Platinum Industries IPO GMP Price, Subscription Status, Allotment Status and More Details

News: Platinum Industries, a renowned name in the market, has announced its Initial Public Offering (IPO). Here’s a simple guide to help you understand the key details about the Platinum Industries IPO.

Platinum Industries IPO: Key Details

The Platinum Industries IPO is a book-built issue of Rs 235.32 crores. The IPO comprises a fresh issue of 1.38 crore shares. The IPO opens for subscription on February 27, 2024, and closes on February 29, 2024. The allotment for the Platinum Industries IPO is expected to be finalized on Friday, March 1, 2024.

Price Band and Lot Size

The price band for the Platinum Industries IPO is set at ₹162 to ₹171 per share. The minimum lot size for an application is 87 Shares. The minimum amount of investment required by retail investors is ₹14,877.

Grey Market Premium (GMP)

The Grey Market Premium (GMP) for the Platinum Industries IPO indicates a premium of ₹100, with an estimated listing price at ₹271 apiece.

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About Platinum Industries :

Established in August 2016, Platinum Industries specializes in producing stabilizers. The company is a leading manufacturer of PVC stabilizers, CPVC additives, and lubricants. These chemical additives enhance the performance and durability of PVC-based products like pipes, fittings, electrical wires, cables, and more.

Platinum Industries is India’s third-largest PVC stabilizer manufacturer in terms of sales, with a 13% market share in FY23. The company’s primary revenue sources include PVC stabilizers (51% of FY23 revenue), CPVC additives (8%), lubricants (27%), and trading sales (14%).

FAQs

1. What is the issue size of the Platinum Industries IPO?

The issue size of the Platinum Industries IPO is Rs 235.32 crores.

2. What is the price band for the Platinum Industries IPO?

The price band for the Platinum Industries IPO is set at ₹162 to ₹171 per share.

3. What is the Grey Market Premium (GMP) for the Platinum Industries IPO?

The Grey Market Premium (GMP) for the Platinum Industries IPO indicates a premium of ₹100.

4. When will the allotment for the Platinum Industries IPO be finalized?

The allotment for the Platinum Industries IPO is expected to be finalized on Friday, March 1, 2024.

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