Platinum Industries IPO: Check Out Price Band, Reserve Portion & More

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by Sandip Das on 27 February 2024,  5 min read

Platinum Industries IPO: Check Out Price Band, Reserve Portion & More
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Platinum Industries IPO opens for subscription on February 27, 2024. The issue will close on February 29, 2024. The IPO’s price band has been fixed in the range of Rs 162 to Rs 171 per equity share of face value of Rs 10. Platinum Industries IPO lot size is 87 equity shares and in multiples of 87 equity shares thereafter.

About the company

Platinum Industries, a multi-product firm in the stabilizer manufacturing sector, operates in the market for specialty chemicals. The business segment includes lubricants, CPVC additives, and PVC stabilizers. The company’s products find applications in PVC fittings, PVC profiles, SPC floor tiles, rigid PVC foam boards, electrical lines and cables, packaging materials, and other items.

Price Band

The company has fixed the IPO’s price band in the range of Rs 162 to Rs 171 per equity share.

Issue Size

The Platinum Industries IPO consists of a fresh issuance of 1.38 crore shares, and its estimated value is Rs 235.3 crore.

Also read: Exicom Tele-Systems IPO: Top Things To Know Before Subscribing To The Issue
IPO Reserve Portion
  • Qualified Institutional Buyers (QIB): Not more than 50% of the shares
  • Non-Institutional Investors (NII): Not less than 15%
  • Retail Portion: Not less than 35% of the offer
Company Financials
Particulars Period Ended Sept 30, 2023 Fiscal 2023
Total Income (Rs million) 1,237.34 2,325.55
Profit After Tax (Rs million) 228.35 375.84
Objectives of the Issue

The company plans to utilize the net proceeds from the offering for the following purposes: investing in its subsidiary, Platinum Stabilisers Egypt LLC; financing working capital needs; funding capital expenditures required for establishing a PVC stabilizer manufacturing facility in Palghar, Maharashtra, India; and addressing general corporate purposes.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.

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