Platinum Industries IPO: The IPO of stabilizers manufacturing company Platinum Industries Limited has opened for retail investors from today i.e. 27th February. In this you will be able to bid till 29th February. The company’s shares will be listed on the National Stock Exchange and Bombay Stock Exchange on March 5.
Platinum Industries Limited wants to raise ₹235.32 crore through this IPO. For this the company will issue 13,761,225 fresh shares. This is a completely fresh IPO, in which the existing investors and promoters of the company will not sell a single share through Offer for Sale.
Minimum investment will be ₹14,877 (Platinum Industries IPO)
Platinum Industries Limited has fixed the price band of this issue at ₹162-₹171. Retail investors can bid for a minimum of one lot i.e. 87 shares. If you apply for 1 lot as per the upper price band of the IPO at ₹171, you will have to invest ₹14,877. At the same time, retail investors can apply for a maximum of 13 lots i.e. 1131 shares. For this, investors will have to spend Rs 193,401 as per the upper price band.
Platinum Industries premium in gray market 58%
Before the opening of the IPO, the company’s shares had reached a premium of 58% i.e. ₹ 100 per share in the gray market. In such a situation, according to the upper price band of ₹ 171, its listing can be at ₹ 271. However, this is just an estimate, the listing price of a share is quite different from the gray market price.