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Platinum Industries Ltd IPO

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.

Platinum Industries Ltd IPO Details

Total Shares Offered

₹ 1,37,61,225

Offer to Public

TBA

Retail Max (Shares)

₹ 48,16,428

Pre Issue Promoters Holding

₹ 3,89,87,030

Exchange

BSE

Issue size

₹ 235.32 Cr

IPO Open Date

Feb 27, 2024

Close Date

Feb 29, 2024

Lot Size

Min Investment

₹ 14,094

Issue Type

Book Building

Listing Date

Mar 5, 2024

Platinum Industries Ltd IPO Dates

Feb 27, 2024

Opening date

Feb 29, 2024

Closing date

Mar 1, 2024

Basis of Allotment

Mar 4, 2024

Initiation of Refunds

Mar 4, 2024

Credit of Shares

Mar 5, 2024

Listing date

Details

Sector	Type
Sector	Chemicals
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	6880613
NII	0x	2064184
Retail	0x	4816428
Employee	0x	0
Total	0x	13761225

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

6880613

2064184

4816428

13761225

Platinum Industries Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	392.26	264.39	231.48
EBITDA	72.21	61.70	51.35
PAT	48.84	43.33	36.20
Total Assets	270.20	318.15	67.50
Share Capital	54.93	54.93	40.25
Total Borrowings	20.06	10.31	10.64
Operating Activities (Net Cash)	51.78	44.98	37.31
Investing Activities (Net Cash)	-5.10	4.09	7.82
Financing Activities (Net Cash)	20.06	10.31	10.64
Net Cashflow	145.02	249.35	10.89

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.

Peer Comparison:

Supreme Petrochem Ltd
Apcotex Industries Ltd

Platinum Industries Ltd 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.

How To Apply for Platinum Industries Ltd IPO Online?

Step 1:

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.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Platinum Industries Ltd IPO?

Platinum Industries Ltd's IPO offers shares for up to 235.32 It begins on Feb 27, 2024 and ends on Feb 29, 2024.

What is the price of the Platinum Industries Ltd IPO?

The price of Platinum Industries Ltd IPO ranges between ₹162 to ₹171 per share.

What are the open and close dates for the Platinum Industries Ltd IPO?

The Platinum Industries Ltd IPO opens on Feb 27, 2024 and closes on Feb 29, 2024.

When will the Platinum Industries Ltd IPO be allotted?

The allotment for the Platinum Industries Ltd IPO will be finalised on Mar 1, 2024. The shares will be listed on BSE and NSE on Mar 5, 2024.

What is the minimum lot size required for Platinum Industries Ltd IPO?

The minimum lot size for Platinum Industries Ltd IPO is 87 shares, priced between ₹162 to ₹171 per share.

What is the GMP of Platinum Industries Ltd IPO?

The GMP (Grey Market Premium) of Platinum Industries Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Platinum Industries Ltd IPO?

To check the allotment status of Platinum Industries Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Platinum Industries Ltd IPO getting listed?

The Platinum Industries Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Feb 27, 2024, and closes on Feb 29, 2024. The allotment is finalised on Mar 1, 2024.

How do you apply for the Platinum Industries Ltd IPO?

To apply for the Platinum Industries Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.