Platinum Industries IPO to debut on bourses tomorrow; Here’s what GMP hints ahead of Platinum IPO listing date
- Platinum Industries IPO listing date is March 5. Share allotment finalised on March 1. Today, shares credited to demat accounts for allocated shareholders. Refund process also takes place today for non-allocated shares.
Platinum Industries IPO listing date has been fixed for Tuesday, March 5. Platinum Industries IPO share allotment was finalised on Friday, March 1. Today (Monday, March 4), will see the crediting of shares to demat accounts for those who have been allocated shares. For those who have not received their shares, the refund process will also take place today.
Investors responded enthusiastically to Platinum Industries IPO on all the three days. Platinum Industries IPO subscription status was 99.03 times on Day 3, as per BSE data.
Platinum Industries IPO opened for bidding on Tuesday, February 27, and closed on Thursday, February 29. Platinum IPO raised ₹70.59 crore from anchor investors on Monday, February 26.
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Let's check what does Platinum Industries IPO GMP today signal ahead of listing.
Platinum IPO GMP today or Platinum grey market premium is +85. This indicates Platinum Industries share price were trading at a premium of ₹85 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the Platinum Industries IPO expected listing price was indicated at ₹85 apiece, which is 49.71% higher than the IPO price of ₹171.
Based on last 35 sessions grey market activities, today IPO GMP trending upward and expects a strong listing. The lowest GMP is ₹0, while the highest GMP is ₹100, according to investorgain.com analysts.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Platinum Industries IPO details
Platinum Industries IPO, which is worth ₹235.32 crore, completely comprises a fresh issue, and there is no offer-for-sale component.
The company intends to use the net proceeds from the offering for the following purposes: investing in Platinum Stabilisers Egypt LLC, its subsidiary; financing working capital needs; funding capital expenditures required for the establishment of a PVC stabiliser manufacturing facility in Palghar, Maharashtra, India; and general corporate purposes.
The company's promoters are managing director Krishna Dushyant Rana and executive director Parul Krishna Rana.
Bigshare Services Pvt Ltd is the registrar for the Platinum Industries IPO, while Unistone Capital Pvt Ltd is the book running lead manager.
Platinum Industries IPO price band was fixed in the range of ₹162 to ₹171 per equity share of face value of ₹10. Platinum Industries IPO lot size was 87 equity shares and in multiples of 87 equity shares thereafter.
Platinum IPO reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
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