On the third day, the retail portion of Platinum IPO was subscribed 36.84 times, the NII portion was reserved 80.60 times, and Qualified Institutional Buyers (QIBs) portion was reserved 4.18 times.
Also Read: Platinum Industries IPO last day of bidding today: Should you subscribe to the issue? Check GMP, subscription status
Platinum Industries IPO continued to gain momentum on the second day of subscription. Platinum Industries IPO subscription status on day 2 was 22.22 times, according to BSE data. The retail portion of Platinum IPO was subscribed 25.56 times, the NII portion was reserved 42.88 times, and Qualified Institutional Buyers (QIBs) portion was reserved 90%.
Platinum Industries IPO was fully booked within the first hour of its opening due to strong response from retail investors and non-institutional investors (NIIs). Platinum IPO subscription status was 8.06 times, according to BSE data.
The retail portion of Platinum IPO was subscribed 10.26 times, the NII portion was reserved 13.60 times, and Qualified Institutional Buyers (QIBs) portion is reserved 7%.
The Platinum Industries IPO opened for bidding on Tuesday, February 27, and will close on Thursday, February 29. Platinum IPO raised. ₹70.59 crore from anchor investors on Monday, February 26.
Also Read: Platinum Industries IPO: Planning to invest? Here are 10 top things to know from RHP before subscribing
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 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.
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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.
Platinum Industries IPO subscription status
Platinum Industries IPO received bids for 35,53,34,970 shares against 96,32,988 shares offered, at 12:54 IST, according to data from the BSE.
The part of the retail investors Platinum IPO received bids for 17,74,51,812 shares against 48,16,429 shares offered for this segment.
The non-institutional investors portion of Platinum Industries IPO received bids for 16,63,65,402 shares as against 20,64,184 offered for this segment.
The QIBs portion of Platinum IPO received 1,15,17,756 shares as against 27,52,375 shares offered for this segment.
Also Read: Platinum Industries IPO opens today: Check latest GMP, subscription status, audit, key dates, more. To apply or not?
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.
Platinum Industries IPO GMP today
Platinum IPO GMP today or Platinum gray market premium is +95. This indicates that the share price of Platinum Industries was trading at a premium of ₹95 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 ₹266 a piece, which is 55.56% higher than the IPO price of ₹171.
“Grey market premium” indicates the willingness of investors to pay more than the issue price.
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: 29 Feb 2024, 13:02 IST