Pyramid Technoplast Ltd IPO Timeline

Pyramid Technoplast Ltd IPO opens on 18-Aug-2023, and closes on 22-Aug-2023. The Pyramid Technoplast Ltd IPO bid date is from 18-Aug-2023 to 22-Aug-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Pyramid Technoplast Ltd IPO Opening Date 18-Aug-2023
Pyramid Technoplast Ltd IPO Closing Date 22-Aug-2023
Basis of Allotment 25-Aug-2023
Initiation of Refunds 28-Aug-2023
Credit of Shares to Demat 29-Aug-2023
Pyramid Technoplast Ltd IPO Listing Date 29-Aug-2023

Pyramid Technoplast Ltd IPO Lot Size

Pyramid Technoplast Ltd IPO lot size is 90 shares. A retail-individual investor can apply for up to 13 lots (1170 shares or 194220).

Application Lots Shares Amount
Minimum 1 90 ₹14940
Maximum 13 1170 ₹194220

Pyramid Technoplast Ltd IPO Details

Pyramid Technoplast Ltd IPO Date 18-Aug-2023 to 22-Aug-2023
Pyramid Technoplast Ltd IPO Face Value Shares of ₹10 per share
Pyramid Technoplast Ltd IPO Price ₹151 to ₹166 per share
Pyramid Technoplast Ltd IPO Lot Size 90
Issue Size Shares of ₹10 (aggregating up to ₹153.05 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹83.05 Cr)
Offer for Sale Shares of ₹10 (aggregating up to ₹56.17 Cr)
Issue Type Book Built Portion
Listing At BSE, NSE
QIB Shares Offered Not more than 1106400
Retail Shares Offered Not less than 4610000
NII (HNI) Shares Offered Not less than 1844000
Company Promoters Bijaykumar Agarwal, Jaiprakash Agarwal, Yash Synthetics Pvt Ltd.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Repayment and/or pre-payment or repayment, in full or part of certain outstanding borrowings availed by the company
  • 2 Funding working capital requirements of the company
  • 3 General corporate purposes

