How To Check Platinum IPO Allotment Status

Platinum Industries IPO opened for bidding on Tuesday and was fully subscribed within hours of opening. The ₹235.32 crore IPO continued to see robust demand till the final day of bidding getting a subscription of 99 times. The Platinum IPO allotment status is set to be finalised today.

If you applied for the IPO, here is how you can check the Platinum Industries IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Platinum IPO allotment status

  1. Visit the registrar's website.
  2. Click on "Company Selection" and choose "Platinum Industries" from the dropdown menu.
  3. Then you can enter your PAN, application number, or Demat.
  4. Enter the captcha and click Submit to retrieve the Platinum IPO allotment status

Checking IPO Allotment Status on BSE:

  1. Go to the BSE website.
  2. Click on the ‘Equity' section and select "Platinum Industries" from the dropdown menu.
  3. Enter your application number or PAN.
  4. Click on the ‘Search' button.
  5. The result will show the number of shares allotted to you.

If all the details are entered correctly and the allotment has been finalised, the Platinum IPO allotment status will be visible.

Platinum IPO Subscription Status

The IPO witnessed overwhelming demand, with participants across categories subscribing to 95.38 crore equity shares against the IPO size of 96.32 lakh equity shares, resulting in a remarkable subscription rate of 98.92 times.

Qualified institutional buyers led the pack, contributing significantly to the subscription numbers by buying 151 times the allotted quota. Non-institutional investors followed closely, picking 141.82 times the reserved portion. Retail investors also showed strong interest, bidding 50.96 times the part set aside for them.

50% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors, and the remaining 35% is for retail investors.

See Also: Warren Buffett Says His Company Wouldn’t Have Been The Same Without This IIT Grad

Platinum IPO GMP

Platinum Industries IPO GMP is currently reported at around ₹88. It is a dip from the ₹98 reported on Tuesday when the bidding opened. Considering the upper price band of ₹171, shares of the company could list at ₹259, around 51% premium. It's important to note that while IPO GMPs can offer insights into market sentiment regarding an IPO, they shouldn't taken as the sole determinant of the stock's performance upon listing.

Platinum IPO Details

Platinum IPO, comprising entirely of a fresh issue of 1.38 crore shares, is a book-built issue that opened for subscription on February 27 and is set to close on February 29. The price band for the IPO is fixed at ₹162 to ₹171 per share.

Retail investors seeking to participate in the IPO must apply for a minimum lot size of 87 shares, requiring an investment of ₹14,877.

Ahead of the IPO, the company garnered ₹70.6 crore from anchor investors on February 26. Among them, Baring Private Equity India AIF 2 emerged as the largest investor, acquiring 14.62 lakh shares worth ₹25 crore, followed by Elara India Opportunities Fund, which purchased 10.28 lakh shares for ₹17.6 crore.

Platinum Industries specializes in manufacturing and is positioned in the market as a leading player in its segment.

Read Next: Video: When Uber CEO Tried His Hands At Cricket

Market News and Data brought to you by Benzinga APIs

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: NewsIPOsPlatinum Industries