Latest News | Platinum Industries IPO Subscribed 8 Times on Day 1 of Offer

New Delhi, Feb 27 (PTI) The initial public offer of Platinum Industries received 8.04 times subscription on the first day of share sale on Tuesday.

The Rs 235 crore-IPO received bids for 7,74,20,952 shares against 96,32,988 shares on offer, as per NSE data.

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The portion meant for non-institutional investors got subscribed 13.58 times while the Retail Individual Investors (RIIs) quota received 10.21 times subscription. The category for Qualified Institutional Buyers (QIBs) fetched 7 per cent subscription.

The Initial Public Offer (IPO) has a fresh issue of up to 1,37,61,225 equity shares.

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The price range for the offer is fixed at Rs 162-171 a share.

Platinum Industries has mobilised over Rs 70 crore from anchor investors.

Platinum Industries, a multi-product company, is engaged in the business of manufacturing stabilisers.

Unistone Capital is the manager to the offer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)