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Business News/ Markets / Ipo/  Platinum Industries IPO last bidding day today: Should you subscribe to the issue? Check GMP, subscription status
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Platinum Industries IPO last bidding day today: Should you subscribe to the issue? Check GMP, subscription status

Platinum Industries IPO price band has been fixed in the range of ₹162 to ₹171 per equity share. At the upper end of the price band, the company plans to raise ₹235.32 crore from the IPO that comprises an entirely fresh issue of 1.38 crore equity share.

 Platinum Industries IPO opened on February 27 and will end today, February 29.Premium
Platinum Industries IPO opened on February 27 and will end today, February 29.

Platinum Industries IPO: The initial public offering (IPO) of Platinum Industries, the PVC stabilizers manufacturer, is so far receiving strong response from investors. The bidding for the Platinum Industries IPO opened on February 27 and will end today, February 29.

Platinum Industries IPO price band has been fixed in the range of 162 to 171 per equity share. At the upper end of the price band, the company plans to raise 235.32 crore from the IPO that comprises an entirely fresh issue of 1.38 crore equity share.

Platinum Industries IPO lot size is 87 equity shares and the minimum investment amount required by retail investors is 14,877.

Ahead of the IPO opening, the company raised 70.59 crore from anchor investors on February 26.

Read here: Platinum Industries garners 70.59 crore from anchor investors ahead of IPO

The company has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), 15% for Non Institutional Investors (NII), and 35% of the offer is reserved for Retail Investors.

Platinum Industries IPO allotment is expected to be finalized on March 1 and the equity shares of Platinum Industries will list on BSE and NSE with a listing date fixed on March 5.

Unistone Capital Pvt Ltd is the book running lead manager of the Platinum Industries IPO, while Bigshare Services Pvt Ltd is the IPO registrar.

As the bidding for Platinum Industries IPO closes today, investors look at the company’s fundamentals, IPO subscription status and other key risks before investing in the issue.

Also Read: Platinum Industries IPO: Check latest GMP, subscription status, review, key dates, more. Apply or not?

Platinum Industries IPO: Should you invest?

Platinum Industries’ varied portfolio among the specialty chemicals segment, new product development systems with the help of an effective research and development team, high entry barriers in the operating segment, and the company’s plans for global expansion will help it to take advantage of the opportunities in the coming period, said BP Equities.

On the financial performance front, the company’s Revenue, EBITDA and net profit grew at a CAGR of 61%, 166.8% and 166.5% during the FY 2021- 23 period.

“On the upper price band, the issue is valued at a P/E of 18.2x based on FY2023 earnings which we feel is fairly valued. We, therefore, recommend a “Subscribe" rating for the issue," BP Equities said.

Platinum Industries IPO details.
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Platinum Industries IPO details.

Platinum Industries IPO GMP Today

Platinum Industries is commanding a strong premium in the grey market today. The Platinum Industries IPO GMP today, or grey market premium today, is 95 per share, according to stock market observers. This indicates that Platinum Industries shares are trading at a premium of 55.56% at 266 per share in the grey market, as against its issue price of 171 apiece.

Also Read: Platinum Industries IPO Day 2: Issue subscribed 22.22 times, NIIs, retail portion sees strong demand; check GMP

Platinum Industries IPO Subscription Status

Platinum Industries IPO has been subscribed 22.19 times in total so far. The public issue received bids for 21.37 crore equity shares as compared to 96.32 lakh shares on the offer, as on Friday 28, the second day of the bidding process.

The IPO has been subscribed 25.50 times in the retail category, 0.90 times in QIB, and 42.85 times in the NII category so far.

Read all IPO news here

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 29 Feb 2024, 08:44 AM IST
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