The basis of allotment for the Initial Public Offering (IPO) of Platinum Industries Limited is scheduled to be announced on March 01, 2024, according to the red-herring prospectus of the company. The investors who subscribed for the Platinum Industries IPO may check the allotment status of their shares through the official website of IPO registrar Bigshare Services Private Limited.
Platinum Industries IPO is a book-built issue of ₹235.32 crore comprising entirely of a fresh issuance of 1.38 crore equity shares. The price band is set at ₹162 to ₹171 per share at a face value of ₹10 apiece. The issue was open for subscription between February 27-29, 2024 and was subscribed a total of 98.99 times.
Platinum Industries IPO Allotment Status
The investors can check the allotment status of their bids for shares through the official websites of BSE, NSE and the IPO registrar Bigshare Services Pvt Ltd. The allotment status will be published online on March 01, 2024. Investors can expect the status to be uploaded at registrar’s website by the night of March 01, 2024.
How to check IPO allotment status
- Visit Bigshare Service website at link- https://ipo.bigshareonline.com/IPO_Status.html
- Select the IPO name as ‘Platinum Industries’ from the ‘Company Selection’ tab
- Select to enter any of the details from Application No, Beneficiary number or PAN.
- Submit the request and the allotment status will be displayed.
Important Dates
- The basis of allotment will be finalised on March 01, 2024.
- The refunds will be processed on March 04, 2024.
- The shares to the Demat accounts of investors who got allotment will be credited on March 04, 2024.
- The company will be listed on the NSE and BSE on March 05, 2024.
Platinum Industries IPO GMP & Subscription Status
As of the latest update today, Platinum Industries GMP (Grey Market Premium) is faring at ₹95 which is 55.56% higher than the issue price of ₹162 to ₹171 per share.
The Platinum Industries Limited’s initial public offering was subscribed overall 98.99 times. The retail portion was subscribed 50.92 times but the NIIs and QIBs category were subscribed highly at 141.79 times and 151 times respectively. 35% of the issue was reserved for the retail investors, 15% for the NIIs and 20% for the QIBs. 30% of the issue was offered to the anchor investor.
Incorporated in 2016, Platinum Industries Limited is in the business of manufacturing PVC stabilizers, CVPC additives and lubricants. The company has a manufacturing unit in Palghar Maharashtra and has 13 distribution centres across the country, as of July 2023. Krishna Dushyant Rana and Parul Krishna Rana are the promoters of the company with combined pre-issue share holding at 94.74%.
The company posted revenue of ₹232.56 crore in FY23, a growth of 22.89% over ₹189.24 crore in FY22. The profit also grew 111.76% to ₹37.58 crore in FY23 as compared to ₹17.75 crore in FY22. As on September 30, 2023, the company holds assets worth ₹137.72 crore and its net worth is pegged at ₹85.04 crore.
