Platinum Industries IPO Price: ₹162 to ₹171
IPO Date Range: Feb 27, 2024 - Feb 29, 2024
Platinum Industries, established in August 2016, operates as a multi-product company specializing in the production of stabilizers. The company's core business segments encompass PVC stabilizers, CPVC additives, and lubricants.
The company’s core products PVC stabilizers, CPVC additives, and lubricants play a vital role in various applications, including PVC pipes, profiles, fittings, electrical wires, cables, SPC floor tiles, Rigid PVC foam boards, and packaging materials.
Platinum Industries adopts a forward-looking business model, emphasizing consistent expansion of its product portfolio. The company is dedicated to introducing new products tailored to diverse end-use applications. Beyond manufacturing stabilizers, they engage in trading activities involving associated commodity chemicals like titanium dioxide and PVC/CPVC resin.
Operating in the dynamic specialty chemicals industry, Platinum Industries contributes to an Indian market that accounted for approximately 26% of the overall chemicals industry, excluding pharmaceuticals. The company's strategic focus on quality and innovation has allowed them to navigate industry fluctuations successfully. Platinum Industries has further strengthened its position through an expansive distribution network, encompassing twelve distribution centers across India.
| IPO Date | February 27, 2024 to February 29, 2024 |
| Listing Date | Tuesday, March 5, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹162 to ₹171 per share |
| Lot Size | 87 shares |
| Total Issue Size | 13,761,225 shares (aggregating up to ₹235.32 Cr) |
| Fresh Issue | 13,761,225 shares (aggregating up to ₹235.32 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 41,163,648 |
| Share holding post issue | 54,924,873 |
Bidders have the opportunity to bid for a minimum of 87 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 87 | ₹14,887 |
| Retail (Max) | 13 | 1131 | ₹193,401 |
| S-HNI (Min) | 14 | 1218 | ₹208,278 |
| S-HNI (Max) | 67 | 5829 | ₹996,759 |
| B-HNI (Min) | 68 | 5916 | ₹1,011,636 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| IPO Open Date | Tuesday, February 27, 2024 |
| IPO Close Date | Thursday, February 29, 2024 |
| Basis of Allotment | Friday, March 1, 2024 |
| Initiation of Refunds | Monday, March 4, 2024 |
| Credit of Shares to Demat | Monday, March 4, 2024 |
| Listing Date | Tuesday, March 5, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 29, 2024 |
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Platinum Industries Limited experienced a notable surge in revenue, marking a remarkable 22.89% increase. Furthermore, the profit after tax (PAT) witnessed an impressive upswing of 111.76% during the financial year concluding on March 31, 2023, as compared to the corresponding period ending on March 31, 2022.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Sep 2023 |
|---|---|---|---|---|
| Assets | 32.26 | 84.48 | 121.17 | 137.72 |
| Revenue | 89.53 | 189.24 | 232.56 | 123.73 |
| Profit After Tax | 4.82 | 17.75 | 37.58 | 22.84 |
| Net Worth | 4.47 | 22.34 | 61.88 | 85.04 |
| Reserves & Surplus | 3.53 | 21.28 | 21.80 | 44.86 |
| Total Borrowing | 3.26 | 24.24 | 17.43 | 11.46 |
| KPI | Values |
|---|---|
| Market Cap (Rs Cr) | 939.22 |
| P/E (x) | 18.73 |
| ROE | 90.02% |
| ROCE | 56.85% |
| Debt/ Equity | 0.28 |
| EPS | 9.13 |
| RoNW | 61.26% |
The company intends to use the net proceeds from the issue for the following purposes:
Prospectus: Official documents that provide detailed information about the IPO and the company. Platinum Industries DRHP and Platinum Industries RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Platinum Industries Limited" IPO is ₹162 to ₹171 per share.
The "Platinum Industries Limited" IPO is expected to be listed on Tuesday, 5 March 2024.
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