Platinum Industries Shares Surge 29% on Debut
Mar 05, 2024 17:21
Platinum Industries shares closed over 29% higher on their debut trade, exceeding the issue price of Rs 171. The company, a multi-product stabilizer manufacturer, saw strong investor interest.
New Delhi, Mar 5 (PTI) Shares of Platinum Industries on Tuesday ended with a premium of over 29 per cent against the issue price of Rs 171.
The stock opened the trade at Rs 228, up 33.33 per cent on the BSE. During the day, it jumped 38.59 per cent to Rs 237. Shares of the company ended at Rs 220.90 per piece, climbing 29.18 per cent.
On the NSE, the stock listed at Rs 225, a gain of 31.57 per cent from the issue price. It ended at Rs 221.50 apiece, up 29.53 per cent.
The firm is a multi-product company engaged in the business of manufacturing stabilisers.
The company's market valuation stood at Rs 1,213.29 crore.
In volume terms, 4.07 lakh shares of the company were traded on the BSE and over 54 lakh shares on the NSE during the day.
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 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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