Platinum Industries Soars on Debut, Closing at ₹221 on NSE

5 Mar 2024 , 06:13 AM

Today’s closing of Platinum Industries’ share price on the bourses was promising. The closinging price of Platinum Industries shares on the NSE was ₹221.2, which was 29% more than the ₹171 issue price. With a 29% increase over the issue price, Platinum Industries’ share price started today on the BSE at ₹228 per share.

Experts predicted that the share price of Platinum Industries would list between ₹245 and ₹259 per share.

The IPO of Platinum Industries was well received. Because of the great reaction from retail and non-institutional investors (NIIs), the issue was fully booked within the first hour of its launching on the first day.

According to BSE data, the Platinum Industries IPO subscription status on the third day was 99.03 times. The retail portion of the Platinum IPO received 50.99 subscriptions, the NII portion 141.83 bookings, and the Qualified Institutional Buyers (QIBs) portion 151 bookings.

The initial public offering (IPO) pricing band for Platinum Industries was set at ₹162 to ₹171 per equity share, with a face value of ₹10. 87 equity shares made up the first lot of Platinum Industries’ IPO, and additional lots of 87 equity shares were issued thereafter.

It set aside a minimum of 15% of the shares for Non Institutional Investors (NII), a maximum of 50% of the shares for Qualified Institutional Buyers (QIB), and a minimum of 35% of the offer for Retail Investors.

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