Platinum Industries IPO: The initial public offering of Platinum Industries Ltd, which is going to be closed on Thursday, February 20, has received an overwhelming response from investors. Till 12:57 pm on the final day of bidding on Thursday, the Rs 235.32-crore IPO received 36.92 times subscription, garnering bids for 35,56,69,746 shares as against 96,32,988 shares on offer.
The Platinum Industries IPO was opened for public subscription on Tuesday, February 27.
The retail category has received 36.87 times subscription and the non-institutional quota got 80.69 times subscription. The qualified institutional buyer (QIB) category received 4.18 times subscription.
The allotment of the Platinum Industries IPO will take place on March 1, while its listing will take place on the NSE SME on March 5.
Platinum Industries IPO GMP Today
According to market observers, unlisted shares of Platinum Industries Ltd are trading Rs 95 higher in the grey market as compared with its issue price. The Rs 95 grey market premium or GMP means the grey market is expecting a 55.56 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Platinum Industries IPO Details
The Platinum Industries IPO is entirely a fresh issue of 1.38 crore shares. The price band of the IPO has been fixed at Rs 162 to Rs 171 per share.
The minimum lot size for an application is 87 shares. The minimum amount of investment required by retail investors is Rs 14,877. The minimum lot size investment for small NII is 14 lots (1,218 shares), amounting to Rs 2,08,278, and for big NII, it is 68 lots (5,916 shares), amounting to Rs 10,11,636.
Unistone Capital Pvt Ltd is the book-running lead manager of the Platinum Industries IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
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