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Platinum Industries, which was incorporated in August 2016, specialises in producing stabilizers. The company manufactures PVC stabilizers, CPVC additives and lubricants.
Zenith Drugs, which was entirely a fresh equity issue of 51.48 lakh shares, received a healthy response from investors. The issue was subscribed 179 times, driven by strong interest across categories. The net proceeds will be used for the purchase of machinery and setting up a new plant, existing manufacturing block upgradation, working capital requirements, and general corporate purposes.
Platinum Industries IPO received Rs 70.59 crore from anchor investors. Analysts recommend subscribing due to strong financial record. The company plans to utilize net proceeds for investment in Platinum Stabilizers Egypt, capex requirements, and has strong R&D capabilities. It is a multi-product manufacturing company with sales across India and international markets.
Platinum Industries IPO GMP: Platinum Industries IPO is completely a fresh equity issue of 1.37 crore shares. The company plans to raise around Rs 235 crore through the issue. Net proceeds will be utilised for investment in Platinum Stabilizers Egypt, financing capex requirements, working capital, and general corporate purposes.
Interiors and More shares listed on NSE SME platform with a 19% premium. IPO received over 11.22 times subscription. Proceeds used for debt repayment and working capital. Revenue in FY23 was Rs 24.85 crore from sales of artificial flowers and plants. Company manufactures decorative items.