Platinum Industries IPO subscribed 22.19 times on second day of offer

The initial public offering of Platinum Industries got subscribed 22.19 times on the second day of offer on Wednesday.

The Rs 235 crore-initial share sale received bids for 21,37,42,644 shares against 96,32,988 shares on offer, as per NSE data.

The portion for non-institutional investors fetched 42.85 times subscription while the Retail Individual Investors (RIIs) part got subscribed 25.50 times. The category for Qualified Institutional Buyers (QIBs) received 90 per cent subscription.

The Initial Public Offering (IPO) has a fresh issue of up to 1,37,61,225 equity shares. The price range is Rs 162-171 a share.

Platinum Industries has mobilised over Rs 70 crore from anchor investors.

It is a multi-product company, is engaged in the business of manufacturing stabilisers.

Unistone Capital is the manager to the offer.