The Platinum Industries IPO date has been confirmed from February 27, 2024 and closes on February 29, 2024. Read the post to learn about Platinum Industries IPO GMP.
Platinum Industries is launching an IPO valued at ₹235.32 crores using a book-building method. The updated proposition includes a total of 1.38 crore shares in fresh offer. From February 27 to February 29, 2024, investors can subscribe to Platinum Industries’ IPO. The allocation process for the Platinum Industries IPO is set to conclude on Friday, March 1, 2024. Platinum Industries’ IPO is on track for listing on both the BSE and NSE, aiming for Tuesday, March 5, 2024.
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Bidding Dates
February 27 till 29
Price Range
₹162 to ₹171 per share
Face Value
₹10 per share
GMP
₹87
Platinum Industries IPO GMP
The Platinum Industries IPO GMP Today is ₹87.
IPO Overview
Investors have the opportunity to purchase shares in Platinum Industries’ IPO within the range of ₹162 to ₹171 per share. Platinum Industries IPO GMP Today is ₹87. A minimum of 87 shares is required for any application. Retail investors have to meet a minimum investment requirement of ₹14,877. Investors are required to commit to a minimum lot size of 14 lots, which translates to 1,218 shares, valued at ₹208,278, to participate in sNII. For bNII, the minimum lot size is 68 lots, amounting to 5,916 shares, valued at ₹1,011,636.
Platinum Industries IPO Details
| IPO Date | 27 February 2024 to 29 February 2024 |
| Listing Date | March 5, 2024 |
| Face Value | ₹10 per share |
| Price | ₹162 to ₹171 |
| Lot Size | 87 share |
| Total Issue Size | ₹216.05 Crores |
| Fresh Issue | ₹216.05 Crores |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 41,163,648 |
| Share Holding Post Issue | 54,924,873 |
Platinum Industries Financial Performance
| Period Ended | 2023 | 2022 | 2021 |
| Revenue | ₹232.56 | ₹189.24 | ₹89.53 |
| Profit After Tax | ₹37.91 | ₹17.75 | ₹4.82 |
| Expense | ₹181.62 | ₹165.28 | ₹82.84 |
| Amount in ₹ Crore | |||
Platinum Industries IPO Dates & Listing Performance
| IPO Open Date | Tuesday, February 27, 2024 |
| IPO Close Date | Thursday 29, 2024 |
| Basis of Allotment | March 1, 2024 |
| Initiation of Refunds | March 4, 2024 |
| Credit of Shares to Demat | March 4, 2024 |
| Listing Date | March 5, 2024 |
| Cut-off time for UPI mandate confirmation | February 29, 2024 at 5pm |
Platinum Industries IPO Market Lot
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 87 | ₹14,877 |
| Retail Maximum | 13 | 1,131 | ₹193,401 |
| S-HNI Minimum | 14 | 1,218 | ₹208,278 |
| B-HNI Minimum | 68 | 5,916 | ₹10,11,636 |
Company Profile
Platinum Industries operates primarily in the stabilizer manufacturing sector. Among their offerings are PVC stabilizers, CPVC additives, and lubricants. They work within the niche of specialty chemicals. Platinum Industries serves diverse sectors such as PVC pipes, profiles, fittings, electrical cables, SPC floor tiles, rigid PVC foam boards, packaging materials, and beyond. In the year 2020, the Indian specialty chemicals business was valued at $29 billion, representing around 26% of the overall chemicals industry (excluding pharmaceuticals). Over the fiscal years 2015-20, the industry grew at a CAGR of 6.7%, owing to increased domestic demand from numerous end-user sectors and rising export volumes.
However, in fiscal 2021, the industry fell 3.4% year on year due to a downturn in economic activity and a corresponding drop in demand from end-user industries. The industry rebounded in fiscal 2022, with an anticipated value of $33.5 billion. Unistone Capital Pvt Ltd assumes responsibility as the book running lead manager for the Platinum Industries IPO, with Bigshare Services Pvt Ltd appointed as the registrar.
Registrar Info
| Name | Bigshare Services Pvt Ltd |
| Phone number | +91 22 6263 8200 |
| Email ID | ipo@bigshareonline.com |
| Website | ipo.bigshareonline.com |
Contact Details
| Name | Platinum Industries Limited |
| Phone number | +91 73045 38055 |
| Email ID | cs@platinumindustriesltd.com |
| Website | platinumindustriesltd.com |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
