Pyramid Technoplast to steal ₹150 cr through IPO

Pyramid Technoplast, an industrial packaging company, plans to steal ₹153 crore thru an preliminary public offering which opens subsequent Friday and closes on August 22.

The corporate will provide 92.20 lakh equity shares at a designate fluctuate of ₹151-166.

The provide comprises new equity issuance of ₹91.30 crore and provide for sale of ₹61.75 crore on upper designate band.

The corporate will verbalize ₹40 crore to repay debt and the remaining for working capital and completely different costs.

Traders must account for in lot dimension of 90 equity.

The corporate, which has seven vegetation in Gujarat, manufactures polymer-basically basically based molded merchandise comparable to inflexible Intermediate Bulk Containers (IBC), Polymer Drums, and MS Drums.

Bijaykumar Agarwal, Chairman and Managing Director, Pyramid Technoplast stated with India rising as a prominent manufacturing hub for the chemical and pharmaceutical alternate, the search information from for packaging solutions is predicament to lift and the company is strategically located to reap the effectively off dividend.

Mahesh Peswani, Senior Vice President, PNB Funding Services, the lead supervisor of the disaster stated enthusiastic on the company’s be conscious file, the provide is at an very excellent trying valuation when compared to alternate chums.

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