Platinum Industries’ stock had a strong debut, opening at ₹225 on NSE and ₹228 on BSE, marking increases of 31.58% and 33.33% over its issue price of ₹171. The IPO was a hit, fully subscribed within an hour on its opening day, driven by retail and non-institutional investors. By the third day, it was oversubscribed by 99.03 times, with remarkable interest from retail investors, NIIs, and QIBs, according to BSE data.
Platinum Industries Ltd specializes in manufacturing PVC and CPVC stabilizers and lubricants, catering to various industries like PVC pipes and electrical wires. Situated in Palghar, Maharashtra, near JNPT Port, their ISO-certified facility allows global exports. With a focus on innovation and quality, they continuously expand their product range and benefit from a robust distributor network for successful market penetration.
Platinum Industries aims to allocate funds from its IPO for two main purposes: investment in its subsidiary in Egypt for facility expansion and setting up a PVC additives manufacturing plant in Palghar. Additionally, funds will be utilised for working capital and general corporate objectives.