What you must know about Platinum Industries IPO?
by 5paisa Research Team
22 Feb 2024
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 05-Mar-24
- IPO Price Range ₹162
- Listing Price ₹228
- Listing Change 33.3 %
- Last Traded Price ₹211.85
- Current Change 23.9 %
Platinum Industries IPO Details
- Open Date 27-Feb-24
- Close Date 29-Feb-24
- Lot Size 87
- IPO Size ₹ 235.32 Cr
- IPO Price Range ₹ 162 to ₹ 171
- Min Investment ₹ 14,094
- Listing Exchange BSE, NSE
- Basis of Allotment 01-Mar-24
- Refunds 04-Mar-24
- Credit to Demat Account 04-Mar-24
- Listing Date 05-Mar-24
Platinum Industries IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 27-Feb-24 | 0.07 | 13.67 | 10.43 | 8.16 |
| 28-Feb-24 | 0.90 | 42.95 | 25.72 | 22.32 |
| 29-Feb-24 | 151.00 | 141.79 | 50.92 | 98.99 |
Platinum Industries IPO Synopsis
Platinum Industries Limited IPO is set to open from 27th February to 29th February 2024. The company manufactures different types of manufacturing stabilizers. The IPO includes a fresh issue of 13,761,225 shares worth ₹235.32 cr. The share allotment date is 1st March 2024, and the IPO will be listed on 5th March 2024 on the stock exchanges. The price band is set at ₹162 to ₹171 and the lot size is 87 shares.
Unistone Capital Private Limited is the book-running lead manager for this IPO, while Bigshare Services Private Limited is the registrar.
Objectives of Platinum Industries IPO:
● To fund the working expenditure needs of its subsidiary, Platinum Stabilizers Egypt LLC (PSEL) by the means of investment to set up a manufacturing facility for PVC Stabilizers at SC Zone 'Governorate of Suez Egypt.
● For working capital expenditure needs in order to set up a manufacturing unit for PVC Stabilizers at Palghar, Maharashtra, India
● To fund working capital requirements
● General corporate purposes.
Platinum Industries IPO Video:
About Platinum Industries
Established in 2016, Platinum Industries manufactures different types of manufacturing stabilizers such as PVC stabilizers and CPVC additives and also makes lubricants. It operates in the speciality chemicals industry and its products are used for PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials, etc.
In the domestic market, Platinum Industries ranks third largest in terms of sales of PVC stabilizers(chemical additives used to make polyvinyl chloride (PVC) based products) with a market share of around 13.00% as of FY23. The company also offers a wide range of customised products and solutions to its customers via distributors. It also trades commodity chemicals such as titanium dioxide and PVC/CPVC resin.
Platinum Industries exports too. The company is ISO 9001:2015 certified and its manufacturing unit is located in Palghar, Maharashtra.
Peer Comparison
● Supreme Petrochem Limited
● Apcotex Industries Limited
For More Information:
Webstory on Platinum Industries IPO
Platinum Industries Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 231.48 | 188.15 | 89.26 |
| EBITDA | 53.85 | 25.35 | 7.56 |
| PAT | 37.58 | 17.74 | 4.81 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 121.16 | 84.47 | 32.25 |
| Share Capital | 40.25 | 1.05 | 1.05 |
| Total Borrowings | 49.61 | 62.14 | 27.78 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 38.35 | -14.89 | 3.27 |
| Net cash from / (used in) investing activities | -36.73 | -4.95 | -1.30 |
| Net cash flow from / (used in) financing activities | 0.47 | 19.00 | -1.17 |
| Net increase (decrease) in cash and cash equivalents | 2.09 | -0.84 | 0.79 |
Platinum Industries IPO Key Points
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Strengths
1. The company has showcased consistent financial performance.
2. It has an in-house R&D facility.
3. The company offers a varied product portfolio catering to diversified industries.
4. It enjoys high entry barriers to entry in the chemical industry.
5. The company provides quality products to its customers.
-
Risks
1. The company is dependent on a few customers for a major part of its revenues.
2. It operates in a regulated and evolving industry.
3. The revenue is highly dependent on operations in the western zone.
4. It has reported negative cash flows in the past.
5. A majority of the Directors do not have any prior experience of being a director in any other listed company in India.
6. Pricing pressure from customers may affect the gross margin.
Platinum Industries
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Platinum Industries IPO FAQs
When does the Platinum Industries IPO opens and closes?
Platinum Industries IPO opens from 27th February to 29th February 2024.
What is the size of the Platinum Industries IPO?
The size of Platinum Industries IPO is ₹235.32 cr.
How to apply for the Platinum Industries IPO?
To apply for Platinum Industries IPO, follow the steps given below
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Platinum Industries IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the price band of Platinum Industries IPO?
The price band of Platinum Industries IPO is set at ₹162 to ₹171 per share.
What is the minimum lot size and investment required for the Platinum Industries IPO?
The minimum lot size of Platinum Industries IPO is 87 shares and the minimum investment required to apply for IPO is ₹14,094.
What is the allotment date of the Platinum Industries IPO?
The share allotment date of Platinum Industries IPO is 1st March 2024.
What is the Platinum Industries IPO listing date?
The Platinum Industries IPO will be listed on 5th March 2024.
Who are the book runners for the Platinum Industries IPO?
Unistone Capital Private Limited is the book-running lead manager for Platinum Industries IPO.
What is the objective of the Platinum Industries IPO?
Platinum Industries will use proceeds for:
● To fund the working expenditure needs of its subsidiary, Platinum Stabilizers Egypt LLC (PSEL) by the means of investment to set up a manufacturing facility for PVC Stabilizers at SC Zone 'Governorate of Suez Egypt
● For working capital expenditure needs in order to set up a manufacturing unit for PVC Stabilizers at Palghar, Maharashtra, India
● To fund working capital requirements
● General corporate purposes.
Contact Details of Platinum Industries IPO
Contact Information
Platinum Industries Limited
Unit No. 841, 4th Floor, Solitaire Corporate
Park-8, Andheri Kurla Road
Andheri (E), Mumbai –400093
Phone: +91 7304538055
Email: cs@platinumindustriesltd.com
Website: https://platinumindustriesltd.com/
Platinum Industries IPO Register
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Platinum Industries IPO Lead Manager
Unistone Capital Pvt Ltd
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