Platinum Industries was incorporated on 19 August 2016. The company is a multi-product entity engaged in the manufacturing of stabilizers. Its business segments include PVC stabilizers, CPVC additives, and lubricants, operating within the specialty chemicals industry. Its products are used in a variety of applications, such as PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, and packaging materials.
| Bidding Dates |
|---|
| 27 Feb 2024 - 29 Feb 2024 |
| Subscription |
|---|
| 99.03x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,094 | 1 | 13 | 87 | 13.8 M | ₹162 - ₹171 | 71 % | ₹2229.3 M - ₹2353.2 M | RHP DOC |
Platinum Industries IPO SUBSCRIPTION STATUS
29 Feb '24Platinum Industries IPO overall subscription rate was 99.03 times the total available shares
Platinum Industries IPO retail subscription rate was 50.99 times in the retail segment
Platinum Industries IPO non-institutional investor subscription rate was 141.83 times in the non-institutional investor category
Platinum Industries IPO Qualified Institutional Bidder subscription rate was 151 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
29 Feb 2024 (Day 3) | 50.99x | 141.83x | 151x |
28 Feb 2024 (Day 2) | 25.56x | 42.88x | 0.9x |
27 Feb 2024 (Day 1) | 10.25x | 13.6x | 0.07x |
Platinum Industries FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| H1FY24 | 230.6 | 1,228.2 | 233.4 | 218.2 |
| FY23 | 379.1 | 2,314.8 | 383.6 | 115.6 |
| FY22 | 177.5 | 1,881.6 | -148.9 | -160.2 |
| FY21 | 48.2 | 892.7 | 32.8 | 18.1 |
Platinum Industries IPO SUBSCRIPTION STATUS DETAILS
Platinum Industries had 13.8 M shares on offer
Platinum Industries IPO offer price was in the range ₹162 - ₹171
Platinum Industries IPO minimum Investment was ₹14094
Platinum Industries IPO issue size was ₹ 2229.3 M - ₹ 2353.2 M
Platinum Industries had a minimum lot size of 87 Shares per application
Platinum Industries NUMBER OF SHARES ON OFFER
Platinum Industries IPO IMPORTANT DATES
| Issue Open Date | 27 Feb 2024 |
| Issue close Date | 29 Feb 2024 |
| Allotment Date | 01 Mar 2024 |
| Refund Date | 04 Mar 2024 |
| Demat Account Credit Date | 04 Mar 2024 |
| Listing Date | 05 Mar 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Platinum Industries Allotment Status | Exchange |
Platinum Industries IPO subscription opened on 27 Feb 2024, and closed on 29 Feb 2024
IPO allotment for Platinum Industries was finalized on Friday, 01 Mar 2024
IPO listing for Platinum Industries was on NSE and BSE on Tuesday, 05 Mar 2024
Platinum Industries IPO LISTING GAINS
| Issue Price (adjusted) | 171.0 |
| Listing Open Price | 225.0 |
| Listing Close Price | 221.2 |
| Listing Gain% | 31.6% |
| Current Gain% | 31.4% |
Platinum Industries Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Platinum Industries Ltd. | 224.8 | 1234.4 | 23.8 | 4.6 | 2.7 | 11.7 | 9.5 | 465.8 | 13.8 | 52 | 4.3 | 9.5 | 5.2 |
| Pidilite Industries Ltd. | 1660 | 168953.2 | 63.8 | 3 | 11 | 22.6 | 15.9 | 14867 | 11.1 | 2448.9 | 17.9 | 26 | 21.4 |
| SRF Ltd. | 2615 | 77515.1 | 35.9 | 0.7 | 4.6 | 13.1 | 7.6 | 15893.6 | 7.2 | 1835.2 | 46.7 | 72.9 | 51.1 |
| Gujarat Fluorochemicals Ltd. | 4518.1 | 49631.3 | 85.9 | 14.7 | 9.9 | 7.3 | 4.9 | 5038 | 3.8 | 578 | 5.8 | 52.6 | 5.9 |
| Himadri Speciality Chemical Ltd. | 752.6 | 37975.8 | 47.5 | 1.6 | 7.6 | 16 | 11.9 | 4832 | 3.6 | 751.3 | 35.2 | 15.8 | 30 |
| Aether Industries Ltd. | 1591.6 | 21122.5 | 89.8 | 2.6 | 17.3 | 8.9 | 6.8 | 1181.1 | 34.2 | 219.5 | 38.5 | 17.7 | 34 |
Platinum Industries INFORMATION ON IPO ISSUE
About Platinum Industries
Platinum Industries was incorporated on 19 August 2016. The company is a multi-product entity engaged in the manufacturing of stabilizers. Its business segments include PVC stabilizers, CPVC additives, and lubricants, operating within the specialty chemicals industry. Its products are used in a variety of applications, such as PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, and packaging materials.
Object of the Issue
- Investment in a subsidiary, Platinum Stabilizers Egypt LLC, for financing its capital expenditure requirements in relation to setting up a manufacturing facility for PVC stabilizers at SC Zone, governorate of Suez, Egypt.
- Funding of capital expenditure requirements of the company towards setting up a manufacturing facility for PVC stabilizers at Palghar, Maharashtra, India.
- Funding working capital requirements of the company.
- General corporate purposes.
Platinum Industries - PROMOTERS
| Name |
|---|
| Krishna Dushyant Rana |
| Parul Krishna Rana |
Platinum Industries Book Running Lead Manager
Unistone Capital Private Limited
mb@unistonecapital.com
Platinum Industries Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Platinum Industries Strengths
Product portfolio
The company offers a diverse range of products for the PVC industry, featuring multiple product categories such as low lead-based stabilizer, calcium zinc-based stabilizer, and organic-based stabilizer. Within each product category, there are multiple grades tailored to specific applications and customer requirements
Consistent financial performance
The company's revenue from operations has grown at a CAGR (Compound Annual Growth Rate) of 42.1% over six years. Its profit has grown at a CAGR of 164% in the same period
Barriers to entry
Barriers to entry in the specialty chemical industry are typically high. The specialized nature of products leads to significant differentiation
Platinum Industries Risks
Dependent on few customers
The company heavily relies on a few customers for a significant portion of its revenue from operations. Currently, there are no long-term or exclusive arrangements with any of these customers. As a result, there is no guarantee that the company will be able to sell the quantities that have historically been supplied to these customers in the future
Negative cash flows
The company has experienced negative cash flows in its operating, investing, and financing activities in the last three financial years. Any negative cash flows in the future would adversely affect the business
Legal proceedings
The company, its promoter, and the directors are parties to certain legal proceedings. Any adverse outcome in such proceedings may impact the business
IPO FAQs
The promoters of the company are Krishna Dushyant Rana and Parul Krishna Rana.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 162.0 - 171.0.
The IPO application opens on Feb 27, 2024 and closes on Feb 29, 2024.
The minimum lot size for the IPO is 87. The maximum lot size for the IPO is 1131.
For all category investors, the minimum application amount for this IPO is Rs. 14,094.0, the maximum value for this IPO is Rs 193,401.0.
This IPO will be allotted on Mar 01, 2024.
The refund will be credited to your account on Mar 04, 2024.
The allotted shares will be credited to your demat on Mar 04, 2024.
Platinum Industries Ltd.’s shares listed on the stock exchanges on Mar 05, 2024.