Invest in Platinum Industries IPO Today: Bidding till Feb 29, Min. Investment ₹14,877
Starting from February 27th, retail investors can now participate in the Initial Public Offering (IPO) of Platinum Industries Limited, a prominent stabilizers manufacturing company. The IPO subscription period extends until February 29th, providing investors with an opportunity to bid for shares. The company’s shares will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on March 5th.
Platinum Industries Limited aims to raise ₹235.32 crores through this IPO by issuing 13,761,225 new shares. Notably, this IPO is entirely fresh issuance, meaning that the company’s existing shareholders and promoters will not offer any shares for sale. Investors keen on exploring opportunities in the stabilizers manufacturing sector can consider evaluating the offering presented by Platinum Industries Limited.
Minimum Bid Amount ₹14,877 for Platinum Industries IPO
Platinum Industries Limited has set the price band for this issue at ₹162-₹171 per share. Retail investors can bid for a minimum of one lot, which consists of 87 shares. If you choose to bid at the upper price band of ₹171 per share, you will need to place a bid worth ₹14,877.
For retail investors opting for the maximum 13 lots, equivalent to 1131 shares, the expenditure will amount to ₹193,401 according to the upper price band. It’s important for investors to assess their investment capabilities and make informed decisions before participating in the IPO.
Platinum Industries IPO Subscription Status
The subscription status of Platinum Industries IPO is as follows:
- Total bids: 1,49,60,172 shares against 96,32,988 shares offered.
- Retail investors’ portion: 1,08,45,072 shares bid against 48,16,429 shares offered.
- Non-institutional investors’ portion: 41,06,574 shares bid against 20,64,184 shares offered.
- QIBs portion: 8,526 shares bid against 27,52,375 shares offered.
As of 11:12 IST, data from the BSE confirms the subscription figures.
Platinum Industries’ Premium in Grey Market at 58%
Before the IPO opened, Platinum Industries’ shares commanded a premium of 58% in the grey market, implying that they reached ₹100 per share over the premium. Given this scenario, considering the price band of ₹171, its listing could potentially reach ₹271. However, this estimation suggests that the listing price of shares significantly deviates from the grey market price. Investors should exercise caution and analyze market dynamics before making investment decisions.
