Pyramid Technoplast IPO allotment Today: How to check your application status and latest GMP

Pyramid Technoplast is likely to finalize the basis of allotment of its shares today, that is, Friday, August 25. The initial stake sale of the polymer-based drum maker had received a strong response from the investors during the three-day bidding process.

Pyramid Technoplast raised a little more than Rs 153-crore by selling its shares in the range of Rs 151-166 apiece. Investors made for a minimum of 90 equity shares and its multiples thereof. The issue was open for bidding between August 18 and August 22.

The issue was overall subscribed 14.72 times, including non-institutional investors' portion being booked 32.24 times; the portion for retail investors was being booked 29.09 times; and The quota reserved for qualified institutional bidders getting subscribed 9.94 times.

Grey market premium (GMP) of Pyramid Technoplast has been hovering in the tight range of Rs 20-25 per share for the last few days. However, it was commanding a GMP around Rs 30 apiece before the opening of the issue. The current grey market signal suggests a mild listing pop for the investors.

Incorporated in 1997, Pyramid Technoplast manufactures polymer-based molded products (Polymer Drums) mainly used by chemical, agrochemical, specialty chemical, and pharmaceutical companies for their packaging requirements. Pyramid Technoplast started its commercial production in 1998.

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Brokerage firms have a mixed view on the issue as a few suggest to 'subscribe' for aggressive bidders to it, citing its fair pricing, healthy financials, strong customer base and long-term relationships with the customers. On the other hand, a few analysts have suggested to give a skip citing inconsistent debt, high competition and thin margin.

PNB Investment Services and First Overseas Capital are the book running lead managers to the issue, while Bigshare Services has been appointed as the registrar to the issue. The company will be listed at both BSE and NSE.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Pyramid Technoplast Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of Bigshare Services Private Limited. (https://ipo.bigshareonline.com/IPO_Status.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.

1) Go to the web portal of Bigshare Services Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.

Bidders who could not get allotment in the IPO may see the initialization of refunds on Monday, August 28. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by Tuesday, August 28. The listing of the IPO is likely on Wednesday, August 30.

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