The stock market in India is attracting a lot of investors. Many people are now choosing investing in stocks as their primary form of investment. This is mainly because the market offers great returns but also involves a lot of risk. So, it is important to do the right research before making any investments, as the market is quite volatile. In recent times, a lot of IPOs have also come up. An initial public offering is a public offering in which shares of a company are sold to institutional investors and usually also to retail investors. The latest company that is all set to launch its IPO is Platinum Industries.

Platinum Industries is a stabiliser manufacturing company that will open on February 27. Investors will be able to bid for the shares of this issue until February 29. As per the information available on the NSE website, the price band of this upcoming IPO has been fixed at Rs 162 to Rs 171 per equity share. It has also been found that around 35 per cent of the Platinum Industries IPO is reserved for retail investors, 15 per cent for qualified institutional buyers and 15 per cent for non-institutional investors (NII).

It has also been reported that the company will have no sale through an offer for sale (OFS) and will only focus on fresh equity shares. The company will go public to raise Rs 235.32 crore. Apart from that, ahead of the Platinum Industries IPO date of subscription opening, the company is enjoying a bullish run in the grey market. As per reports, the grey market price (GMP) of the company on February 26 was Rs 80.

Platinum Industries operates in the speciality chemicals sector. Its products include PVC stabilisers, CPVC additives and lubricants, PVC fittings, electrical lines and cables, SPC floor tiles, and packaging materials. There is currently no domestic firm registered that makes PVC stabilisers or CPVA additions. In the fiscal year 2023, the company’s total income climbed by 23 per cent on an annual basis (YoY) to Rs 232 crore. During the same year, net profit climbed by 112 per cent to Rs 37.5 crore.