Platinum Industries Ltd IPO
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Platinum Industries Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 137.61 L | TBA | ₹ 48.16 L | ₹ 389.87 L | BSE | ₹ 235.32 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 27 Feb, 24 | 29 Feb, 24 | 87 | ₹ 14,094 | Book Building | 05 Mar, 24 |
Platinum Industries Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Chemicals |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 60.4x | 6880613 | 415616400 |
| NII | 141.83x | 2064184 | 292754565 |
| Retail | 50.99x | 4816428 | 245589081 |
| Employee | 0x | 0 | 0 |
| Total | 69.32x | 13761225 | 953960046 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Platinum Industries Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 264.39 | 231.48 | 188.16 |
| EBITDA | 61.70 | 51.35 | 22.69 |
| PAT | 43.33 | 36.20 | 15.55 |
| Total Assets | 318.15 | 67.50 | 73.47 |
| Share Capital | 54.93 | 40.25 | 1.05 |
| Total Borrowings | 10.31 | 10.64 | 17.13 |
| Operating Activities (Net Cash) | 44.98 | 37.31 | 16.44 |
| Investing Activities (Net Cash) | 4.09 | 7.82 | 0.02 |
| Financing Activities (Net Cash) | 10.31 | 10.64 | 17.13 |
| Net Cashflow | 249.35 | 10.89 | 4.21 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Platinum Industries Ltd
Platinum Industries Limited was incorporated under the provisions of the Limited Liability Partnership Act, 2008 in the name and style of Platinum Industries LLP on August 19, 2016. Platinum Industries LLP was thereafter converted into a private limited company Platinum Industries Private Limited pursuant to the provisions of Chapter XXI of the Companies Act, 2013 vide Certificate of Incorporation dated July 09, 2020 issued by the Central Registration Centre, Registrar of Companies. Subsequently, the Company has been converted into a public limited company and the name of the Company changed to Platinum Industries Limited pursuant to a special resolution passed at the Extra-Ordinary General Meeting of the Company held on March 31, 2023 and a fresh Certificate of Incorporation dated June 02, 2023 has been issued by the RoC.
The Company operates in the speciality chemicals industry. The speciality chemicals industry was valued at $773 billion at the global level in 2022. The segment clocked 3.4% CAGR over 2016-2022. The Indian speciality chemicals industry, accounting for ~26% of the overall chemicals industry (excluding pharmaceuticals), was worth $29 billion in fiscal 2020. The industry expanded at 6.7% CAGR over fiscals 2015-20, driven by an increase in domestic offtake from various end-user industries and rising exports. However, in fiscal 2021, the industry declined 3.4% on-year because of a slowdown in economic activity and the consequent decline in demand from end-user industries. The industry exhibited recovery in fiscal 2023 with a worth of $37.9 billion. The Indian specialty chemical industry is expected to reach $48.1 billion by fiscal 2026, growing at 8.3% CAGR over 2023-26.
Platinum Industries Limited is a multi-product company engaged in the business of manufacturing stabilizers. Its business segment includes PVC stabilizers, CPVC additives and lubricants. PVC stabilizers are chemical additives used in the production of polyvinyl chloride (PVC) based products to enhance its performance and durability. They help prevent the degradation of PVC when exposed to high temperatures during processing or end-use applications. CPVC additives are chemical substances added to enhance the properties and performance of chlorinated polyvinyl chloride (CPVC) materials. Lubricants are an integral part of PVC formulation. The Company manufactures both internal and external lubricants. Its products find their application in PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials etc.
Peer Comparison:
- Supreme Petrochem Ltd
- Apcotex Industries Ltd
Platinum Industries Ltd IPO Key Points
Strengths
- Consistent financial performance.
- R & D and Sustainability.
- Varied product portfolio catering to diversified industries.
- High entry barriers in the speciality chemical industry.
- Quality Products.
Risk
- The company is in the process of expanding its operations and establishing a network of distributors & customers in regions where the company does not have a significant presence or prior experience. Any failure to expand into these new regions could adversely affect its sales, financial condition, result of operations and cash flows.
- The company is dependent on a few customers for a major part of the revenues. Further its do not enter into long-term arrangements with the customers and any failure to continue the company existing arrangements could adversely affect its business and results of operations.
- If there are delays in setting up the Proposed Facilities or if the costs of setting up and the possible time or cost overruns related to the Proposed Facilities or the purchase of plant and machinery for the Proposed Facilities are higher than expected, it could have a material adverse effect on its financial condition, results of operations and growth prospects.
Strategy
- Expanding its production capacities and broadening the global footprint.
- Increase in market share.
- Modernization and Expansion of its facility in India.
- Continue to build its global customer base and enter new geographical markets.
- Continue to innovate new product categories, catering to wider end-applications.
- Consistent financial performance.
- R & D and Sustainability.
- Varied product portfolio catering to diversified industries.
- High entry barriers in the speciality chemical industry.
- Quality Products.
How To Apply for Platinum Industries Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.