About Company’s Business:
The company operates as a diverse manufacturer, specializing in the production of stabilizers. Their product range encompasses PVC stabilizers, CPVC additives, and lubricants. PVC stabilizers, chemical additives used in manufacturing polyvinyl chloride (PVC) based products, enhance performance and durability, preventing PVC degradation under high temperatures. CPVC additives enhance the properties of chlorinated polyvinyl chloride (CPVC) materials. Internal and external lubricants, integral to PVC formulation, are also manufactured. The products cater to various applications, including PVC pipes, profiles, fittings, electrical wires and cables, SPC floor tiles, rigid PVC foam boards, and packaging materials.
About the Industry:
The company operates within the specialty chemicals industry, which had a global valuation of $773 billion in 2022, with a 3.4% Compound Annual Growth Rate (CAGR) from 2016 to 2022. In India, the specialty chemicals industry, constituting around 26% of the overall chemicals industry (excluding pharmaceuticals), reached $29 billion in fiscal 2020. The industry experienced a 6.7% CAGR during fiscals 2015-20, driven by increased domestic demand and exports. However, fiscal 2021 saw a 3.4% on-year decline due to economic slowdown, impacting demand. The industry rebounded in fiscal 2023, reaching $37.9 billion, and is anticipated to achieve $48.1 billion by fiscal 2026, growing at an 8.3% CAGR from 2023 to 2026.
Key Financial Information (â‚ą in million):
| Particulars | For the period ended Sep 30, 2023 | Fiscal 2023 | Fiscal 2022 | Fiscal 2021 |
|---|---|---|---|---|
| Share Capital | 402.53 | 402.53 | 10.53 | 10.53 |
| Net Worth | 850.37 | 618.79 | 223.37 | 44.72 |
| Total Income | 1,237.34 | 2,325.55 | 1,892.38 | 895.30 |
| Restated Profit/(Loss) after tax | 228.35 | 375.84 | 177.48 | 48.15 |
| Basic and Diluted EPS | 5.73 | 9.42 | 4.41 | 1.24 |
| Net Asset Value per Equity Share | 21.13 | 15.37 | 212.20 | 42.48 |
| Total Borrowings | 114.58 | 174.29 | 242.42 | 32.61 |
Objective of the Issue:
- Investment in Platinum Stabilizers Egypt LLC for financing its capital expenditure requirements in relation to the setting up of the Proposed Facility 1
- Funding of capital expenditure requirements of our Company towards setting up of the Proposed Facility 2
- Funding working capital requirements of our Company
- General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Tuesday, February 27, 2024 |
| Close Date | Thursday, February 29, 2024 |
| Issue Size | â‚ą235.32 Crores |
| Price | â‚ą162 to â‚ą171 per share |
| Lot Size | 87 Shares |
| Basis of Allotment | Friday, March 1, 2024 |
| Initiation of Refunds | Monday, March 4, 2024 |
| Credit of Shares to Demat | Monday, March 4, 2024 |
| Listing Date | Tuesday, March 5, 2024 |
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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