Platinum Industries IPO GMP, Details, Date, Price, 2024

Platinum Industries is coming up with its IPO. The IPO will be open for subscription on February 27, 2024. Check gmp,financial and more.

 

Platinum Industries IPO Details

 

IPO DATE 27 – 29 Feb 2024
Platinum Industries Price INR 162 – 171 per share
Fresh issue 13,761,225 shares (INR 222.93 – 235.31 crore)
Offer For Sale NIL
Total IPO size 13,761,225 shares (INR 222.93 – 235.31 crore)
Minimum bid (lot size) 87 shares (INR 14,877)
Face Value  INR 10 per share
Retail Allocation 35%
QIB Shares Offered 50%
NII (HNI) Shares Offered 15%
Listing On BSE, NSE

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Platinum Industries IPO – Date Schedule

 

IPO Opening Date 27 February 2024
IPO Closing Date 29 February 2024
Finalization of Basis of Allotment 1 March 2024
Refunds Initiation 4 March 2024
Transfer of shares to demat accounts 4 March 2024
Listing Date of IPO 5 March 2024

 

Platinum Industries IPO – About Company 

 

Platinum Industries is a diversified company primarily engaged in the manufacturing of stabilizers. Within this sector, it specializes in PVC stabilizers, CPVC additives, and lubricants, positioning itself prominently within the specialty chemicals industry. Its products find application across a wide spectrum, including PVC pipes, profiles, fittings, electrical wires and cables, SPC floor tiles, rigid PVC foam boards, packaging materials, and more.

The company has experienced substantial revenue growth, with operational revenue surging from INR 28.42 crore in Fiscal 2018 to INR 234.06 crore in Fiscal 2023, marking an impressive compound annual growth rate (CAGR) of 42.11% over the span of six years.

As of July 2023, Platinum Industries boasts a robust distribution network, with a presence across 12 locations throughout India. Additionally, its production unit, as of May 31, 2023, comprises 71 staff members and 17 laborers, indicative of its operational scale and workforce strength.

 

Platinum Industries IPO GMP, Details, Date, Price, 2024
Platinum Industries IPO GMP, Details, Date, Price, 2024

Platinum Industries IPO – Industry Overview 

 

The Indian chemical industry is a key constituent of the country’s economy, accounting for 2.28% of the GVA (including pharmaceuticals) for all economic activities in fiscal 2020 compared with 2.23% in fiscal 2015. In 2020, it ranked sixth in the world in terms of revenue (excluding pharmaceuticals) and accounted for 2.7% of the global chemical industry compared with 2.5% in fiscal 2010. The Indian chemical industry is expected to double at 9.3% CAGR over fiscals 2019-25.  

The global PVC stabilizer market is to grow at 3.7% CAGR from 1.52 million tons in 2023 to 1.76 million tons by 2027. 

India PVC stabilizer market is at 96 thousand tons in FY23 which is expected to grow at 7% CAGR to reach 126 thousand tons by fiscal 2027. India market size by value is reported at $224.7 million in fiscal 2023 

 

Platinum Industries IPO Financial Performance

 

FY 2022 FY 2023 H1 FY 2024
Revenue 188.16 231.48 122.82
Expenses 165.28 181.62 93.49
Net income 17.75 37.58 22.84
Margin (%) 9.43 16.23 18.60

Figures in INR Crores

 

Platinum Industries IPO – Valuations & Margins

 

FY 2021 FY 2022 FY 2023
EPS 1.24 4.41 9.42
PE ratio 17.20 – 18.15
RONW (%) 107.66 79.45 61.26
NAV 42.48 212.20 15.37
ROCE (%) 74.28 52.51 56.85
EBITDA (%) 8.47 13.47 23.27
Debt/Equity 0.73 1.09 0.28

 

Platinum Industries IPOCompetitive Strengths

  • Consistent financial performance;
  • R & D and Sustainability;
  • Varied product portfolio catering to diversified industries;
  • High entry barriers in the speciality chemical industry;
  • Quality Products.

 

Platinum Industries IPOObject Of The Issue

 

  • Investment in Subsidiary, Platinum Stabilizers Egypt LLC (“PSEL”) for financing its capital expenditure requirements in relation to the setting up of a manufacturing facility for PVC Stabilizers at SC Zone, Governorate of Suez, Egypt. (“Proposed Facility 1 (Egypt)”);
  • Funding of capital expenditure requirements of our Company towards setting up of a manufacturing facility for PVC Stabilizers at Palghar, Maharashtra, India (“Proposed Facility 2 (Palghar)”); 
  • Funding working capital requirements of our Company; and
  • General corporate purposes.

 

Platinum Industries IPO GMP Today

 

Date Day-wise IPO GMP Kostak Subject to Sauda
27 February 2024 93 2,000
23 February 2024 30

 

Platinum Industries IPO – Allotment Status

Platinum Industries IPO allotment status will be available on Bigshare Services website. Click on this link to get allotment status.

 

Platinum Industries IPO – Lots Size & Price

 

Application Lots Shares Amount ( Cut-Off)
Retail (Min) 1 87 14,877
Retail (Max) 13 1,131 1,93,401
S-HNI (Min) 14 1,218 2,08,278
S-HNI (Max) 67 5,829 9,96,759
B-HNI (Min) 68 5,916 10,11,636

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