The shares of PVC stabiliser manufacturer Platinum Industries made their debut in the market on March 5, starting well below what analysts had predicted and remained at a low level throughout the day. Despite this, many experts recommended holding onto the stock for the medium to long term, pointing out the positive macroeconomic factors, the company’s specialized position in the industry, and its fair valuation.The shares of PVC stabiliser manufacturer Platinum Industries made their debut in the market on March 5, starting well below what analysts had predicted and remained at a low level throughout the day. Despite this, many experts recommended holding onto the stock for the medium to long term, pointing out the positive macroeconomic factors, the company’s specialized position in the industry, and its fair valuation.
When it was listed on the NSE, the stock opened at a premium of 31.6 percent, priced at Rs 225 per share, reaching a high of Rs 236.25 during the day’s trading session. This market capitalization amounted to Rs 892 crore, significantly below the anticipated 50 percent premium over the issue price of Rs 171. It’s worth noting that in the grey market, the IPO shares were trading with a premium of 52-58 percent.