Platinum Industries is scheduled to hit the market on February 27, 2024 and close on February 29, 2024. Platinum Industries plans to raise around ₹235.32 Cr through an IPO with a sale of up to 13,761,225 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Platinum Industries Limited, established in August 2016, specializes in manufacturing stabilizers, including PVC stabilizers, CPVC additives, and lubricants. Their range of products finds applications in various industries such as PVC pipes, profiles, fittings, electrical wires, SPC floor tiles, PVC foam boards, and packaging materials. The company's manufacturing facility, located in Palghar, Maharashtra, spans 21,000 sq. ft. of land and has shown impressive growth over the years, with revenue from operations increasing at a CAGR of 42.11% from ₹284.19M in 2018 to ₹2,340.56M in 2023.
By July 2023, Platinum Industries Limited had expanded its reach with twelve distribution centers strategically positioned across India. As of May 31st, 2023, the production unit boasted a workforce of 71 employees and 17 workers, reflecting the company's commitment to maintaining a dedicated team to support its manufacturing operations and meet the growing demands for its high-quality stabilizer products.
Platinum Industries IPO Details
Platinum Industries IPO opens on Feb 27, 2024, and closes on Feb 29, 2024. The Listing date for Platinum Industries IPO is on Mar 05, 2024. The price band for IPO is ₹162 to ₹171 per share and lot size of 87 Shares.
| IPO Date | Feb 27, 2024 to Feb 29, 2024 |
| Listing Date | Mar 05, 2024 |
| Price | ₹162 to ₹171 per share |
| Lot Size | 87 Shares |
| Issue Size | ₹235.32 Cr |
| Face Value | ₹10 per share |
Platinum Industries IPO Tentative Timetable
Platinum Industries opening date is February 27, 2024 and close date is February 29, 2024. The IPO allotment date is March 01, 2024. The refund initiation of IPO is on March 04, 2024. The credit of shares in demat account is on March 04, 2024. The listing date is on March 05, 2024.
| Event | Date |
|---|---|
| IPO Opening | Feb 27, 2024 |
| IPO Closing | Feb 29, 2024 |
| IPO Allotment Date | Mar 01, 2024 |
| Refund Initiation | Mar 04, 2024 |
| Shares Credit to Demat | Mar 04, 2024 |
| Lisiting Date | Mar 05, 2024 |
Platinum Industries IPO Lot Size
Lot Size of this IPO is 87 shares. A retail-individual investor can apply for up to 13 lots (1131 shares or ₹193,401).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 87 | ₹14,877 |
| Retail(Maximum) | 13 | 1131 | ₹193,401 |
| S-HNI (Minimum) | 14 | 1,218 | ₹208,278 |
| B-HNI (Minimum) | 68 | 5,916 | ₹1,011,636 |
Platinum Industries IPO Promoter Holding
| Pre Issue Share Holding | 94.74% |
| Post Issue Share Holding | % |
Platinum Industries IPO Review
Platinum Industries Limited's IPO stands out as a promising investment opportunity in the chemicals sector, driven by robust financial performance and strategic growth plans. The company's impressive revenue growth of 22.89% and profit after tax surge of 111.76% between March 2022 and March 2023 underscore its strong market position and operational efficiency. Notably, key performance indicators like a high Return on Net Worth (RoNW) of 61.26% and a healthy Price-to-Book Value (P/BV) ratio of 11.13 reflect the company's solid fundamentals and potential for sustained growth.
The planned utilization of net proceeds from the IPO, including investments in subsidiary expansion and capital expenditure for manufacturing facilities, demonstrates Platinum Industries' commitment to enhancing production capabilities and meeting evolving market demands. With a focus on strengthening operations in both India and Egypt, the company showcases a forward-looking approach towards sustainable growth and value creation for stakeholders. The post-issue metrics, such as an EPS of Rs 8.31 and a P/E ratio of 20.57, offer an attractive valuation proposition to investors looking to capitalize on the company's growth trajectory and industry prospects.
Investors looking for exposure to a dynamic player in the chemicals industry can find value in Platinum Industries Limited's IPO, given its solid financial performance, prudent capital structure, and strategic expansion plans. The company's market capitalization of Rs 939.22 Cr. and competitive positioning further enhance the investment case, offering an opportunity to participate in the growth story of a company poised for success in the evolving market landscape. By aligning with Platinum Industries' growth strategy and commitment to operational excellence, investors can potentially benefit from long-term value creation and capital appreciation in the vibrant chemicals sector.
Platinum Industries IPO Subscription Status (Bidding Details)
Table not foundPlatinum Industries IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Platinum Industries IPO FAQs
What is Platinum Industries IPO?
Platinum Industries is issuing 13,761,225 equity shares with a face value of ₹10 each, totaling up to ₹235.32 Cr. The shares are being offered at a price of ₹162 to ₹171 each, with a minimum order quantity of 87 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Platinum Industries IPO will open?
Platinum Industries will open on February 27, 2024 for QIB, NII, and Retail Investors.
When Platinum Industries IPO will end?
Platinum Industries will end on February 29, 2024.
What is Platinum Industries IPO Size?
Platinum Industries IPO size is ₹235.32 Cr.
What is Platinum Industries IPO Price Band?
Platinum Industries price band is ₹162 to ₹171 per share.
What is the Platinum Industries IPO Allotment Date?
Platinum Industries allotment date is March 1, 2024.
What is the Platinum Industries IPO Listing Date?
Platinum Industries listing date is March 05, 2024. The IPO is to be listed on BSE and NSE.
How to Platinum Industries IPO through Zerodha?
To apply for the IPO “Platinum Industries” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Platinum Industries IPO through Upstox?
To apply for the IPO “Platinum Industries” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Platinum Industries IPO Allotment Status?
For Platinum Industries IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Platinum Industries IPO GMP?
You can check out here: Platinum Industries IPO GMP