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16 Nov 2024
Platinum Industries Limited IPO
Platinum Industries Ltd. (PIL) is a multi-product company engaged in the business of manufacturing stabilizers. Its business segment includes PVC stabilizers, CPVC additives and lubricants. Thus it operates in specialty chemicals and its products find application in PVC Pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials etc. PVC stabilizers are chemical additives used in the production of polyvinyl chloride (PVC) based products to enhance the performance and durability of PVC. These stabilizers enhance the thermal stability of PVC by allowing it to withstand heat without significant degradation or loss of physical properties. They prevent the discoloration, embrittlement and degradation of PVC caused by UV exposure, ensuring the longevity and aesthetics of PVC-based applications.
It also improves the mechanical properties of PVC, such as its impact strength, tensile strength, and flexibility. In recent times, there has been a noticeable shift in the trends and preferences within the PVC stabilizer industry, particularly in sectors such as potable water distribution, agriculture, constructions, medical consumables, wires and cables. Traditionally, lead-based PVC stabilizers were commonly utilized for their stabilizing properties. Platinum Industries IPO is a book-built issue of Rs 235.32 crores. The issue is entirely a fresh issue of 1.38 crore shares. Platinum Industries IPO price band is set at ₹162 to ₹171 per share. The minimum lot size for an application is 87 Shares. Unistone Capital Pvt Ltd is the book running lead manager of the Platinum Industries IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Platinum Industries IPO Overview
| Detail | Description |
|---|---|
| IPO Date | February 27, 2024 to February 29, 2024 |
| Listing Date | March 5, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹162 to ₹171 per share |
| Lot Size | 87 Shares |
| Total Issue Size | 13,761,225 shares (aggregating up to ₹235.32 Cr) |
| Fresh Issue | 13,761,225 shares (aggregating up to ₹235.32 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 41,163,648 |
| Share holding post issue | 54,924,873 |
Platinum Industries IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Tuesday, February 27, 2024 |
| IPO Close Date | Thursday, February 29, 2024 |
| Basis of Allotment | Friday, March 1, 2024 |
| Initiation of Refunds | Monday, March 4, 2024 |
| Credit of Shares to Demat | Monday, March 4, 2024 |
| Listing Date | Tuesday, March 5, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 29, 2024 |
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
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 4,128,237 (30.00%) | NA | QIB Shares Offered | 2,752,375 (20.00%) | NA |
| NII (HNI) Shares Offered | 2,064,184 (15.00%) | |
| bNII > ₹10L | 1,376,123 (10.00%) | 1,129 |
| sNII < ₹10L | 688,061 (5.00%) | 564 |
| Retail Shares Offered | 4,816,429 (35.00%) | 55,361 |
| Total Shares Offered | 13,761,225 (100%) |
Platinum Industries IPO Promoter Holding
| Share Holding Pre Issue | 94.74% |
| Share Holding Post Issue |
Platinum Industries IPO Anchor Investors Details
| Bid Date | February 26, 2024 |
| Shares Offered | 4,128,237 |
| Anchor Portion Size (In Cr.) | 70.59 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 31, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 30, 2024 |
Company & Financials
Incorporated in August 2016, Platinum Industries Limited is a company that specializes in producing stabilizers. The company manufactures PVC stabilizers, CPVC additives and lubricants. The company's products are used in PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials, etc. The manufacturing facility of the company is situated in Palghar, Maharashtra, and spreads across 21,000 sq. ft. of land. The revenue from operations grew at a CAGR of 42.11% in six years, from ₹284.19M in 2018 to ₹2,340.56M in 2023. As of July 2023, the company has twelve distribution centers spread across India.
Platinum Industries Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 137.72 | 121.17 | 84.48 | 32.26 | ||||||||||||||||||||||||||||||||||||
| Revenue | 123.73 | 232.56 | 189.24 | 89.53 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 22.84 | 37.58 | 17.75 | 4.82 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 85.04 | 61.88 | 22.34 | 4.47 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 44.86 | 21.80 | 21.28 | 3.53 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 11.46 | 17.43 | 24.24 | 3.26 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
| ROE | 90.02% |
| ROCE | 56.85% |
| Debt/Equity | 0.28 |
| RoNW | 61.26% |
| P/BV | 11.13 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 9.13 | 8.31 |
| P/E (x) | 18.73 | 20.57 |
Objectives of Platinum Industries IPO
The Net Proceeds from the Issue are proposed to be utilized by the company for the following objectives:
- 1. Investment in the subsidiary, Platinum Stabilizers Egypt LLC ("PSEL"), for financing its capital expenditure requirements about the setting up of a manufacturing facility for PVC Stabilizers at SC Zone 'Governorate of Suez Egypt.'
- 2. Funding of capital expenditure requirements of the company towards setting up of a manufacturing facility for PVC Stabilizers at Palghar, Maharashtra, India.
- 3. Funding working capital requirements of our Company.
- 4. General corporate purposes.
Platinum Industries IPO Review
The company is a multi-product player in PVC stabilizers, lubricants etc. and has created a niche place with innovative quality products that bring high margins. The company posted growth in its top and bottom lines and the management is confident of maintaining the trends in coming years. Though on the basis of FY24 annualized earnings the issue appears fully priced, it is worth grabbing for the medium to long term rewards considering bright prospects ahead and its timely expansion plans.
FAQs for Platinum Industries IPO
-
What Is The Allotment Date Of Platinum Industries Limited’s IPO?
The allotment date of Platinum Industries Limited’s IPO is March 1, 2024.
-
What Is The Price Band Of The Platinum Industries Limited’s IPO?
The price band of Platinum Industries Limited IPO is INR 162 to 171 per share.
-
What Is The Size Of Platinum Industries Limited’s IPO?
Platinum Industries Limited consists of a fresh issue of 1.59 crore shares. The company allocates funds internationally for PVC facilities, working capital, and general corporate purposes.
-
What Is The Listing Date Of Platinum Industries Limited’s IPO?
The listing date of Platinum Industries Limited’s IPO is March 5, 2024.
Platinum Industries IPO Subscription Status
Category
Subscription (times)
QIB
151.00
NII
141.79
bNII (bids above ₹10L)
138.46
sNII (bids below ₹10L)
148.46
Retail
50.92
Total
98.99
RHP:
RHP of Platinum Industries Limited IPO
DRHP:
DRHP of Platinum Industries Limited IPO
Anchor Investor Link:
Anchor Investor Link of Platinum Industries Limited IPO
-
What Is The Allotment Date Of Platinum Industries Limited’s IPO?
The allotment date of Platinum Industries Limited’s IPO is March 1, 2024.
-
What Is The Price Band Of The Platinum Industries Limited’s IPO?
The price band of Platinum Industries Limited IPO is INR 162 to 171 per share.
-
What Is The Size Of Platinum Industries Limited’s IPO?
Platinum Industries Limited consists of a fresh issue of 1.59 crore shares. The company allocates funds internationally for PVC facilities, working capital, and general corporate purposes.
-
What Is The Listing Date Of Platinum Industries Limited’s IPO?
The listing date of Platinum Industries Limited’s IPO is March 5, 2024.
Platinum Industries IPO Subscription Status
| Category | Subscription (times) |
|---|---|
| QIB | 151.00 |
| NII | 141.79 |
| bNII (bids above ₹10L) | 138.46 |
| sNII (bids below ₹10L) | 148.46 |
| Retail | 50.92 |
| Total | 98.99 |
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