Company Financials

Pyramid Technoplast Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 225.78 482.03 31.76
03-2022 183.76 402.64 26.15
03-2021 153.46 316.18 16.99
Amount in ₹ Crore
  • Diverse customer base.
  • Comprehensive product portfolio.
  • Strategic location of its manufacturing units.
  • Quality Standard Certifications & Quality Tests.
  • Experienced Promoters and senior management team.
  • Substantial portion of its revenues come from the manufacturing of polymer based molded industrial packaging products like IBC and Polymer Drums.
  • Any change in government policies or quality norms by its customers for molded industrial packaging, which the company may not be able to adhere to, may affect its business growth, operations and financials.
  • The company customers expect it to maintain high quality standards and any failure by the company to comply with such quality standards may have an adverse effect on demand from end customers and on its reputation, business, results of operations and financial condition.
  • The company may lose clients and their business if its products are not able to meet durability and other industry standards.
  • The Company has not entered into any long-term agreements with its customers for purchasing the company products. Its subject to uncertainties in demand and there is no assurance that the company customers will continue to purchase its products. This could impact the business and financial performance of the Company.
  • Polymer including polypropylene and polyethylene is the company primary raw material consumed by it for polymer based molded products including IBC & Polymer Drums and constitutes a significant percentage of the Company's total expenses. Polymer is a derivative of crude oil and any substantial increase in price of crude oil or decrease in the supply of polymer could materially adversely affect the Company's business. Further, while importing polymer, its may subject to risks arising from foreign exchange rate movements. If the company is unable to rightly anticipate foreign exchange movements and hedge its forex risks, the company financial condition may get adversely affected due to forex losses.
  • Mild steel (MS) is the primary raw material required to manufacture MS Drums. MS is manufactured by using iron ore and sponge iron and substantial increase in price of iron ore and sponge iron or decrease in the supply of iron ore and sponge iron could materially adversely affect the manufacturer of MS Drums.
  • If the company has unable to successfully implement its proposed expansion plans, the company results of operations and financial condition could be adversely affected.
  • The company has substantial working capital requirements. Its inability to obtain and / or maintain sufficient cash flow, credit facilities and other sources of funding in a timely manner to meet the company requirements of working capital or payment of its debts, could adversely affect the company operations.
  • Any downgrade of the company debt ratings could adversely affect its business.
  • The company customers' requirements to locate its manufacturing plants in close proximity to their facilities may require capital expenditure and the company may not be able to manage its manufacturing plants at various locations effectively.
  • The company manufacturing units are situated in Bharuch, Gujarat and Silvassa, UT of Dadra & Nagar Haveli and its operations may be affected by various factors associated with the region where the company operate.
  • The company inability to protect or use intellectual property rights may adversely affect its business.
  • The company has certain contingent liabilities that have not been provided for in its Restated Financial Statements, which if realised, could adversely affect the company financial condition.
  • The company have experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect its cash flow requirements, which in turn may adversely affect the company ability to operate its business and implement the company growth plans, thereby affecting its financial condition.
  • There are outstanding legal proceedings involving the Company which may adversely affect its business, financial condition and results of operations.
  • Developments in the competitive environment in the plastic and plastic products industry, such as consolidation among the competitors, could have a material adverse effect on the company competitive position and hence its business, financial condition, results of operations or prospects.
  • The Company has not entered into long-term agreements for the supply of raw materials with our suppliers. Its subject to uncertainties in the supply of raw materials and there is no assurance that the company suppliers will continue to sell raw materials to us as per its requirements. This could impact the business and financial performance of the Company.
  • The company success largely depends upon the services of its senior management and other Key Managerial Personnel (KMP) and the company ability to attract and retain them. Demand for senior management personnel in the industry is intense and its inability to attract and retain the company KMP may affect the operations of the Company.
  • The company do not own the land on which its manufacturing units at Bharuch have been set-up. Any revocation or adverse changes in the terms of the lease may have an adverse effect on the company business, prospects, results of operations and financial condition.
  • The company failure to accurately forecast and manage inventory could result in an unexpected shortfall and/ or surplus of products, which could harm its business.
  • The company inability to respond adequately to increased competition may adversely affect its business, financial condition and results of operations.
  • Any ban on polymer based packaging by the Government of India may affect the company business.
  • In the event of any accident at the company manufacturing units, the Company may be held liable for damages and penalties which may impact the financials of the Company.
  • The company is operating in a labour intensive industry, hence its may face labour disruptions and other planned and unplanned outages that could interfere or temporarily disrupt the company operations.
  • The company business is dependent on its manufacturing units which are strategically located in Gujarat and UT of Dadra & Nagar Haveli. Any shutdown of operations of the compay manufacturing units may have an adverse effect on its business and results of operations.
  • Any reduction in the demand for the company products could lead to underutilization of its manufacturing capacity. The company may also face surplus production of a particular product due to various reasons including inaccurate forecasting of customer requirements, which could adversely affect its business, results of operations, financial condition and cash flows.
  • The Company provides transportation of the raw material and delivery of products by utilising its own fleet of commercial vehicles. Any disruption in their operations or a decrease in the quality of their services could affect the Company's reputation and results of operations.
  • In the event the company fail to obtain, maintain or renew its statutory and regulatory licenses, permits and approvals required to operate its business, the company business and results of operations may be adversely affected.
  • The company business and profitability will suffer if its fail to anticipate rapid changes in customer preferences and the industry on which the company focus.
  • The outbreak of Novel Coronavirus, or outbreak of any other severe communicable disease could have a potential impact on the company business, financial condition and results of operations.
  • The company has exposed to the risks of significant breaches of data security, and malfunctions or disruptions of information technology systems.
  • Industry information included in this Draft Red Herring Prospectus has been derived from the Marketysers Report.
  • The Company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the company financial condition and results of operations.
  • The company agreements with banks and financial institutions for financial arrangements contain restrictive covenants for certain activities and if its unable to get their approval, it might restrict the company scope of activities and impede its growth plans.
  • The company Promoters have provided personal and corporate guarantees for its loans and any failure or default by it to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations, which may adversely affect its Promoters' ability to manage the company affairs.
  • Unsecured loans of Rs. 1,351.31 lakhs taken by the Company from lenders can be recalled at any time.
  • The company cannot assure you that it will be able to secure adequate financing in the future on acceptable terms, in time, or at all. The company failure to obtain sufficient financing could result in delay or abandonment of its business plans and this may have an adverse effect on the company growth and operations.
  • Certain corporate records and statutory records of the Company are not traceable.
  • Any non-compliance in ROC fillings may expose it to fines and/or penalties from the statutory and regulatory authorities.
  • The company Promoters and Promoter Group will continue to retain significant control in the Company after the Offer, which will allow them to influence the outcome of matters submitted to shareholders for approval. Such a concentration of ownership may also have the effect of delaying, preventing or deterring a change in control.
  • The company ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures and are also prohibited by the terms of its financing arrangements.
  • The company insurance cover may not adequately protect it against all material hazards and accidents.
  • The Objects of the Offer for which funds are being raised have not been appraised by any bank or financial institution. The deployment of funds is entirely at the discretion of its management and as per the details mentioned in the section titled "Objects of the Offer". Any revision in the estimates may require it to reschedule the company expenditure and may have a bearing on its expected revenues and earnings.
  • The company may not be able to avail funding from banks or financial institution for its future working capital requirements. The failure to obtain such financing may adversely affect its ability to grow and the company future profitability.
  • Any variation in the utilisation of its Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
  • The Company will not receive any proceeds from the Offer for Sale by the Selling Shareholders.
  • Continued focus on Intermediate Bulk Containers (IBC) by expanding its existing facilities.
  • Continued focus on Polymer Drums and Mild Steel (MS) drums.
  • Explore organic growth opportunities to increase capacity and business.
  • Exploit industry opportunities arising out of the current geo-political situation and government policies.

