Platinum Ind debuts with 33% premium

New Delhi: Shares of Platinum Industries on Tuesday listed with a premium of over 33 per cent against the issue price of Rs171. The stock opened the trade at Rs228, up 33.33 per cent on the BSE.

It later jumped 38.59 per cent to Rs237. It listed at Rs225, a gain of 31.57 per cent from the issue price on the NSE. The firm is a multi-product company engaged in the business of manufacturing stabilisers.

The company’s market valuation stood at Rs1,241.30 crore. Platinum Industries’ initial public offering got subscribed 98.99 times on the closing day of subscription on Thursday. The Rs235 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.