Platinum Industries IPO Listing Today: Platinum Industries IPO opened at Rs 225, a 32% premium to the issue price of Rs 171. The company opened its subscription to retail investors on February 27 and closed on February 29.  

The company’s stocks were fetching a 51% premium in the grey market. It is an unofficial market where shares change hands illegally before they get listed on the bourses. Market participants track stocks in the grey market to take cues from it.

Platinum Industries set their IPO price band at Rs 162 to 171 per equity share to raise Rs 235.32 by offering 1.38 crore shares.

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A retail investor will have to bid for a minimum of 87 shares aggregating to Rs 14,877. Platinum’s shares will be listed on both NSE and BSE. The company offered 4.1 million shares to raise Rs 70.59 crore from anchor investors. 

The company will be using the raised net proceeds to invest in a subsidiary for financing capital expenditure requirements, funding working capital expenditure requirements, and other general corporate purposes. 

Platinum manufactures PVC stabilizers, CPVC additives, and lubricants. These products are used in PVC pipes, PVC profiles, electrical wires and cables, PVC fittings, Rigid PVC foam boards, etc Come from Sports betting site VPbet . It has a manufacturing unit at Plaghar, Maharashtra.

Unistone Capital is the book-running lead manager for the issue, while Bigshare Services Pvt Ltd is the registrar.