Platinum Industries Ltd. Eyes Global Acquisition, To Consider Fundraising to Fuel Expansion
Oct 18, 2024
NewsVoir
Mumbai (Maharashtra) [India], October 18: Platinum Industries Ltd. (BSE: 544134; NSE: PLATIND), a global leader in the manufacturing of PVC and CPVC additives is set to convene a Board of Directors meeting on Thursday, 24th October 2024, in compliance with Securities & Exchange Board of India (SEBI) regulations. The agenda will focus on discussing & authorize exploring strategic global acquisition opportunities and evaluating potential fund-raising initiatives to drive the company's growth and accelerate global expansion. Platinum Industries has achieved a remarkable compound annual growth rate (CAGR) of 31% in revenue from FY 2020-21 to FY 2023-24, all while maintaining a debt-free status and without relying on any debt instruments. This growth highlights the company's strong financial health, establishing it as a cash-rich enterprise.
The fund-raising initiatives will be by way of issue of one or more instruments, including issue of equity shares but not limited to any other convertible securities including warrants, through preferential issues, private placements or any other methods or a combination thereof as may be permitted by applicable laws, which shall be subject to necessary regulatory/statutory approvals and shareholder approvals.
Platinum Industries Ltd. is a premier multi-product company in the speciality chemicals sector, specialising in PVC & CPVC Additives, Metal Soaps and Lubricants. As India's leading PVC stabiliser manufacturer, Platinum supplies to over 30 countries from its ISO 9001:2015 certified facility in Palghar, Maharashtra, strategically located near JNPT Port for efficient import and export operations. The Company's product range includes lead stabilisers, Hybrid™ low lead stabilisers, Highstab™ Ca- Zn/Ca-Org stabilisers, CPVC compounds, CPVC Add Packs, Metal Soaps and various lubricants, which are used in PVC pipes, fittings, profiles, electrical wires and cables, SPC floor tiles, Roofing and packaging materials.
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