Platinum Industries IPO GMP – Open and Close Date, Lot Size and Reservation 

The Subscription to Platinum Industries IPO Gym opens on 27th Feb 2024 and closes on 29th Feb 2024. It is one of the companies that specialises in manufacturing stabilizers. The products of this company are used in PVC pipes, PVC profiles, electrical wires and cables, etc. 

Platinum Industries IPO GMP 

This IPO is one kind of book-built issue of Rs 235.32 Cr. The issue is entirely a new issue of 1.38 crore shares. The allotment for the platinum industries IPO is expected to be finalized on 1st March 2024, Friday. 

Platinum  Industries IPO will list on NSE, and BSE with a tentative listing date fixed as 5th March 2024, Tuesday. The company IPO price band is set at Rs 162 to Rs 171 per share. 

The minimal lot size regarding an application is 87 shares. The minimum amount of investment needed by retail investors is Rs 14,877.

Platinum Industries IPO Timeline

IPO Opening Date  27th Feb 2024, Tuesday 
Date of IPO Closing  29th Feb 2024, Thursday 
Allotment Basis  1st March 2024, Friday 
Refund Initiation Dates  4th March 2024, Monday 
A credit of Shares to Demat  4th March 2024, Monday 
Date of Listing  5th March 2024, Tuesday 
Cut-off time for UPI-mandated confirmation  5 pm on 29th Feb 2024

Platinum Industries IPO Details 

Face Value  Rs 10 per share 
Price Band  Rs 162 to Rs 171 per share 
Size of Lot  87 shares 
Overall Issue Size  13,761,225 shares (aggregating up to Rs 235.32 Crore) 
New Issue  13,761,225 shares (aggregating up to Rs 232.32 Crore) 
Listing at  BSE, NSE 
Pre Issue of Shareholding  41,163,648
Shareholding Post Issue  54,924,873

Platinum Industries IPO Lot Size 

The minimum lot size investment for sNII is 14 lots (1218 shares), amounting to Rs 208,278, and for bNII, this is 68 lots (5,916 shares) amounting to Rs 1,011,636. Investors are required to bid for a minimum of 87 shares and multiples thereof. 

Platinum Industries IPO GMP 

The highest and minimum investment by investors of retail and HNI in forms of shares and amounts are mentioned in the below table. 

Applications  Lots  Shares  Amount 
Retail Minimum  1 87 Rs 14,877
Retail Highest  13 1131 Rs 193,401
S-HNI Minimum  14 1218 Rs 208,278
S-HNI Maximum  67 5829 Rs 996,759
B-HNI Lowest  68 5916 Rs 1,011,636

Platinum Industries IPO Reservation 

Investors Category  Provided Shares 
QIB Shares Offered  Not more than 50% of the Net Issue 
Retail Shares Facilitated  No less than 35 percent of Net Issue 
NII (HNI) Shares Offered  Not below than 15% of the net issue 

Platinum Industries IPO Promoters Holding

The promoters of this IPO are Parul Krishna Rana and Krishna Dushyant Rana 

The objective of the Issue 

  • Funding working capital expenditure needs of the firm towards setting up a producing facility for PVC Stabilizers at Palghar, Maharashtra, India. 
  • General corporate purposes. 
  • Investment within subsidiary Platinum Stabilizers Egypt LLC regarding financing its capital expenditure needs about setting up of a manufacturing facility for PVC stabilizers at SC Zone “Governorate of Suez Egypt”. 

Review of Platinum Industries IPO Reviews 

Platinum Industries provides customized goods and solutions directly to its clients and also with its network of distributors. 

Their business model is aimed at consistently expanding the product portfolio by launching new goods to cater to multiple end-use applications. 

At present financial stability of this firm is highly strong which provides and always focuses on facilitating quality service and products to consumers.  

Apply or Not For Platinum Industries IPO?

In my opinion, you apply for this IPO because of the profit this company has never denied for a long time. 

The other and most important reason why I am advising you to apply for this IPO is that the firm has a strong brand image in the market globally. 

Platinum Industries is one of the multi-product companies and firms engaged in the business of producing quality-based stabilizers. Due to focus on quality in product and a good track record within the distributor network they have an established brand image which assists us in penetrating new product categories. 

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