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HomeInvestmentToday is the last day to subscribe to Platinum Industries' IPO.

Today is the last day to subscribe to Platinum Industries’ IPO.

Today is the last day to subscribe to Platinum Industries' IPO. - The Hard News Daily

Platinum Industries’ initial public offering (IPO) ends today. Investors with high net worth and mainstream investors have shown great interest in the ₹235.32-crore IPO thus far. The market lot for the initial public offering is 87 shares, and the price per share is ₹162-171.

With 96.33 lakh shares (net of anchor portion) and 21.37 crore shares (total), the initial public offering (IPO) was oversubscribed eight times.

Approximately 1.38 crore shares, or the whole offering, are brand new. There is a cap of 50% for eligible institutional buyers, 15% for non-institutional investors, and 35% for retail investors on the total number of shares available in the public offering.

The amount reserved for retail investors was bid 25.50 times, while the share for non-institutional investors was subscribed 42.85 times. Ninety percent of the subscriptions were from eligible institutional buyers.

On Monday, anchor investors contributed ₹70.59 crore to Platinum Industries’ IPO. Elara India Opportunities Fund, Saint Capital Fund, Antara India Evergreen Fund Ltd, Nav Capital VCC – NAV Capital Emerging Star Fund, Astorne Capital VCC Arven, and Leading Light Fund VCC – The Triumph Fund are the seven anchor investors that the company has announced as receiving 41,28,237 shares at ₹171 each.

Investment in the company’s subsidiary, Platinum Stabilisers Egypt LLC, as well as working capital, capital expenditures for a PVC stabiliser manufacturing facility in Palghar, Maharashtra, and other general corporate purposes will be funded with the net proceeds from the offering.

The stabilizer manufacturing industry is where Platinum Industries fits in. Lubricants, CPVC additives, and PVC stabilisers make up its business vertical. Specialty chemicals are the focus of the business. Some of the many applications for the company’s goods include electrical lines and cables, packaging materials, PVC fittings and profiles, SPC floor tiles, and rigid PVC foam boards.

Palghar, Maharashtra is home to its manufacturing facility. Platinum Stabilisers Egypt LLC, the parent company’s Egyptian subsidiary, intends to launch a PVC stabiliser manufacturing project.

Unistone Capital Pvt Ltd is the lead manager for book-running operations, and Bigshare Services Pvt Ltd is in charge of the IPO’s registration.

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