Platinum Industries’ IPO oversubscribed 99 times

The initial public offering of Mumbai-based Platinum Industries , which manufactures PVC stabilisers, CPVC additives and lubricants, was subscribed 98.99 times, receiving bids for 94.05 crore equity shares against 96.33 lakh shares on offer. The price band for the IPO was INR 162 to INR 171 per share.While the qualified institutional buyer portion was subscribed 151 times, the non-institutional investors portion was subscribed 141.79 times. The retail portion was subscribed 50.92 times.