Pyramid Technoplast shares climb nearly 13 pc in debut trade

New Delhi, Aug 29 (PTI) Shares of packaging company Pyramid Technoplast Ltd on Tuesday made its market debut with a premium of nearly 13 per cent against the issue price of Rs 166.

The stock began the trade at Rs 185, up 11.44 per cent from the issue price on the BSE. It further jumped 13.25 per cent to Rs 188.

At the NSE, it listed at Rs 187, registering a jump of 12.65 per cent.

The Initial Public Offer (IPO) of Pyramid Technoplast had received 18.29 times subscription last week.

The Rs 153 crore IPO had a price range at Rs 151-166 a share.

Pyramid Technoplast is a drum manufacturing company that offers a comprehensive range of packaging solutions. The industrial packaging company is engaged in the business of manufacturing polymer-based molded products (polymer drums) mainly used by chemical, agrochemical, speciality chemical and pharmaceutical companies for their packaging requirements.