03-Feb-2024
2 mins read
Platinum Industries Limited is coming up with its Initial Public Offering. This IPO is open for subscription from Tuesday, February 27, 2024 and will close on Thursday, February 29, 2024. The price band is decided at Rs 162 to Rs 171 per share. The minimum lot size of this application for the retail category is 87 shares. The minimum lot size for small non-institutional investors is 14 lots consisting of 1,218 shares. Meanwhile, the minimum lot for big non-institutional investors is 68 lots with 5,916 shares. The minimum amount of investment required for retail category investors is Rs 14,877 (171 x 87 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,08,278 ( 171 x 1,218 shares); for big non-institutional investors, it is Rs 10,11,636 (171 x 5,916 shares). Platinum Industries Limited IPO is a book-built issue of Rs 235.32 crores. This IPO issue is completely a fresh issue of Rs 1.38 crore equity shares. The allotment for this IPO is expected to be finalized on Friday, March 1, 2024. Platinum Industries Limited IPO will be listed on both BSE and NSE, and the listing date is fixed on Tuesday, March 5, 2024. The book running lead manager of Platinum Industries Limited is Unistone Capital Private Limited. The registrar for this IPO is Bigshare Services Private Limited.
About Platinum Industries Limited
Platinum Industries Limited incorporated in August 2016, it is engaged in the business of manufacturing PVC stabilizers, CPVC additives and lubricants. Products produced by the company are used in PVC pipes, PVC profiles, PVC settings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials etc. The indian’s speciality chemicals industry, accounting for 26% of the overall chemical industry, was worth $29 billion in fiscal 2020. Company provides customized services and solutions directly to their customers and also through their network of distributors. The manufacturing facility of the company is situated in Palghar, Maharashtra and spread across 21,000 sq. feet of land. As of May 31st 2023, the production unit has 71 employees and 17 workers.
Objectives of the Platinum Industries IPO
The funds raised from the IPO will be utilized in Investment in the subsidiary, Platinum Stabilizers Egypt LLC and for financing its capital expenditure requirements for setting up a manufacturing facility for PVC stabilizers at special economic zones. Moreover, the net proceeds from the issue will also help to fund the working capital requirements and general corporate purposes will also be fulfilled.
Financial Details of Platinum Industries Limited (Amt in Crores)
Company’s revenue increased by 16.25% and profit after tax increased by 1849.43% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 121.17 | 84.48 | 32.26 |
| Revenue | 232.56 | 189.24 | 89.53 |
| Profit After Tax | 37.58 | 17.75 | 4.82 |
| Net Worth | 61.88 | 22.34 | 4.47 |
| Reserves and Surplus | 21.8 | 21.28 | 3.53 |
| Total Borrowing | 17.43 | 24.24 | 3.26 |
Other Important Details of Platinum Industries Limited IPO
| IPO Date | February 27, 2024 to February 29, 2024 |
| Listing Date | 5-Mar-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 162 to Rs 171 per share |
| Lot Size | 87 Shares |
| Total Issue Size | 13,761,225 shares |
| amounting to Rs 235.32 crores | |
| Fresh Issue | 13,761,225 shares |
| amounting to Rs 235.32 crores | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 41,163,648 |
| Shareholding post issue | 54,924,873 |
IPO Reservation of Platinum Industries Limited
| Category Of Investors | Equity Shares Offered |
| Equity shares offered to Qualified Institutional Investors | Not more than 50 percent of the Net Issue |
| Equity shares offered to the Retail Investors | Not less than 35 percent of the Net Issue |
| Equity shares offered to Non-Institutional Investors | Not less than 15 percent of the Net Issue |
Promoters of Platinum Industries Limited and Their Holdings
The Promoters of the company are Krishna Dushyant Rana and Parul Krishna Rana.
| Shareholding Pre Issue | 96.88% |
| Shareholding Post Issue |
Time-Table of Platinum Industries Limited IPO 2024
| 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 |
Key Performance Indicator of Platinum Industries Limited IPO 2024
The market capitalization of Platinum Industries Limited is yet to be announced.
| KPI | Values |
| ROE | 90.02% |
| ROCE | 56.85% |
| Debt/Equity | 0.28 |
| RoNW | 61.26% |
Lead Manager(s) of Platinum Industries Limited IPO 2024
The lead manager for Platinum Industries Limited IPO is Unistone Capital Private Limited.
How to Apply for Platinum Industries Limited IPO 2024
Wait for the public issue to open for subscription, then click here to apply for the Platinum Industries Limited IPO with Bigul.
How to Check Allotment Status of Platinum Industries Limited IPO 2024
The registrar for Platinum Industries Limited IPO is Bigshare Services Private Limited. To check your allotment status, please visit here.
FAQs
- What is Platinum Industries Limited IPO 2024?
Platinum Industries Limited IPO is a book-built issue of Rs 235.32 crores. This IPO issue is completely a fresh issue of Rs 1.38 crore equity shares. The allotment for this IPO is expected to be finalized on Friday, March 1, 2024.
- Who are the lead managers for the Platinum Industries Limited IPO 2024?
Unistone Capital Private Limited are appointed as the lead managers for the IPO.
- What is the role of Bigshare Services Private Limited in this IPO?
Bigshare Services Private Limited is the registrar for Platinum Industries Limited handling the IPO’s administrative aspects.
- How can I apply for the Platinum Industries Limited IPO 2024?
The public subscription of this IPO will open from February 27, 2024. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The funds raised from the IPO will be utilized in Investment in the subsidiary, Platinum Stabilizers Egypt LLC and for financing its capital expenditure requirements for setting up a manufacturing facility for PVC stabilizers at special economic zones. Moreover, the net proceeds from the issue will also help to fund the working capital requirements.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Platinum Industries Limited IPO 2024 by clicking here.
- What is the financial performance of Platinum Industries Limited?
Company’s revenue increased by 16.25% and profit after tax increased by 1849.43% between the financial year ending with March 31, 2023 and March 31, 2022.