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Investors are showing remarkable enthusiasm towards the Platinum Industries IPO, as evident from its subscription status on the third day of bidding. According to data from the Bombay Stock Exchange (BSE) at 12:54 IST, the subscription status stands at an impressive 36.89 times.
Day Three Overview
- On the third day, the subscription status of Platinum IPO’s retail segment reached 36.84 times, indicating a robust response from individual investors.
- A noteworthy subscription of 80.60 times was observed for the Non-Institutional Investors (NII) portion, indicating a strong interest from high-net-worth individuals.
- Qualified Institutional Buyers (QIBs) also showed considerable interest, with their portion being subscribed 4.18 times.
Continued Momentum
The positive response to Platinum Industries IPO has been consistent since its launch. On the second day of subscription, the IPO garnered significant traction with a subscription status of 22.22 times.
- Retail investors continued to show enthusiasm with a subscription rate of 25.56 times.
- The NII portion saw robust demand, being subscribed to 42.88 times.
- QIBs demonstrated strong interest, with their portion being booked at 90%.
Initial Surge
Platinum Industries IPO witnessed a remarkable start, being fully subscribed within the first hour of its opening. This initial surge was driven by a strong response from both retail investors and non-institutional investors (NIIs).
- The overall subscription status on the opening day stood at an impressive 8.06 times.
- Retail investors showed significant interest, subscribing 10.26 times.
- NIIs also participated actively, with their portion being booked 13.60 times.
- QIBs showed early interest, with their portion being booked at 7%.
Key Details of Platinum Industries IPO
The Platinum Industries IPO opened for bidding on Tuesday, February 27, and is scheduled to close on Thursday, February 29. Prior to its public offering, the IPO raised Rs. 70.59 crore from anchor investors on Monday, February 26.
- The price band for the IPO has been fixed at Rs. 162 to Rs. 171 per equity share, with a face value of Rs.10 each.
- The lot size for Platinum Industries IPO is 87 equity shares, with multiples of 87 equity shares thereafter.
- The allocation of shares in the public issue is structured to reserve not more than 50% for qualified Institutional Buyers (QIBs), not less than 15% for non-institutional investors (NIIs), and not less than 35% for Retail Investors.
Read also: Platinum Industries IPO: Strong Subscription Momentum on Day 2
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