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Sunday, April 21, 2024

Everything you should know about the Platinum Industries IPO

<p>On Tuesday, February 27, Platinum Industries, a manufacturer of stabilisers, went public with its initial public offering (IPO).</p>
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<p>The total estimated value of Platinum Industries’ IPO is Rs 235.32 crores, and it consists of 1.38 crore shares of completely new issues. The IPO will end on February 29, 2024, after it opens for subscription on February 27, 2024.</p>
<p>With a preliminary listing date of Tuesday, March 5, 2024 on the BSE and NSE, the allocation procedure is anticipated to be completed by Friday, March 1, 2024.</p>
<p>Retail investors must spend a minimum of Rs14,877, with a price range of Rs162 to Rs 171 per share. The minimum lot size for the application is 87 shares. The minimum lot size for sNII investors is 14 lots, or 1,218 shares, totaling Rs 208,278; for bNII investors, it is 68 lots, or 5,916 shares, totaling Rs 1,011,636.</p>
<p>Bigshare Services Pvt Ltd is the registrant for the IPO, while Unistone Capital Pvt Ltd is serving as the book running lead manager.</p>
<p>As of the most recent update on February 27, 2024, at 09:28 AM, the Platinum Industries IPO’s Grey Market Premium (GMP) is Rs 100. The Platinum Industries IPO’s expected listing price, with the price band fixed at Rs 171.00, would be Rs 271 (maximum price plus today’s GMP). This implies a possible profit or loss per share of almost 58.48 percent.</p>
<p>On Monday, February 26, 2024, Platinum Industries allocated 41,28,237 equity shares at a price of Rs. 171 per share, having received Rs. 70.59 crores from anchor investors.</p>
<p>Nav Capital VCC – NAV Capital Emerging Star Fund, Astorne Capital VCC Arven, Saint Capital Fund, Baring Private Equity India AIF 2, Elara India Opportunities Fund, Leading Light Fund VCC – The Triumph Fund, and others were among the anchor investors that took part.</p>
<p>Platinum Industries is a multi-product firm that was founded in August 2016 with a primary emphasis on producing stabilisers, especially PVC stabilisers. The functionality and longevity of PVC-based goods, such as pipes, fittings, electrical wires, cables, and more, are improved by these chemical additions. The business is in the specialty chemicals sector and offers a wide range of products, such as lubricants, CPVC additives, and PVC stabilisers.</p>
<p>Based at a 21,000 square foot production plant in Palghar, Maharashtra, Platinum Industries employs 12 distribution centers in India as of July 2023.</p>
<p>The IPO’s profits will be used for a number of things, such as general business objectives, working capital needs, subsidiary investments, and financing capital expenditures for manufacturing facilities.</p>

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