The Technoplast IPO pyramid received a positive response from retail investors and non-institutional investors (NIIS) on Monday. Eligible institutional buyers also responded positively to the issue on day two. All three categories were fully registered on day 2.
The retail investor portion of Pyramid IPO was registered 6.52 times, the NII part was registered 6.73 times, and the QIB part was registered 1.49 times.
Pyramid IPO registration status details
The IPO pyramid received bids for 4,41,19,440 shares compared with 75,60,400 shares offered for sale, according to data from BSE.
The retail investors section of the Pyramid Technoplast IPO received bids for 300,69,900 shares versus 46,10,000 shares offered for the segment.
The non-institutional investors section of the IPO Pyramid received bids for 1,24,02,360 shares compared with the 18.44,000 offered for the segment.
The QIB portion of the Pyramid Technoplast IPO received bids for 16,47,180 shares compared with 11,06,400 offered for the segment.
Also Read: Technoplast IPO pyramid: IPO pyramid placed first, registered 1.61 times on day one
Pyramid’s Technoplast IPO Details
Pyramid Technoplast’s IPO price range has been fixed in the mid-range $151 to $166 per share of par value or $10 pieces each.
Technoplast’s IPO lot size follows a pyramid of 90 equity shares and then a multiple of 90 equity shares.
Technoplast pyramid IPO has raised capital of $27.55 crore through a fixed bookkeeping process on Thursday, August 17.
According to Pyramid Technoplast’s exchange filing, four investors participated in the anchor book offering. These investors include the Carnelian Structural Change Fund, Alchemy Ventures, the Pluris Fund, and the Resonance Opportunity Fund.
The pyramid IPO is made up of new issuance with a total value $91.30 crore and the offering (OFS) combined into $61.75 crore on upper strip price through Offers.
The net proceeds from the offer will be used to cover expenses related to the offer as well as to repay and/or prepay or repay, in whole or in part, any outstanding loans. that the company has done.
PNB Investment Services Limited and First Overseas Capital Limited are the principal managers (BRLM) for this offer. Bigshare Services Private Limited is an incentive registrar.
Pyramid Technoplast IPO has reserved no more than 30% of the shares in the public offering to Qualified Institutional Buyers (QIBs), not less than 20% to Non-Institutional Investors (NII), and not less than 50% of Offers are available to retail investors.
Also Read: Technoplast IPO Pyramid: The IPO pyramid is set first on day 1; this is what GMP indicates
Technoplast pyramid IPO GMP today
Technoplast pyramid IPO GMP or gray market premium on Monday is +22 lower than in the previous trading session. This shows that Pyramid Technoplast’s stock price is trading at a premium $22 in the gray market on Monday, according to topsharebrokers.com
Considering the upper end of the IPO price range and the current premium on the gray market, the estimated list price of Pyramid Technoplast stock is $188 each, 13.25% higher than the IPO price of $166.
Friday’s GMP IPO pyramid is $22. According to topsharebrokers.com, current GMP ( $22) is showing bearish signal. Given this trend, it could fall further on the listing day. The lowest GMP recorded at $19 while the highest GMP is $28.
A ‘gray market fee’ indicates an investor’s willingness to pay more than the issue price.
Also read: Technoplast IPO pyramid: GMP, registration status, review, apply or not?
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Update: August 21, 2023, 03:59 p.m. IST