Pyramid Technoplast Ltd. has announced public offering of 9220000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 156.00 per share. The gross proceeds of the issue are expected to be Rs 15,305.20 lakhs.

The company's initial public offer (IPO) will open on 18 August 2023 and is expected to close on 22 August 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 151.00-166.00 per share.

The IPO includes a fresh Issue of 9220000 Equity Shares of the Company at an price of Rs 166.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 90 shares with bids in multiples of 90.

Pyramid Technoplast Ltd. 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 manager(s) & Bigshare Services Private Limited. is the registrar, to the issue.