Platinum Industries Limited is launching its IPO. The opens for subscription on 27th February and will close on 29th February 2024.
What does Platinum Industries Limited do?
Incorporated in 2016, Platinum Industries Limited is a multi-product company engaged in the business of manufacturing stabilizers. Their business segment includes PVC stabilizers, CPVC additives, and lubricants. The company operates in the specialty chemicals industry. The company’s products find their application in PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials, etc.
According to the CRISIL Report, They are the third largest player of PVC stabilizers in terms of sales with a ~13% market share for the financial year 2022-23 in the domestic market. The manufacturing facility of the company is situated in Palghar, Maharashtra.
What is the issue size of the Platinum Industries IPO?
The entire issue size of the IPO comprises a fresh issue of 13,761,225 shares aggregating up to ₹ 235.32 Cr.
Financials of Platinum Industries Limited IPO (₹ crores)
| Financial Year | Total Assets | Total Revenue | Profit After Tax | EBITDA | EPS |
|---|---|---|---|---|---|
| March 31, 2021 | 32.26 | 89.53 | 4.82 | 7.56 | 1.24 |
| March 31, 2022 | 84.48 | 189.24 | 17.75 | 25.35 | 4.41 |
| March 31, 2023 | 121.17 | 232.56 | 37.58 | 53.86 | 9.42 |
Risk factors to consider:
Risks with single manufacturing facility: The company operates out of a single Manufacturing Facility which is located in Palghar, Maharashtra, any localized social unrest, natural disaster, breakdown of services in and around Palghar, Maharashtra or any disruption in production at, or shutdown of the manufacturing unit could have material adverse effect on the business and financial condition.
Dependence on Top 5 customers: The top 5 customers contribute nearly 82% of the total sales. Further, the company does not enter into long-term arrangements with their customers and any failure to continue their existing arrangements could adversely affect the business and results of operations.
Schedule/Timeline of Platinum Industries Limited IPO
| Issue Period | 27th February to 29th February 2024 |
|---|---|
| Price band | ₹ 160 to 171 |
| Minimum Bid quantity | 87 & Multiples thereof |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | March 01, 2024 |
| Initiation of Refunds | March 04, 2024 |
| Credit of Shares | March 04, 2024 |
| Date of Listing | March 05, 2024 |
| Mandate end date | March 15, 2024 |
| Anchor Investors Lock-In End Date (50% of the investment) | April 01, 2024 |
Anchor Investors Lock-In End Date (Remaining investment) June 01, 2024
Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.
How to apply to the Platinum Industries Limited IPO?
You can apply for the Platinum Industries Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for the Platinum Industries Limited IPO?
You can check the allotment status for the Platinum Industries Limited IPO on the website of the Registrar and Transfer agent.