scorecardresearchPyramid Technoplast IPO allotment likely today; here's how to check status

Pyramid Technoplast IPO allotment likely today; here's how to check status

Updated: 25 Aug 2023, 12:58 PM IST

Pyramid Technoplast IPO allotment is likely to be finalised today; investors can check the status on BSE and the registrar's website.

Pyramid Technoplast IPO allotment likely to be finalised today.

Pyramid Technoplast IPO allotment likely to be finalised today.

The allotment for the initial public offer (IPO) of industrial packaging company Pyramid Technoplast is likely to be finalised today. Investors can check their allotment status on the issue's registrar Bigshare Services' website as well as on BSE.

The 153 crore IPO was open for subscription between August 18 and August 22 at a price range of 155-161. This was the fourth public issue this month, after SBFC Finance, Concord Biotech, and TVS Supply Chain Solutions.

The issue comprised of a fresh issue of 55 lakh shares worth 91.30 crore and an offer-for-sale (OFS) of 37.2 lakh shares worth 61.75 crore by promoter Credence Financial Consultancy LLP.

The public issue received a strong response from the investors and was overall subscribed to 18.29 times in the 3 days of bidding. It saw bids for 13.82 crore equity shares against an offer size of 75.6 lakh shares. The portion for non-institutional investors was subscribed to 32.24 times while that for retail investors and qualified institutional bidders was booked 14.72 times and 9.94 times, respectively.

The company will debut on the BSE and NSE on August 30.

Here's how you can check the allotment status


1) Go to the website.

2) Select ‘Equity’ and then from the dropdown, select the issue name (Pyramid Technoplast).

3) Enter your application number and PAN card number.

4) Click on the "Search" button.

In a similar way, you can also check on its registrar's website

1) Go to the website of Bigshare Services.

2) Click on ‘Company Selection’ and then select the IPO name (Pyramid Technoplast).

3) Now, enter your PAN, application number, DP / Client ID or account number / IFSC.

4) Click on ‘Search’.

The status will only appear after allotment if the details are entered correctly. It will initiate refunds on Monday, August 28, while the shares will be credited to the Demat account of allottees on Tuesday, August 29.

GMP: Ahead of the listing, the company's shares in the grey market are trading at a premium of 20, indicating a decent listing for the issue. It has fallen from 28 on August 22.

However, one must note that the grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.

Incorporated in 1997, Pyramid Technoplast Limited is an industrial packaging company engaged in the business of manufacturing polymer-based molded products (Polymer Drums), which are primarily used for packaging needs by chemical, agrochemical, specialty chemical, and pharmaceutical firms. The company is one of the leading manufacturers of rigid Intermediate Bulk Containers (IBC) in India manufacturing 1,000-litre capacity IBC. Time Technoplast, TPL Plastech, and Mold-Tek Packaging are the listed industry peers of the company.

Brokerages were mixed on the issue. While some recommended subscribing for the long term given the company's diversified customer base along with the comprehensive product portfolio, others said that the volatile nature of the business, thin margins and consistent levels of debt kept them cautious on the issue.

We explain here how to check IPO allotment status
First Published: 25 Aug 2023, 12:58 PM IST