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Business News/ Markets / Ipo/  Platinum Industries IPO to debut on bourses tomorrow; Here’s what GMP hints ahead of Platinum IPO listing date
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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. (https://platinumindustriesltd.com/)Premium
Platinum Industries IPO listing date has been fixed for Tuesday, March 5. (https://platinumindustriesltd.com/)

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.

Also Read: Platinum Industries IPO allotment finalised. Latest GMP, steps to check allotment status online

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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Also Read: Platinum Industries IPO allotment status out. GMP jumps as focus shifts on share listing date

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.

Also Read: Platinum Industries IPO oversubscribed on day 3 led by NII, retail investors; check GMP, subscription status, key dates.

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.

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

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.

Also Read: Platinum Industries IPO fully booked in less than an hour of opening; retail, NII portion gets full subscription

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

 

 

 

 

 

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Published: 04 Mar 2024, 02:18 PM IST
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