Pyramid Technoplast Ltd IPO Promoter Holding

Pre Issue Share Holding 95.90%
Post Issue Share Holding 0%

Pyramid Technoplast Ltd IPO Subscription Status (Bidding Detail)

The Pyramid Technoplast Ltd IPO is subscribed 18.29 times on Aug 22, 2023 05:00:00 PM. The public issue subscribed 14.72 times in the retail category, 9.94 times in the QIB category, and 32.24 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) 9.94 32.24 14.72 - 18.29

Pyramid Technoplast Ltd IPO Prospectus

Pyramid Technoplast Ltd IPO Listing Date

Listing Date 29 Aug 23
BSE Script 543969
NSE Symbol PYRAMID
Listing In BSE, NSE
ISIN INE0MIS01010
IPO Price -
Face Value ₹10

Pyramid Technoplast Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Pyramid Technoplast Ltd IPO Lead Manager(s)

  1. PNB Investment Services Ltd
  2. First Overseas Capital Ltd

FAQs on Pyramid Technoplast Ltd IPO

Pyramid Technoplast Ltd IPO, which opens for subscription from 18-Aug-2023 to 22-Aug-2023 has an issue size of ₹153.05 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Pyramid Technoplast Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Pyramid Technoplast Ltd IPO Opens for subscription from 18-Aug-2023 to 22-Aug-2023.

The lot size of Pyramid Technoplast Ltd is 90 shares. Retail investors can subscribe to minimum 1 lot and maximum 13 lots. The minimum and maximum application value is ₹14940 and ₹194220 respectively.

Allotment date for Pyramid Technoplast Ltd is 25-Aug-2023 and refund of application amount (in case allotment is not received) will begin from 28-Aug-2023. If your allotment goes through, then shares will be credited in your Demat account by 29-Aug-2023.

The registrar for Pyramid Technoplast Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Pyramid Technoplast Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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