Platinum Industries Limited IPO Details
| 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 | 1,37,61,225 shares (aggregating up to ₹ 235.32 Cr) |
| Fresh Issue | 1,37,61,225 shares (aggregating up to ₹ 235.32 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 4,11,63,648 |
| Share holding post issue | 5,49,24,873 |
About 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.
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.
Platinum Industries Limited IPO Financial Information
Latest Revenue
123.73
₹ Crore
Profit After Tax
22.84
₹ Crore
Net Worth
85.04
₹ Crore
Total Borrowing
11.46
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 137.72 | 123.73 | 22.84 | 85.04 | 11.46 | ||||
| 31 Mar 2023 | 121.17 | 232.56 | 37.58 | 61.88 | 17.43 | ||||
| 31 Mar 2022 | 84.48 | 189.24 | 17.75 | 22.34 | 24.24 | ||||
| 31 Mar 2021 | 32.26 | 89.53 | 4.82 | 4.47 | 3.26 | ||||
| Amount in ₹ Crore | |||||||||
Platinum Industries Limited 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 |
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Competitive Strengths
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Platinum Industries Limited IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid 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 |