Platinum Industries IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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    Post Listing Review: Will update soon
    Platinum Industries Allotment Status

    What is the latest GMP of Platinum Industries IPO?   Click
    What is the subscription status of Platinum Industries IPO?   
    On 28 February 2024 5.00 pm (Day 2) 
    Review: Subscription improved on Day2
    QIB:              2752375  Shares       0.90 T
    NII(10L+):    1376123  Shares     34.57 T
    NII (<10L)      688061  Shares     59.77 T
    NII (Total)    2064184  Shares     42.97 T

    RII:               4816429  Shares     25.76 T
    Total:            9632988  Shares    22.35 T

    What are the promoters of Platinum Industries IPO?   
    The promoters of the Company are Krishna Dushyant Rana and Parul Krishna Rana.

    What are the Objects of Platinum Industries IPO?

    The Issue comprises a Fresh Issue by the Company.
    The Net Proceeds from the Issue are proposed to be utilized by the company for the following objects:
    Investment in the subsidiary, Platinum Stabilizers Egypt LLC (“PSEL”), for financing its capital expenditure requirements about the setting up of a manufacturing facility for PVC Stabilizers at SC Zone ‘Governorate of Suez Egypt’
    Funding of capital expenditure requirements of the company towards setting up of a manufacturing facility for PVC Stabilizers at Palghar, Maharashtra, India
    Funding working capital requirements of the Company; and
    General corporate purposes.

    What is the business of Platinum Industries ?

    Platinum Industries is a multi-product company engaged in the business of manufacturing stabilizers. Its business segment includes PVC stabilizers, CPVC additives and lubricants. It operates in the speciality chemicals industry. Its 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.The Indian speciality chemicals industry, accounting for ~26% of the overall chemicals industry (excluding pharmaceuticals), was worth $29 billion in fiscal 2020. The industry expanded at 6.7% CAGR over fiscals 2015-20, driven by an increase in domestic offtake from various end-user industries and rising exports. However, in fiscal 2021, the industry declined 3.4% on-year because of a slowdown in economic activity and the consequent decline in demand from end-user industries. The industry exhibited recovery in fiscal 2022 with an estimated worth of $33.5 billion. The Indian speciality chemical industry is expected to reach $51 billion by fiscal 2026, growing at 11.1% CAGR over 2022-26.
    According to the CRISIL Report, it is the third largest player of PVC stabilizer in terms of sales with an 8.00% market share for the financial year 2021-22 in the domestic market.

    Its Manufacturing Facility is located at Palghar, Maharashtra which is spread across an aggregate parcel of land admeasuring about 21,000 sq. ft.Its Manufacturing Facility has obtained ISO 9001:2015 certification for quality management systems.

    The company through its subsidiary Platinum Stabilizers Egypt LLC, intend to establish a project inEgypt, which shall be spread over an aggregate parcel of land admeasuring about 10,000 sq. mtrs and shall venture into manufacturing of PVC stabilizers (both lead based and non-lead based). Further, it is in a processof setting up a new manufacturing facility at Palghar, Maharashtra which shall be spread across an aggregate parcel of land admeasuring about 14,800 sq. mts. which shall be used to manufactureof PVC stabilizers (non-lead based).

    For more information, click https://platinumindustriesltd.com/

    Platinum Industries IPO GMP, Particulars & Guidance

    Platinum Industries IPO Details 
    IPO opens on  27 February 2024 
    IPO closes on  29 February 2024 
    Issue Type Book Built Issue IPO
    Issue Size 13761225 Sh /Rs 235.32 Cr
    * Fresh Issue 13761225 Sh /Rs 235.32 Cr
    * Offer for Sale  – Sh /Rs – Cr
       
    Face Value per share: Rs. 10
    Price Band  Rs. 162-171
    Retail Discount  Rs 0 per share
    Employee discount  Rs.? per share
    Retail Lot Size  87 Shares
    Listing will at  BSE, NSE
    Shares offered in Platinum Industries ? Shares Rs. in Cr
    QIB (50 %)  6880612 116.26
    NII (15 %)  2064184   34.88
    RII (35 %)  4816429   81.38
    Employees   
    Total Shares  13761225 232.52
    Retail portion will be oversubscribed by  ? Forms.
    How to apply in Platinum Industries IPO ? Amount Rs.
    Min Retail Application     87 Sh     14877
    Max Retail Application  1131 Sh   193401
    Small HNI (Min) application  1218 Sh   208278
    Small HNI (Max) application 5829 Sh   996759
    Big HNI Application 5916 Sh 1011636

    What is the timetable of Platinum Industries IPO?
    IPO opens on 27 February 2024
    IPO Closes on 29 February 2024
    IPO Allotment on  1 March 2024
    Unblocking of ASBA  4 March 2024
    Credit of Shares 4 March 2024
    Listing on 5 March 2024
    Registered Office of Platinum Industries 
    Platinum Industries Limited
    Unit No. 841, 4th Floor, Solitaire Corporate
    Park-8, Andheri Kurla Road
    Andheri (E), Mumbai –400093
    Who are the Lead Managers of Platinum Industries IPO?
    Unistone Capital Pvt Ltd
    Registrar to IPO
    Bigshare Services Pvt Ltd

    Platinum Industries IPO Financial & Analytical Ratios
    Year Total Income Net Profit EPS RoNW
      Rs. in Cr Rs.in Cr Rs. %
    2020-21 89.53   4.82 1.24 107.6
    2021-22 189.24 17.75 4.41 79.45
    2022-23  232.56 37.58 9.42 61.26
    Book Value of the Share on 31.03.2023 Rs. 15.37    
    BV of the Share after the FPO Rs. ?    
    Offer Price at Cap Rs.  171    
    Platinum Industries IPO
    Ratio Analysis
    Price /EPS 18.52
    Price/Book Value Ratio 11.12
    Price/BV after IPO  ?

    How Platinum Industries IPO compares with the Peers?
    Peer Comparison.
    There are no listed companies that exclusively undertake the manufacturing of PVC stabilizers and CPVC additives. Hence, basis factors such as the scale of the business, exposure to the Construction and industrial applicant industry, (as speciality chemicals industry contributes the majority of revenue from operations for the Company), a proxy set of listed peers of Supreme Petrochem Ltd and Apcotex Industries Ltd (the “Industry Peers”) have been identified for the Company.

    As on date of DRHP FV Total  PE
      Rs. Income Ratio of
        Rs. In Cr  
    Platinum Industries 10   231.48 18.52
    Supreme Industries 5 5287.21 16.57
    Apcotex Industries 2 1079.93 26.56
           
           
           
           
           

    # This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

    Platinum Industries IPO Guidance
    Platinum Industries is a multi-product company engaged in the business of manufacturing stabilizers. Its business segment includes PVC stabilizers, CPVC additives and lubricants. It operates in the speciality chemicals industry. Its 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.
    Size:
    The size of the IPO is just Rs. 216.05 Cr. Retail portion is only Rs.75.62 Cr. So huge oversubscription is possible.
    Guidance: The Shares are offered at very attractive valuation of 16.67 PE multiple. However compared to the valuation of peer companies, the turnover of this company is very small. Accordingly, it may not command the valuation enjoyed by Supreme Industries etc. At present, the market considers huge oversubscription and impeding interest-costs. So the premium in the grey market has moved up to Rs. 100 Vs. Issue price of Rs. 171. Chances of allotment will be tough. Do remember, the existing premium may not be reflected in the gains at the time of listing. Apply

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