and MS Drums, has announced its plans to go public with a proposed Initial Public Offering opening on Friday, 18th August, 2023. The Offer includes fresh issue aggregating ₹ 91.30 crore and offer for sale by the Selling Shareholder aggregating to ₹ 61.75 crore on upper band price through the Offer. The equity shares will be listed on the NSE & BSE.
- Issue Opens on: Friday, August 18, 2023
- Issue Closes on: Tuesday, August 22, 2023
- Face Value: ₹ 10 per equity share
- Issue Size: Upto 92,20,000 equity
- Price Band: ₹151 – ₹166
- Fresh Issue Size – Upto 55,00,000 equity shares
- Offer for Sale – Upto 37,20,000 equity shares
- Issue Size – ₹ 139.22 crore – ₹ 153.05 crore
- Market Lot Size – 90 Equity Shares
The net proceeds from the Offer will be utilized for repayment and/or pre-payment or repayment, in full or part, of certain outstanding borrowings availed by the Company, funding working capital requirements, general corporate purpose and meet Offer related expenses. The Offer will close on 22nd August, 2023.
The Book Running Lead Managers to the Offer are PNB Investment Services Limited and First Overseas Capital Limited. The Registrar to the Offer is Bigshare Services Private Limited.
Mr. Bijaykumar Agarwal, Chairman and Managing Director states, “The Offer marks a significant milestone in our ongoing journey. Our goal is to deliver high-quality products to our valued customers, drawing upon our wealth of experience. With India emerging as a prominent manufacturing hub for the chemical and pharmaceutical industry, we anticipate continuous increase in demand for our packaging solutions. The capital generated from the Offer will play a pivotal role in driving our growth and enabling us to increase the market share.”
Pyramid Technoplast Limited is a industrial packaging company in India, specializing in polymer-based molded products. Further, the Company is one of the leading manufacturers of rigid Intermediate Bulk Containers (IBC) in India manufacturing 1,000 litre capacity IBC. The Company focuses on serving the packaging needs of the chemical, agrochemical, specialty chemical, and pharmaceutical sectors. It manufactures rigid Intermediate Bulk Containers and Mild Steel (MS) Drums for chemical packaging and transport. Founded in 1998, Pyramid Technoplast now operates six manufacturing units across Vilayat Vagra GIDC Bharuch and Silvassa, and its products include Polymer Drums, rigid Intermediate Bulk Containers (IBC), MS Drums and accessories such as, caps, closures, and other items made using blow and injection molding technologies. The total installed capacity of Polymer Drum manufacturing units, IBC manufacturing unit and MS Drums unit of the Company is 20,612 MTPA, 12,820 MTPA and 6,200 MTPA, respectively.
The Company, under its brand name, has long-term relationships with customers and vendors. Its dedication to excellence and customer satisfaction has positioned it as a trusted packaging solutions provider.
