Key things to know about Platinum Industries IPO

Platinum Industries is India’s third largest PVC stabilizer player in terms of sales, with a ~13% market share in FY23. PVC stabilizers produce polyvinyl chloride (PVC) based products, which have applications in manufacturing PVC pipes, PVC profiles, PVC fittings, electrical wires and cables.

Between FY21 and FY23, it saw a CAGR rise of 37% in its revenue from operations and 98% in its profit. Furthermore, it also posted strong operational performance with a rising EBITDA margin of 8%, 13%, 23% and 26% in FY21, FY22, FY23 and Q2 FY24, respectively.

Additionally, the Indian specialty chemical industry is expected to grow at a CAGR of 8% between FY23 and FY26, which could benefit the company.

Platinum Industries plans to raise ₹234 crore through the IPO. The public offer is entirely a fresh issue. The price band for the issue has been fixed at ₹162-171 per share. The lot size for this IPO is 87 equity shares; investors can bid in multiples of 87 shares.

The IPO proceeds will be utilised for setting up manufacturing facilities in Egypt and Palghar and to fund working capital requirements, general corporate purposes.