The price band of Platinum Industries IPO is Rs 162-171.35 percent of the IPO is reserved for retail investors. Platinum Industries IPO is getting tremendous support in the grey market.
Platinum Industries IPO : The IPO of Platinum Industries, a stabilizer manufacturing company, will open on February 27. Investors will be able to bid for the shares of this issue till February 29. The price band of this issue is Rs 162-171 per share. The company has kept the price band of Rs 162-171 per share for the issue. The company intends to raise Rs 235.32 crore through this IPO. The IPO is getting a good response in the gray market and the gray market price (Platinum Industries IPO GMP) is increasing.
35% of the Platinum Industries IPO is reserved for retail investors, 15% for qualified institutional buyers and 15% for NII. Only fresh equity shares will be issued under the issue and there will be no sale through Offer for Sale (OFS). Unistone Capital is the book-running lead manager for the IPO and Bigshare Services is the registrar.
Currently promoter holding is 94.74%
Promoters hold 94.74 per cent stake in Platinum Industries. Public shareholders, including Dr. Horst Michael Schiller, hold 5.26 per cent shares. Platinum Industries has allotted a pre-IPO placement of 9,10,700 equity shares at an issue price of Rs 157 per share through private placement.
Platinum Industries IPO GMP
Platinum Industries IPO is getting tremendous support in the grey market. Before subscription today i.e. on 25 February, the unlisted shares of the IPO are trading at a premium of Rs 90 in the grey market. According to this, the company’s shares are likely to be listed at a price of Rs 261. If this happens, investors will have a listing gain of 52.63 percent. However, it is not necessary that the listing of IPO shares in the stock market happens at a premium only. Many times it also happens that the shares which were trading at a premium in the grey market have also been listed at a discount.
Company Profile
Platinum Industries’ business is in the specialty chemicals industry. It manufactures PVC stabilizers, CPVC additives and lubricants, PVC fittings, electrical wires and cables, SPC floor tiles and packaging materials. Currently, there is no company listed in the domestic market that manufactures PVC stabilizers and CPVC additives. In FY 2023, the company’s total income grew 23 per cent year-on-year (YoY) to Rs 232 crore. Net profit grew 112 per cent to Rs 37.5 crore during the same period.
Tags: Money Making Tips, Stock market, IPO
FIRST PUBLISHED : February 25, 2024, 15:23 IST