Platinum Industries shares make strong debut with over 33% premium

Shares of Platinum Industries made a strong debut on bourses on Tuesday and got listed with a premium of over 33 per cent on the BSE against the issue price of Rs 171. The stock opened the trade at Rs 228, up 33.33 per cent. It later jumped 38.59 per cent to Rs 237.

Also, it got listed at Rs 225 with a gain of 31.57 per cent from the issue price on the NSE.

The valuation of the firm, which is a multi-product company and is engaged in the business of manufacturing stabilisers, stood at Rs 1,241.30 crore.

Platinum Industries' initial public offering got subscribed 98.99 times on the closing day of subscription on Thursday.

The Rs 235 crore-initial share sale had a fresh issue of up to 1,37,61,225 equity shares. It had a price range of Rs 162-171 a share.