Platinum Industries Limited raises Rs. 70.59 crore from Anchor Investors

Mumbai, February 26, 2024 (GNI): Platinum Industries, a multi-product company engaged in the business of manufacturing stabilizers, which includes PVC stabilizers, CPVC additives and lubricants, has garnered Rs. 70.59 crores from anchor investors ahead of its initial public offering that opens for public subscription on Tuesday, February 27, 2024. The company informed the bourses that it allocated 41,28,237 equity shares at Rs. 171 per share on Monday, February 26, 2024, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were Baring Private Equity India AIF 2, Elara India Opportunities Fund, Saint Capital Fund, Antara India Evergreen Fund Ltd, Nav Capital VCC – NAV Capital Emerging Star Fund, Astorne Capital VCC Arven, Leading Light Fund VCC – The Triumph Fund
Unistone Capital Private Limited is the sole book-running lead manager to the Issue and Bigshare Services Private Limited is the registrar of the Issue. The equity shares are proposed to be listed on the BSE and NSE.
IPO Details
The issue consists of a fresh issue of equity shares up to 13.76 million with no offer for sale (OFS) component.

The Company is proposing to open its initial public offering of Equity Shares (the “Issue”) on Tuesday, February 27, 2024, and closes on Thursday, February 29, 2024. The price band for the Issue has been determined at Rs 162 – Rs 171 per equity share.

The IPO will fetch Rs 235.32 crore at the upper end of the price band.

Investors can bid for a minimum of 87 equity shares and in multiples of 87 equity shares thereafter.

The Issue is being made through the Book Building Process, wherein not more than 50% of the Issue shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Issue shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation to Retail Individual Bidders.ends GNI