Platinum Industries Ltd IPO: Eco-Friendly Chemicals & Growth Potential
Discover Platinum Industries IPO, a major player in the chemical sector. Learn about IPO dates, price, financials, and investment analysis. Explore now!
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Platinum Industries Ltd IPO
Platinum Industries Limited, established in August 2016, is a significant player in the chemical sector, particularly in PVC stabilisers, CPVC additives, and lubricants. Known for its eco-friendly options, the company's products are utilized in various applications, including PVC pipes, electrical wires, and packaging materials. With a factory in Palghar, Maharashtra, Platinum Industries has seen rapid growth in revenue from operations, expanding its reach to twelve locations across India by July 2023.
The Platinum Industries IPO is set to be open for subscription from February 27 to February 29, 2024, offering shares at Rs. 150 - Rs. 157 per share, with a total issue size of Rs. 216.05 crores. Institutional investors are allocated 50%, with 15% for non-institutional investors and 35% for retail investors.
IPO Financials
Financially, Platinum Industries has experienced significant growth, with total revenue and net worth showing substantial increases from previous years. Revenue distribution across products and states reveals a focus on PVC stabilisers and a strong domestic revenue share. The company intends to utilize the net proceeds for investing in infrastructure, financing capital expenditure, working capital requirements, and general corporate purposes.
Promoted by Krishna Dushyant Rana and Parul Krishna Rana, Platinum Industries aims to capitalize on its strong financial performance, commitment to R&D and sustainability, diverse product portfolio, and high entry barriers in the specialty chemical industry. However, challenges such as heavy reliance on a few customers and potential risks associated with expansion into new regions need to be considered by investors.
The IPO's price range, with a P/E ratio ranging from 18.15x to 26.77x, appears neutral compared to industry averages. While the company's strengths present an attractive investment opportunity, investors should carefully evaluate the associated risks before making investment decisions.
