Platinum Industries IPO price band has been set in the range of ₹162 to ₹171 per equity share of a nominal value of ₹10. Platinum Industries IPO lot size is 87 equity shares and in multiples of 87 equity shares thereafter.
Platinum IPO has reserved no more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), no less than 15% for Non-Institutional Investors (NII), and no less than 35% of the offer is reserved for Retail. Investors.
Tentatively, Platinum Industries IPO basis of allotment of shares will be finalized on Friday, March 1 and the company will initiate refunds on Monday, March 4, while the shares will be credited to the demat account of allottees on the same day . Platinum IPO shares are likely to be listed on BSE and NSE on Tuesday, March 5.
Also read: Platinum Industries harvests ₹70.59 crore from anchor investors before IPO
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A multi-product company, Platinum Industries is in the stabilizer manufacturing sector. Platinum Industries’ business segment consists of lubricants, CPVC additives and PVC stabilizers. Platinum Industries works in the market for specialty chemicals. PVC appliances, PVC profiles, SPC floor tiles, rigid PVC foam boards, electrical lines and cables, packaging materials and other items are among the uses for the company’s products.
According to the company’s prospectus (RHP), its listed peers are Supreme Petrochem Ltd (with a P/E of 24.39) and Apcotex Industries Ltd (with a P/E of 22.36).
Platinum Industries IPO Details
Platinum Industries IPO that is worth ₹235.32 crores, contains entirely a new issue, and there is no bid-sale component.
The company intends to use the net proceeds of the offering for the following purposes: investing in Platinum Stabilizers Egypt LLC, its subsidiary; financing of working capital needs; financing capital expenditures required for the establishment of a PVC stabilizer manufacturing facility in Palghar, Maharashtra, India; and overall corporate goals.
The promoters of the company are managing director Krishna Dushyant Rana and managing director Parul Krishna Rana.
Bigshare Services Pvt Ltd is the registrar for the Platinum Industries IPO, while Unistone Capital Pvt Ltd is the book-running lead manager.
Also Read: Platinum Industries IPO to open tomorrow; GMP, release details, 10 key things to know before subscribing ₹235-cr issue
Platinum Industries IPO GMP today
Platinum IPO GMP today or gray market premium is +100. This indicates that the share price of Platinum Industries was trading at a premium of ₹100 in the gray market, according to investorgain.com.
Considering the upper end of the IPO price range and the current premium in the gray market, the estimated listing price of the Platinum Industries share price was indicated at ₹271 a piece, which is 58.48% higher than the IPO price of ₹171.
“Grey market premium” indicates the willingness of investors to pay more than the issue price.
Platinum Industries IPO Review
Dilip Davda
“The company is a multi-product player in PVC stabilizers, lubricants etc. and has created a niche with innovative quality products that fetch high margins. The company has posted growth in its top and bottom lines and the management is confident of maintaining the trends in coming years. Although based on FY24 annual earnings, the issue appears fully priced, it is worth capturing the medium-long term rewards given bright prospects ahead and its timely expansion plans,” said Dilip Davda, the contributing editor at Chittorgarh.
Master Capital Services Ltd
The brokerage claims that Platinum Industries has expanded from its initial two-product line to a multi-product manufacturing business with sales in both domestic and foreign markets. The company intends to grow its manufacturing capabilities to reach a wider global market. Through its subsidiary, the corporation is now establishing a new production plant in Egypt. The company is constantly looking for ways to expand the applications of its goods so that it can serve customers from various sectors and grow its market share.
“The company is in the process of establishing another facility at Palghar, Maharashtra to streamline production and increase capacity engaged in the manufacture of non-lead-based stabilizers. Investors who want to invest can invest in this IPO with a medium-long perspective,” said Vishnu Kant Upadhyay, Assistant Vice President – Research and Advisory at Master Capital Services Ltd.
Also Read: Platinum Industries IPO to open next week. GMP, review, size, other details about upcoming IPO
Disclaimer: The above views and recommendations are those of individual analysts, experts and trading companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 27 Feb 2024, 08:46 IST
(tagsTo Translate)Platinum Industries IPO