Platinum Industries IPO is a book built issue of Rs 235.32 crores. The issue is entirely a fresh issue of 1.38 crore shares.
Platinum Industries 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. Platinum Industries IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, March 5, 2024.
Platinum Industries IPO price band 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. The minimum lot size investment for sNII is 14 lots (1,218 shares), amounting to ₹208,278, and for bNII, it is 68 lots (5,916 shares), amounting to ₹1,011,636.
Unistone Capital Pvt Ltd is the book running lead manager of the Platinum Industries IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Platinum Industries IPO RHP for detailed information.
Platinum Industries IPO Details
| IPO Date | February 27, 2024 to February 29, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹162 to ₹171 per share |
| Lot Size | 87 Shares |
| Total Issue Size | 13,761,225 shares (aggregating up to ₹235.32 Cr) |
| Fresh Issue | 13,761,225 shares (aggregating up to ₹235.32 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 41,163,648 |
| Share holding post issue | 54,924,873 |
Platinum Industries IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Platinum Industries IPO Timeline (Tentative Schedule)
Platinum Industries IPO opens on February 27, 2024, and closes on February 29, 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 |
Platinum Industries IPO Lot Size
Investors can bid for a minimum of 87 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 87 | ₹14,877 |
| Retail (Max) | 13 | 1131 | ₹193,401 |
| S-HNI (Min) | 14 | 1,218 | ₹208,278 |
| S-HNI (Max) | 67 | 5,829 | ₹996,759 |
| B-HNI (Min) | 68 | 5,916 | ₹1,011,636 |
| Lot Size Calculator | |||
Platinum Industries IPO Promoter Holding
The promoters of the Company are Krishna Dushyant Rana and Parul Krishna Rana.
| Share Holding Pre Issue | 94.74% |
| Share Holding Post Issue |
About Platinum Industries Limited
Incorporated in August 2016, Platinum Industries Limited is a company that specializes in producing stabilizers. The company manufactures PVC stabilizers, CPVC additives and lubricants.
The company’s products are used in PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials, etc.
The manufacturing facility of the company is situated in Palghar, Maharashtra, and spreads across 21,000 sq. ft. of land.
The revenue from operations grew at a CAGR of 42.11% in six years, from ₹284.19M in 2018 to ₹2,340.56M in 2023.
As of July 2023, the company has twelve distribution centres spread across India.
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As of May 31st, 2023, the production unit has 71 employees and 17 workers.
Platinum Industries Limited Financial Information (Restated Consolidated)
Platinum Industries Limited’s revenue increased by 22.89% and profit after tax (PAT) rose by 111.76% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 137.72 | 121.17 | 84.48 | 32.26 |
| Revenue | 123.73 | 232.56 | 189.24 | 89.53 |
| Profit After Tax | 22.84 | 37.58 | 17.75 | 4.82 |
| Net Worth | 85.04 | 61.88 | 22.34 | 4.47 |
| Reserves and Surplus | 44.86 | 21.80 | 21.28 | 3.53 |
| Total Borrowing | 11.46 | 17.43 | 24.24 | 3.26 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
The market capitalization of Platinum Industries IPO is Rs 939.22 Cr.
| KPI | Values |
|---|---|
| ROE | 90.02% |
| ROCE | 56.85% |
| Debt/Equity | 0.28 |
| RoNW | 61.26% |
| P/BV | 11.13 |
Check Platinum Industries IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 9.13 | 8.31 |
| P/E (x) | 18.73 | 20.57 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (Platinum Industries IPO Objectives)
The Net Proceeds from the Issue are proposed to be utilized by the company for the following objects:
- Investment in the subsidiary, Platinum Stabilizers Egypt LLC (“PSEL”), for financing its capital expenditure requirements about the setting up of a manufacturing facility for PVC Stabilizers at SC Zone ‘Governorate of Suez Egypt’
- Funding of capital expenditure requirements of the company towards setting up of a manufacturing facility for PVC Stabilizers at Palghar, Maharashtra, India
- Funding working capital requirements of our Company; and
- General corporate purposes.
Platinum Industries Limited Contact Details
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 Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html