Platinum Industries Limited IPO: An Overview and Corporate Insight
Incorporated in August 2016, Platinum Industries Limited is a company that specializes in producing stabilizers. The company produces lubricants, CPVC additives, and PVC stabilisers. Situated in Palghar, Maharashtra, the company’s manufacturing facility has 21,000 square ft. of land.
The company operates twelve distribution locations throughout India as of July 2023.Stabilisers are the primary product of Platinum Industries Ltd. (PIL), a multi-product firm. Lubricants, CPVC additives, and PVC stabilisers are all part of its business category. It therefore deals with specialty chemicals, and the items it produces are used in PVC fittings, pipes, profiles, electrical wires and cables, SPC floor tiles, rigid PVC foam boards, packaging materials and so on.
Grey Market Premium Analysis and IPO Timelines – Platinum Industries Limited IPO
| Date | GMP |
| February 24 | ₹90 |
| February 23 | ₹90 |
| February 22 | ₹32 |
Pricing Details and Lot Size – Platinum Industries Limited IPO
The price band for Platinum Industries IPO is ₹162 to ₹171 per share.
Book-Running Lead Managers and Registrar – Platinum Industries Limited IPO
Unistone Capital Pvt Ltd is the book-running lead manager, while BigShares Services Private Limited is the registrar.
Offer for Sale and IPO Size Breakdown – Platinum Industries Limited IPO
The book-built issue of Rs 235.32 crores is Platinum Industries’ first public offering. 1.38 crore shares are being offered in a completely new issuance.
IPO Timelines at a Glance – Platinum Industries Limited IPO
| Event | Date |
| IPO Opening Date | February 27,2024 |
| IPO Closing Date | February 29, 2024 |
| IPO Allotment Date | March 01, 2024 |
| Initiation of Refunds | March 04, 2024 |
| Credit of Shares to Demat | March 04, 2024 |
| IPO Listing Date | March 05, 2024 |
Utilisation of Fresh Issuance and Technological Advancements – Platinum Industries Limited IPO
The company proposes to use the Net Proceeds from the Issue for the following purposes:
- Investment in the subsidiary Platinum Stabilisers Egypt LLC (“PSEL”) to finance the company’s capital expenditure requirements for establishing a PVC stabiliser manufacturing facility at SC Zone “Governorate of Suez Egypt”
- Finance the company’s capital expenditure requirements for establishing a PVC stabiliser manufacturing facility in Palghar, Maharashtra, India.
- Financing the company’s working capital needs as well as general corporate objectives.
Conclusion
With a 13.00% market share for the fiscal year 2022–2023 in the domestic market, PIL is the third-largest player in the PVC stabilisers segment in terms of sales, according to the CRISIL Report. In comparison to its industry rivals, the company achieved the greatest revenue compound annual growth rate (CAGR) of 48.8% in fiscal 2023. Their business strategy is to continuously add new items to their lineup in order to meet the needs of various end-user applications. Their well-established brand image aids in their penetration of new product categories, and they have a strong track record in the distribution network and a tight focus on product quality.
Frequently Asked Questions (FAQ) – Platinum Industries Limited IPO
What does Platinum Industries Limited specialise in?
Stabilisers are the primary product of Platinum Industries Ltd. (PIL), a multi-product firm. Lubricants, CPVC additives, and PVC stabilisers are all part of its business category. It therefore deals with specialty chemicals, and the items it produces are used in PVC fittings, pipes, profiles, electrical wires and cables, SPC floor tiles, rigid PVC foam boards, packaging materials and so on.
What is the primary purpose of Platinum Industries Limited’s IPO?
The IPO’s primary purpose is investment in the subsidiary Platinum Stabilisers Egypt LLC (“PSEL”) to finance the company’s capital expenditure requirements for establishing a PVC stabiliser manufacturing facility at SC Zone “Governorate of Suez Egypt”, financing the company’s capital expenditure requirements for establishing a PVC stabiliser manufacturing facility in Palghar, Maharashtra, India, and financing the company’s working capital needs as well as general corporate objectives.
Who are the lead managers for Platinum Industries Limited’s IPO?
Unistone Capital Pvt Ltd is the book-running lead manager for the offer.
How is the IPO structured in terms of new issuance and offer for sale (OFS)?
The book-built issue of Rs 235.32 crores is Platinum Industries’ first public offering. Hence, 1.38 crore shares are being offered in a completely new issuance.
What is the lot size and minimum investment for retail investors in the Platinum Industries Limited IPO?
Platinum Industries IPO lot size is 87 Shares, and the minimum amount required is ₹14,877
What is the price band for the Platinum Industries Limited IPO?
The price band for Platinum Industries Limited IPO is ₹162 to ₹171 per share.
How has the Grey Market Premium (GMP) trend for Platinum Industries Limited IPO?
The GMP was valued at Rs 90 on February 24, 2024.
When does the IPO open and close for subscription?
Platinum Industries Limited IPO will open for subscription on February 27, 2024 and close on February 29, 2024.
When is the allotment date for the Platinum Industries LimitedLimited IPO?
The allotment date is set for March 01, 2024.
When is Platinum Industries Limited expected to be listed on the stock exchanges?
The anticipated listing date for Platinum Industries Limited IPO is March 05, 2024 on the BSE and NSE mainboards
