Platinum Industries IPO Sees Strong Demand on Opening Day. Platinum Industries Ltd’s initial public offering, launched for public subscription on February 27, has garnered significant interest from investors. By 1:25 pm on the first day of bidding, the Rs 235.32-crore IPO was oversubscribed 3.89 times, with bids received for 3,74,41,146 shares against the 96,32,988 shares available. The Platinum Industries IPO is set to close on February 29. Investor enthusiasm is evident, particularly in the retail category, which saw a subscription rate of 5.36 times, while the non-institutional quota received 5.62 times subscription. However, the qualified institutional buyer (QIB) segment saw minimal interest, with a subscription rate of 0.01 times. Allotment of shares for the Platinum Industries IPO is scheduled for March 1, and the listing is expected on both NSE SME on March 5.
Platinum Industries IPO GMP Today
Grey Market Premium for Platinum Industries IPO Indicates Strong Listing Potential. Market observers have noted that unlisted shares of Platinum Industries Ltd are currently trading at a premium of Rs 100 in the grey market compared to its issue price. This Rs 100 grey market premium (GMP) suggests an anticipated listing gain of 58.48 percent from the public issue. It’s important to note that the GMP is subject to market sentiments and may fluctuate.
Grey Market Premium Indicates Investor Willingness to Pay Above Issue Price.
Platinum Industries IPO Details
Platinum Industries IPO: Price Band Fixed at Rs 162-171 for Fresh Issue of 1.38 Crore Shares.
Platinum Industries IPO: Investor Guidelines and Managerial Roles Revealed.
As investors gear up for the Platinum Industries IPO, key details have emerged regarding lot sizes and investment thresholds. Retail participants are required to commit to a minimum lot size of 87 shares, entailing an investment of Rs 14,877. In contrast, small non-institutional investors (NII) are advised to opt for a minimum of 14 lots, equivalent to 1,218 shares, with a total investment of Rs 2,08,278. Larger NII are encouraged to consider a minimum lot size of 68 lots, comprising 5,916 shares, amounting to Rs 10,11,636.
Managing the intricate proceedings of the Platinum Industries IPO is Unistone Capital Pvt Ltd, appointed as the book-running lead manager. Meanwhile, overseeing administrative tasks and investor queries is the responsibility of Bigshare Services Pvt Ltd, serving as the registrar for the issue.