Platinum Industries IPO listing date has been set for Tuesday, March 5. Platinum Industries IPO allotment of shares was finalized on Friday, March 1. Today (Monday, March 4), will see the crediting of shares to demat accounts for those who have been allotted . stocks For those who did not receive their shares, the refund will also take place today.
Also Read: Platinum Industries IPO allotment is over. Latest GMP, steps to check allocation status online
Investors responded enthusiastically to Platinum Industries IPO on all three days. Platinum Industries IPO subscription status was 99.03 times on Day 3, according to BSE data.
The Platinum Industries IPO opened for bidding on Tuesday, February 27, and closed on Thursday, February 29. Platinum IPO raised. ₹70.59 crore from anchor investors on Monday, February 26.
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Also Read: Platinum Industries IPO allotment status out. GMP jumps as focus changes on the date of stock listing
Let’s check what does Platinum Industries IPO GMP today signal before a list.
Platinum IPO GMP today or Platinum gray market premium is +85. This indicates that the share price of Platinum Industries was trading at a premium of ₹85 in the gray market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the gray market, the expected listing price of Platinum Industries IPO was indicated at ₹85 per which is 49.71% higher than the IPO price of ₹171.
Based on last 35-session gray market activities, today IPO GMP is trending up and expecting a strong listing. The lowest GMP is ₹0, while the highest GMP is ₹100, according to analysts at investorgain.com.
“Grey market premium” indicates the willingness of investors to pay more than the issue price.
Also Read: Platinum Industries IPO oversubscribed on day 3 led by NII, retail investors; check GMP, subscription status, key dates.
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.
Also Read: Platinum Industries IPO Day 2: Issue subscribed 22.22 times, NIIs, retail part sees strong demand; check GMP
Bigshare Services Pvt Ltd is the registrar for the Platinum Industries IPO, while Unistone Capital Pvt Ltd is the book-running lead manager.
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 was 87 equity shares and in multiples of 87 equity shares thereafter.
Platinum IPO reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors. .
Also read: Platinum Industries IPO fully booked in less than an hour of opening; retail, NII ration gets full subscription
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: 04 Mar 2024, 14:18 IST