Pyramid Technoplast is into Industrial-Packaging and is looking raise funds through Fresh Issue and Offer for Sale
Quick Pointers
- Promoters of the company are Bijaykumar Agarwal, Jaiprakash Agarwal Yash Synthetics Private Limited, Credence Financial Consultancy LLP, Pushpa Devi Agarwal and Madhu Agarwal. Currently promoters hold 100% stake in the company.
- Company aims to raise between Rs 139 to 153 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Repayment and/or pre-payment or repayment, in full or part, of certain outstanding borrowings availed by the Company amounting to Rs. 400 crores and 2) Funding working capital requirements of the company amounting to Rs. 402.14 crores
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 17-Aug-23.
- Price band for the IPO has been fixed at Rs 151 to 166 per share and bid lot are in multiple of 90 The implied market cap post-issue at Rs 555 to 611 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on August 25 and share are expected to be listed on NSE, BSE on August 30.
- Company has direct competition in the packaging space with listed peers Time Technoplast Limited, TPL Plastech Limited, Mold-Tek Packaging Limited
- PNB Investment Services, First Overseas Capital has been appointed as Merchant Banker to the issue. Bigshare Services Private Limited has been appointed as official registrar of the issue.
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About Company
Mumbai based Pyramid Technoplast established in 1997 is in to industrial packaging segment. Company manufacturs polymer based molded products (Polymer Drums) mainly used by chemical, agrochemical, speciality chemical and pharmaceutical companies for their packaging requirements. It is also manufacturers of rigid Intermediate Bulk Containers (IBC) in India manufacturing 1,000 litre capacity IBC (Source: Marketysers Report) along with manufacturing of MS drums made of mild steel (MS) used in the packaging and transport of chemicals, agrochemicals and speciality chemicals.
About Industry
The growth of polymer drums & HM HDPE in India is owing to the rising demand for food & beverage products & ingredients, industrial packaging, chemical industry, pharmaceutical and others. With a median age of 28 years old, the Indian population is significantly younger than that of several other Asian nations. With 34.5% of the population residing in urban areas, the urban population is growing. The middle class in India, which makes up 5% of the population in 2020, is predicted to steadily expand to represent 40% of all consumption in India by 2025.
Promoters of the company are Bijaykumar Agarwal, Jaiprakash Agarwal Yash Synthetics Private Limited, Credence Financial Consultancy LLP, Pushpa Devi Agarwal and Madhu Agarwal. Currently promoters hold 100% stake in the company.
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