Latest News | Platinum Industries IPO Subscribed 98.99 Times on Closing Day of Offer

New Delhi, Feb 29 (PTI) Platinum Industries' initial public offering got subscribed 98.99 times on the closing day of subscription on Thursday.

The Rs 235 crore-initial share sale received bids for 95,35,53,843 shares against 96,32,988 units on offer, according to NSE data.

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The portion for Qualified Institutional Buyers (QIBs) got 151 times subscription, while the quota for non institutional investors received 141.80 times subscription. The part for Retail Individual Investors (RIIs) got subscribed 50.92 times.

The Initial Public Offer (IPO) had a fresh issue of up to 1,37,61,225 equity shares. It had a price range of Rs 162-171 a share.

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Platinum Industries mobilised over Rs 70 crore from anchor investors.

It is a multi-product company engaged in the business of manufacturing stabilisers.

Unistone Capital was 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)