Platinum Industries IPO
Platinum Industries IPO — date, price band, lot size & details 2024
Platinum Industries listed on 5 Mar 2024 at ₹225, 31.6% above the ₹171 issue price.
Platinum Industries makes PVC stabilisers, CPVC additives and lubricants used in PVC pipes, profiles, cables and floor tiles. Its total income was Rs 232.56 crore in FY2023.
Stock price
Platinum Industries is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 27 Feb 2024
- Close 29 Feb 2024
- Allotment 01 Mar 2024
- Refund/credit 04 Mar 2024
- Listing 05 Mar 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 27 to 29 Feb, 2024 |
|---|---|
| Price Band | ₹162 – ₹171 |
| Face Value | ₹10 |
| Lot Size | 87 Shares |
| Issue Size | ₹235.32 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,877 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 87 shares at the ₹171 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 87 | ₹14,877 |
| Retail (max) | 13 | 1,131 | ₹1,93,401 |
| S-HNI (min) | 14 | 1,218 | ₹2,08,278 |
| S-HNI (max) | 67 | 5,829 | ₹9,96,759 |
| B-HNI (min) | 68 | 5,916 | ₹10,11,636 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 89.53 crore in FY2021 to Rs 232.56 crore in FY2023.
- 02Profit after tax rose from Rs 4.82 crore in FY2021 to Rs 37.58 crore in FY2023.
- 03The pre-issue P/E was 18.73 at the upper band of Rs 171, based on EPS of Rs 9.13.
- 04The whole Rs 235.32 crore issue was fresh capital for new plants in Egypt and Palghar.
- 05Borrowing was low at Rs 11.46 crore on 30 September 2023.
Risks · 5
- 01The company is young and small, with net worth of Rs 85.04 crore on 30 September 2023.
- 02Its business depends on PVC pipe and construction demand, and on raw material prices. The source puts the PAT margin at 9.32%.
- 03The Egypt plant, costing Rs 67.72 crore, carries overseas project risk.
- 04All current output comes from 1 facility at Palghar.
- 05Promoters and the promoter group held 94.74% before the issue and 70.99% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Platinum Industries offer document.
| Metric | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 137.72 | 121.17 | 84.48 | 32.26 |
| Total Income | 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 |
| Total Borrowing | 11.46 | 17.43 | 24.24 | 3.26 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Platinum Industries RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Platinum Industries IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹9.13 | ₹8.31 |
| P/E Ratio (x) | 18.73 | 20.57 |
| Market Cap at Offer Price (₹ Cr) | ₹427.78 | ₹469.99 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹171 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹235.28 Cr of the issue is earmarked to named objects.
About the company
Its products are PVC stabilisers, CPVC additives and lubricants. PVC stabilisers are chemical additives that protect PVC from breaking down at high temperatures during processing or use, and improve performance and durability.
Its products are used in PVC pipes, profiles, fittings, wires and cables, SPC floor tiles, rigid PVC foam boards and packaging. Its manufacturing facility is at Palghar, Maharashtra.
The IPO was Rs 235.32 crore and was entirely fresh issue. Rs 67.72 crore was planned for a plant in Egypt through a subsidiary and Rs 71.26 crore for a new plant at Palghar.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Platinum Industries IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Unistone Capital
17 issues handled (15 mainboard, 2 SME)Best listing: Sigachi Industries (+249.7%). Weakest: Fabtech Technologies (0.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Platinum Industries?
The current Grey Market Premium is ₹90, or 53% over the issue price.
What is the Platinum Industries IPO price band?
₹162 to ₹171, on a face value of ₹10.
When is the allotment?
The basis of allotment is 1 March 2024, with listing on 5 March 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
