Pyramid Technoplast Ltd. makes a strong debut on the bourses with scrip got listed at Rs 185.00 on the Bombay Stock Exchange, a 11.44 per cent premium to its issue price of Rs 166.00. On the National Stock Exchange, the stock was listed at Rs 187.00.
The company, which raised 0.92 Cr from initial public offering, was subscribed 21.74 times, receiving bids for 2,004.43 lakhs shares against the total issue size of 92.20 lakhs shares.
The company, listed under T Group Securities post its IPO, opened for subscription from Aug 18 to Aug 22.
Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the BSE.
The company anticipates using the proceeds of the issue for Repayment and/or prepayment, in full or part, of certain outstanding borrowings availed by the Company Funding working capital requirements of the Company General corporate purposes.
FIRST OVERSEAS CAPITAL LIMITED,PNB Investment Services Ltd as lead managers & Bigshare Services Private Limited. is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 64,996.60, up 110.09 points, or 0.16 per cent.