A profit of Rs 90 per share could be made, this IPO created a stir in the gray market.

Platinum Industries IPO: The IPO of stabilizer maker Platinum Industries will open on February 27. Investors will be able to bid for shares in the issue till February 29. The price band for this issue is Rs 162-171 per share. The company has fixed a price band of Rs 162-171 per share for the issue. The company plans to raise Rs 235.32 crore through this IPO. The IPO is getting a good response in the gray market and the gray market price (Platinum Industries IPO GMP) is increasing.

35 percent of Platinum Industries’ IPO is reserved for retail investors, 15 percent for eligible institutional buyers and 15 percent for NII. Only fresh equity shares will be issued under the issue, there will be no sale by way of Offer for Sale (OFS). Unistone Capital is the lead book-running manager for the IPO and BigShare Services is the registrar.

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Presently the promoter holding is 94.74%.
The promoters hold 94.74% stake in Platinum Industries. Public shareholders including Dr. Horst Michael Schiller hold 5.26 percent of the shares. Platinum Industries has made a pre-IPO placement allotment of 9,10,700 equity shares at an issue price of Rs 157 per share through private placement.

Platinum Industries IPO GMP
Platinum Industries’ IPO is getting strong support in the gray market. Before the subscription, today i.e. February 25, the unlisted shares of the IPO are trading at a premium of Rs 90 in the gray market. Accordingly, the company’s shares are likely to be listed at a price of Rs 261. If this happens, investors will get a listing gain of 52.63 percent. However, it is not necessary that the IPO shares are listed on the stock market at a premium. Many times it also happens that shares which were trading at a premium in the gray market are also listed at a discount.

Company profile
Platinum Industry’s business is in the specialty chemicals industry. It manufactures PVC stabilizers, CPVC additives and lubricants, PVC fittings, electrical wires and cables, SPC floor tiles and packaging materials. Currently, there is no company listed in the domestic market that manufactures PVC stabilizers and CPVAs additives. The company’s total revenue grew 23% year-on-year (YoY) to Rs 232 crore in FY23. Net profit increased by 112% to Rs 37.5 crore during the same period.

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