Platinum Industries IPO to Open Next Week – at Rs 162 to Rs 171 Per Share

Platinum Industries specialises in the production of stabilizers. The company is engaged in manufacturing PVC stabilisers, CPVC additives, and lubricants and is set to open next week on February 27.

IPO Details

The Upcoming IPO of Platinum Industries will be open for subscription from February 27 and will close on February 29, eventually listing on March 5, 2024. The price band for the IPO is set at Rs 162 to Rs 171, having a face value of Rs 10 apiece. For an application, the minimum lot size is 87 shares. Retail investors are required to make a minimum investment of Rs 14,877.

The total issue size of the IPO is Rs 235.32 crore, comprising solely of a fresh issue of 1.38 crore shares, and it will be listed on both the BSE and NSE exchanges.

In Platinum Industries’ upcoming IPO, Qualified Institutional Buyers (QIBs) can subscribe to up to 50% of the net issue, while retail investors a minimum of 35%. Non-Institutional Investors (NIIs), including High Net Worth Individuals (HNIs), are allocated not less than 15% of the net issue.

Unistone Capital Pvt Ltd is the book-running lead manager of the upcoming Platinum Industries IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Object of the Issue:

The net proceeds from the issue are proposed to be utilised by the company for the following purposes:

• Investment in the subsidiary, Platinum Stabilizers Egypt LLC (“PSEL”), to finance its capital expenditure requirements for setting up a manufacturing facility for PVC Stabilizers at SC Zone in the Governorate of Suez, Egypt.
• Funding the capital expenditure requirements of the company for setting up a manufacturing facility for PVC Stabilizers at Palghar, Maharashtra, India.
• Funding the working capital requirements of our company.
• General corporate purposes.

Financial Performance:

Amount in Rs Crore

Business Overview

Platinum Industries Limited, incorporated in August 2016, specialises in the production of stabilisers. The company is engaged in manufacturing PVC stabilizers, CPVC additives, and lubricants.

The products of Platinum Industries Limited are used in various industries, including PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, rigid PVC foam boards, packaging materials, and more.

The company’s manufacturing facility, located in Palghar, Maharashtra, occupies an area of 21,000 square feet.

Investors are advised to mark the date for IPO application.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.