Baring Private Equity takes biggest pie in Platinum Industries anchor book
Baring Private Equity subscribed to nearly 35% of the Rs 70-crore anchor book of stabilisers manufacturer Platinum Industries. According to the stock exchange disclosure, the company allotted 14,62,035 shares to Baring Private Equity India AIF II at Rs. 171 per share.
The investment philosophy of the Baring Group is rooted in partnership with their clients, aiming to deliver customised private equity and real assets solutions. As of December 31, 2023, Barings Group manages assets under management (AUM) totalling $ 6.05 billion.
Platinum Industries' Rs. 235 crore IPO is scheduled to list on BSE and NSE on Tuesday, March 5, 2024. The public issue of Platinum Industries was oversubscribed 98.71 times last week. The qualified institutional buyer portion was oversubscribed 151 times, while the non-institutional investors portion was oversubscribed 141.68 times, and the retail portion was oversubscribed 50.41 times.
Unistone Capital Private Limited is the sole book-running lead manager of this issue. Platinum Industries' business segment includes PVC stabilizers, CPVC additives, and lubricants, operating within the speciality chemicals industry.
