Platinum Industries IPO will open for subscription from 27 February 2024. The company aims for an issue size of ₹235.32 Cr through this IPO.
Company Overview
| Full name | Platinum Industries Limited |
| Sector | Chemicals |
| Industry | Chemicals |
| Company Website | https://platinumindustriesltd.com/ |
About Company
Platinum Industries operates as a diversified company, focusing on the manufacturing of stabilizers. Within its business segment, it specializes in PVC stabilizers, CPVC additives, and lubricants. The company is active in the specialty chemicals industry. The company’s products are utilized in various applications, including PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, rigid PVC foam boards, packaging materials, and more.
The revenue from operations witnessed significant growth, escalating from INR 28.42 crore in Fiscal 2018 to INR 234.06 crore in Fiscal 2023. This remarkable expansion reflects a CAGR of 42.11% over six years. As of July 2023, Platinum Industries boasts a distribution network spanning 12 locations across India. As of 31 May 2023, the production unit employs 71 staff members and 17 laborers.
The Objectives of the Issue
- Investment in the subsidiary, Platinum Stabilizers Egypt LLC (“PSEL”), for financing its capital expenditure requirements for 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 a manufacturing facility for PVC Stabilizers at Palghar, Maharashtra, India
- Funding working capital requirements of our Company; and
- General corporate purposes.
Platinum Industries IPO Timetable
| IPO Opening date | 27 February 2024 |
| IPO Closing | 29 February 2024 |
| Basis of Allotment | 01 March 2024 |
| Initiation Refund | 04 March 2024 |
| Credit to Demat Account | 04 March 2024 |
| Listing Date | 05 March 2024 |
Platinum Industries IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹235.32 Cr – 13,761,225 shares |
| Fresh Issue | ₹235.32 Cr – 13,761,225 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹162 to ₹171 per share |
| Lot size | 87 Shares |
| Shareholding pre-issue | 41,163,648 |
| Shareholding post-issue | 54,924,873 |
| Listing Exchange | BSE & NSE |
Platinum Industries IPO Lot Size
| 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 |
Platinum Industries IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 4,128,237 (30.00%) |
| QIB Shares Offered | 2,752,375 (20.00%) |
| NII (HNI) Shares Offered | 2,064,184 (15.00%) |
| bNII > ₹10L | 1,376,123 (10.00%) |
| sNII < ₹10L | 688,061 (5.00%) |
| Retail Shares Offered | 4,816,429 (35.00%) |
| Total Shares Offered | 13,761,225 (100%) |
Platinum Industries Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 89.27 | 188.16 | 231.48 | 122.82 |
| Expenses | 82.84 | 165.28 | 181.62 | 93.49 |
| Net income | 4.82 | 17.75 | 37.58 | 22.84 |
| Margin (%) | 5.40 | 9.43 | 16.23 | 18.60 |
Platinum Industries 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 |
Company Promoters
- Krishna Dushyant Rana
- Parul Krishna Rana.
Promoter Holding
| Pre Issue Share Holding | 94.74% |
| Post Issue Share Holding |
Platinum Industries IPO Lead Manager(s)
UNISTONE CAPITAL PRIVATE LIMITED
A/305, Dynasty Business Park, Andheri Kurla Road,
Andheri East, Mumbai 400059, Maharashtra
Phone:+91 98200 57533
Email: mb@unistonecapital.com
Website: www.unistonecapital.com
Platinum Industries Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Platinum Industries Contact Details
PLATINUM INDUSTRIES LIMITED
Unit No. 841, 4th Floor, Solitaire Corporate Park-8,
Andheri Kurla Road, Andheri(E), Mumbai – 400093
Phone: +917304538055
Email: cs@platinumindustriesltd.com
Website: www.platinumindustriesltd.com
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.
Final thoughts
Platinum Industries IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
