IPO Corner: Platinum Industries Ltd. – Manufacturing Stabilizers and Lubricants


Platinum Industries Ltd., a leading multi-product company specializing in manufacturing stabilizers and lubricants, has successfully secured Rs. 70.59 crore from anchor investors in anticipation of its forthcoming initial public offering (IPO). The IPO is set to open for public subscription on Tuesday, February 27, 2024. Notably, the company allocated 41,28,237 equity shares at a price of Rs. 171 per share to anchor investors on Monday, February 26, 2024.

Anchor Investors’ Participation

The IPO attracted significant interest from both foreign and domestic institutions, with notable investors including Baring Private Equity India AIF 2, Elara India Opportunities Fund, Cent Capital Fund, Antara India Evergreen Fund Limited, NAV Capital VCC, NAV Capital Emerging Star Fund, and Astorna Capital The participants were included. VCC Arwen and Leading Light Fund VCC: The Triumph Fund. The equity shares are scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

IPO Details and Offering

The IPO comprises a fresh issue of up to 13.76 million equity shares with no offer for sale (OFS) component. The IPO is scheduled to open on Tuesday, February 27, 2024, and end on Thursday, February 29, 2024. The price band for the issue has been set at Rs. 162–Rs. 171 per equity share.

Financial Outlook

At the upper end of the price band, the IPO is expected to raise Rs. 235.32 crore. Interested investors can bid for a minimum of 87 equity shares and in multiples of 87 equity shares thereafter.

Platinum Industries Ltd.’s IPO presents a compelling opportunity for investors looking to participate in the growth story of a well-established player in the manufacturing sector. With a diverse product portfolio and strong market presence, the company is poised for significant growth in the coming years.

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