Platinum Industries Ltd IPO
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Overview of Platinum Industries Ltd IPO
IPO Date
27-Feb-2024 to 29-Feb-2024
Face Value
₹10 per share
Price Band
₹162 to ₹171
Lot Size
87 Shares Share
Issue Size
13,761,225 shares (aggregating up to ₹235.32 Cr)
Listing At
BSE, NSE
Basis of Allotment
1-Mar-2024
Initiation of Refunds
4-Mar-2024
Credit of Shares to Demat
4-Feb-2024
Listing Date
5-Mar-2024
Cut off time for UPI Mandate
29-Feb-2024
Objective of Platinum Industries Ltd IPO
Platinum Industries Limited is a Mainboard IPO with a book-built issue of Rs. 235 crores, with fresh issuance of ~1.37 crore shares. The IPO will open from 27 February to 29 February 2024. Allotment is expected to be done on 1 March and will be listed on BSE and NSE on 5 March 2024. The price band is ₹162 to ₹171 per share, with a minimum lot size of 87 shares and a minimum investment amount of ₹14,877. The book-running lead manager is Unistone Capital, while Bigshare Services is the registrar for the issue.
The net proceeds from the issuance of 1,37,61,225 equity shares (worth Rs. 235 cr) will be utilized to meet working capital requirements (~Rs. 30 cr); and funding capital expenditure for setting up 2 facilities, in Egypt and Palghar (~Rs 147 crs).
About Platinum Industries Ltd IPO
Platinum Industries is a multi-product company engaged in the business of manufacturing stabilizers. The company operates in three segments: PVC stabilizers, CPVC additives, and lubricants. Platinum’s product finds their application in PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials, etc.
Platinum Industries Ltd IPO Financials
Particulars (in Cr) | H1 FY24 | FY23 | FY22 | FY21 |
---|---|---|---|---|
Total Revenue Annual | 123 | 231 | 188 | 89 |
Operating Expenses Annual | 90 | 178 | 163 | 82 |
Operating Profit Annual | 32 | 54 | 25 | 8 |
Depreciation | 1 | 2 | 1 | 1 |
Interest Annual | 2 | 2 | 2 | 0 |
Tax Annual | 7 | 13 | 6 | 2 |
Net Profit Annual | 23 | 38 | 18 | 5 |
Interest Earned | 2 | - | - | - |
Total Share Holder Funds | 85 | 62 | 22 | 4 |
Fixed Asset Annual | 28 | 29 | 4 | 4 |
Total Non Current Asset | 11 | 10 | 3 | 2 |
Total Current Asset | 98 | 82 | 77 | 26 |
Total Asset Annual | 138 | 121 | 84 | 32 |
Book Value Per Share | ₹ 15 | ₹ 11 | ₹ 4 | ₹ 1 |
ROE | 31.4% | 90.0% | 132.4% | 138.6% |
ROCE | 28.8% | 56.9% | 52.5% | 74.3% |
Total Debt To Total Equity | 0.1 | 0.3 | 1.1 | 0.7 |
EBIDTA | 26.4% | 23.3% | 13.5% | 8.5% |
Cash From Operating | 23 | 38 | -15 | 3 |
Cash From Investing | -16 | -37 | -5 | -1 |
Cash From Finance | -8 | 0 | 19 | -1 |
Net Cash Flow | -1 | 2 | -1 | 1 |
Promoter's Holding
Total Share Capital
38,994,830
Offered to Public
13,761,225
Promoter’s Holding(Pre-Issue)
94.74
Promoter’s Holding(Post-Issue)
-
1. Varied product portfolio catering to diversified industries.
2. High entry barriers in the specialty chemical industry.
3. Strong In-house R&D Capabilities
1. The business depends on a single standalone manufacturing facility in Palghar, which can disrupt the entire company's operations if there is a breakdown in the plant.
2. The business is concentrated on the top 5 customers, which have contributed ~75-80% of the top line over the past 3 fiscal years
The Platinum Industries Ltd IPO is the initial public offering (IPO) of shares of Platinum Industries Ltd, a company seeking to raise capital by offering its shares to the public for the first time.
Platinum Industries Ltd is going public to raise funds for various purposes such as expansion, debt repayment, working capital, or other corporate objectives.
The subscription period for the Platinum Industries Ltd IPO is from 27th February to 29th February.
Risks associated with investing in the Platinum Industries Ltd IPO may include market volatility, uncertainties about the company's future performance, industry-specific risks, regulatory risks, and general market risks. Investors should carefully consider these risks before investing.
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