Platinum Industries IPO: PVC and CPVC additives maker Platinum Industries launched an initial public offering (IPO) on Tuesday, February 27. The subscription window will be open for from 10 am to 5 pm for three trading days, till February 29.

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The Platinum Industries IPO comprises fresh issuance of 1.38 crore shares, estimated to be worth Rs 235.3 crore.  

Here are some important things to know about the Platinum Industries IPO:

Platinum Industries IPO Subscription status

According to provisional exchange data, Platinum Industries IPO's share sale received bids for 95,39,60,046 shares against 96,32,988 shares on offer, translating into a subscription of 99.03 times, on Thursday, the third day of the bidding process. 

Category Subscription (No. of times the equity reserved)
Qualified institutional buyers  151
Non-institutional investors 141.83
Retail investors 50.99
Overall 99.03
Source: Exchange data

Platinum Industries IPO allotment date

The basis of the allotment of shares is set to be finalised tentatively on March 1.

Platinum Industries listing date

Platinum Industries shares are likely to be listed on stock exchanges BSE and NSE tentatively on March 5. 

Platinum Industries IPO price band

The Platinum Industries IPO is priced at Rs 162-171 per share. 

Platinum Industries IPO lot size

Under the IPO, potential investors will be able to bid for the Platinum Industries stock in multiples of 87 shares, which translates into Rs 14,877 per lot.

Platinum Industries IPO: Book-running lead managers

Unistone Capital is the book-running lead manager while Bigshare Services is the registrar for the Platinum Industries IPO.

What does Platinum Industries do?

Incorporated in 2016, Platinum Industries specialises in producing stabilisers. The company manufactures PVC stabilisers, CPVC additives, and lubricants.

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