There can be a profit of Rs 90 on every share, this IPO created a stir in the gray market.

Platinum Industries IPO: The IPO of stabilizer manufacturing company Platinum Industries will open on 27th February. Investors will be able to bid for the shares of this issue till 29 February. The price band of this issue is Rs 162-171 per share. The company has kept the price band of Rs 162-171 per share for the issue. The company intends to raise Rs 235.32 crore through this IPO. IPO is getting 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 qualified institutional buyers and 15 percent for NII. Only fresh equity shares will be issued under the issue, there will be no sale through Offer for Sale (OFS). Unistone Capital is the book-running lead manager for the IPO and BigShare Services is the registrar.

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Currently promoter holding is 94.74 percent
Promoters hold 94.74 percent stake in Platinum Industries. Public shareholders including Dr. Horst Michael Schiller hold 5.26 percent shares. Platinum Industries has allotted a pre-IPO placement 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 tremendous support in the gray market. Before subscription today i.e. on 25th February, unlisted shares of IPO are trading at a premium of Rs 90 in the gray market. According to this, there is a possibility of listing of the company’s shares at the price of Rs 261. If this happens then investors will get a listing gain of 52.63 percent. However, it is not necessary that the listing of IPO shares in the stock market should be at a premium. Many times it also happens that the 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 which manufactures PVC stabilizers and CPVAs additives. In the financial year 2023, the total income of the company increased by 23 percent on annual basis (YoY) to Rs 232 crore. During the same period, net profit increased by 112 per cent to Rs 37.5 crore.

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