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Platinum Industries IPO

  • Status: Closed
  • RHP:
  • ₹ 14,094 / 87 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    05 Mar 2024

  • Listing Price

    ₹228.00

  • Listing Change

    33.33%

  • Last Traded Price

    ₹433.15

IPO Details

  • Open Date

    27 Feb 2024

  • Close Date

    29 Feb 2024

  • IPO Price Range

    ₹ 162 to ₹ 171

  • IPO Size

    ₹ 235.32 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    05 Mar 2024

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IPO Timeline

Platinum Industries IPO Subscription Status

Last Updated: 15 March 2024 10:31 AM by 5Paisa

Platinum Industries Limited IPO is set to open from 27th February to 29th February 2024. The company manufactures different types of manufacturing stabilizers. The IPO includes a fresh issue of 13,761,225 shares worth ₹235.32 cr. The share allotment date is 1st March 2024, and the IPO will be listed on 5th March 2024 on the stock exchanges. The price band is set at ₹162 to ₹171 and the lot size is 87 shares.   

Unistone Capital Private Limited is the book-running lead manager for this IPO, while Bigshare Services Private Limited is the registrar. 

Objectives of Platinum Industries IPO:

●    To fund the working expenditure needs of its subsidiary, Platinum Stabilizers Egypt LLC (PSEL) by the means of investment to set up a manufacturing facility for PVC Stabilizers at SC Zone 'Governorate of Suez Egypt.
●    For working capital expenditure needs in order to set up a manufacturing unit for PVC Stabilizers at Palghar, Maharashtra, India
●    To fund working capital requirements
●    General corporate purposes.

Platinum Industries IPO Video:

 

Established in 2016, Platinum Industries manufactures different types of manufacturing stabilizers such as PVC stabilizers and CPVC additives and also makes lubricants. It operates in the speciality chemicals industry and its products are used for PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials, etc.

In the domestic market, Platinum Industries ranks third largest in terms of sales of PVC stabilizers(chemical additives used to make polyvinyl chloride (PVC) based products) with a market share of around 13.00% as of FY23. The company also offers a wide range of customised products and solutions to its customers via distributors. It also trades commodity chemicals such as titanium dioxide and PVC/CPVC resin. 

Platinum Industries exports too. The company is ISO 9001:2015 certified and its manufacturing unit is located in Palghar, Maharashtra. 

Peer Comparison
●    Supreme Petrochem  Limited
●    Apcotex Industries Limited

For More Information:
Webstory on Platinum Industries IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 231.48 188.15 89.26
EBITDA 53.85 25.35 7.56
PAT 37.58 17.74 4.81
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 121.16 84.47 32.25
Share Capital 40.25 1.05 1.05
Total Borrowings 49.61 62.14 27.78
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 38.35 -14.89 3.27
Net cash from / (used in) investing activities -36.73 -4.95 -1.30
Net cash flow from / (used in) financing activities 0.47 19.00 -1.17
Net increase (decrease) in cash and cash equivalents 2.09 -0.84 0.79


Strengths

1.    The company has showcased consistent financial performance. 
2.    It has an in-house R&D facility.
3.    The company offers a varied product portfolio catering to diversified industries. 
4.    It enjoys high entry barriers to entry in the chemical industry. 
5.    The company provides quality products to its customers.
 

Risks

1.    The company is dependent on a few customers for a major part of its revenues. 
2.    It operates in a regulated and evolving industry. 
3.    The revenue is highly dependent on operations in the western zone.
4.    It has reported negative cash flows in the past. 
5.    A majority of the Directors do not have any prior experience of being a director in any other listed company in India.
6.    Pricing pressure from customers may affect the gross margin.  
 

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FAQs

Platinum Industries IPO opens from 27th February to 29th February 2024.
 

The size of Platinum Industries IPO is ₹235.32 cr. 

To apply for Platinum Industries IPO, follow the steps given below
●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Platinum Industries IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
You will receive a mandate notification to block funds in your UPI app.

The price band of Platinum Industries IPO is set at ₹162 to ₹171 per share.

The minimum lot size of Platinum Industries IPO is 87 shares and the minimum investment required to apply for IPO is ₹14,094.

The share allotment date of Platinum Industries IPO is 1st March 2024.

The Platinum Industries IPO will be listed on 5th March 2024.

Unistone Capital Private Limited is the book-running lead manager for Platinum Industries IPO.

Platinum Industries will use proceeds for:

●    To fund the working expenditure needs of its subsidiary, Platinum Stabilizers Egypt LLC (PSEL) by the means of investment to set up a manufacturing facility for PVC Stabilizers at SC Zone 'Governorate of Suez Egypt
●    For working capital expenditure needs in order to set up a manufacturing unit for PVC Stabilizers at Palghar, Maharashtra, India
●    To fund working capital requirements
●    General corporate purposes.