Platinum Industries Ltd., an industry leader in the manufacturing of PVC and CPVC additives in India, has set the price band for its much-anticipated initial public offering (IPO) at Rs. 162-171. The IPO will be open for subscription from February 27, 2024, to February 29, 2024, with the anchor book opening a day earlier on February 26, 2024. The company will allot shares on March 1, 2024 with refunds processed on March 4, 2024. The company will be listed on the NSE and BSE, with trading of the equity shares to commence on March 5, 2024. At the upper price band, the fresh issue size amounts up to Rs. 235 crore, projecting a market capitalisation of Rs. 939 crore approximately post-listing.
Platinum Industries Ltd. IPO Price Band Announcement
Platinum Industries was born out of a vision to redefine the landscape of the PVC industry in India. The company operates within the speciality chemicals sector, producing essential components for PVC pipes, profiles, fittings, electrical wires, cables, SPC floor tiles, rigid PVC foam boards, and packaging materials. Under the visionary leadership of its Promoters, Krishna Dushyant Rana and Parul Krishna Rana, who currently hold 94.71% of the company shares, Platinum Industries has demonstrated remarkable growth. The company has recorded a CAGR of 42.11% over six years for revenue from operations, escalating from Rs. 284.19M in 2018 to Rs. 2,340.56M in 2023. The financial year ending March 31, 2023, saw a revenue increase of 22.89% and a Profit After Tax (PAT) surge of 111.76% compared to the previous year.
Furthermore, the company proudly stands as the third-largest player in Indias PVC stabilizer market with a robust domestic market share of approximately 13% in FY23 and an impressive annual production capacity of 36,000 tons. (Source: CRISIL Report)Today, Platinum Industries Limited proudly stands as a testament to the transformative power of vision, innovation, and a dedicated commitment to excellence. By investing heavily in research and development, Platinum Industries Limited has pioneered lead-free PVC additives, challenging the conventional practices in the industry. This groundbreaking move not only set the company apart from its peers but also drove Platinum Industries to the forefront of environmentally responsible manufacturing.
Under the leadership of Krishna Dushyant Rana, Chairman & Managing Director, Platinum Industries Limited, the company has achieved significant milestones, including the expansion of its product line with lead free solutions and the establishment of state-of-the-art manufacturing facilities to cater to local and international markets.
The proceeds from the IPO are earmarked for funding of capital expenditure requirements of our Company towards setting up of a manufacturing facility for PVC Stabilizers at Palghar in Maharashtra, India; strategic investments in its subsidiary, Platinum Stabilizers Egypt LLC (“PSEL”), in the SC Zone, Egypt; and to meet other working capital requirements.
About Platinum Industries Ltd.
From humble beginnings in the year 2016, Platinum Industries today stands tall as one of the leading PVC & CPVC additives manufacturers in India. The company provides end-to-end additives solutions for the entire range of polymers. Committed to setting international benchmarks, driven by innovation and the desire to create a sustainable ecosystem, Platinum Industries is among the very few chemical companies in India that is specializing in manufacturing superior quality, economical lead-free additives which are used in the manufacturing of PVC pipes, thus playing an important role in restricting the penetration of lead in water. The company’s state-of-the-art manufacturing plant and robust R&D lab in Palghar is continuously innovating to create stabilizers and other chemicals that can be used in a wide range of applications.
