Platinum Industries: From Family Legacy To IPO
Platinum Industries, initially a family-owned business under Krishna's father, Dushyant Rana, underwent a significant transformation in 2016
At the helm of Platinum Industries since 2016, Krishna Dushyant Rana, Chairman and Managing Director envisioned more than just business growth. The journey was a commitment to redefine the PVC industry in India, transitioning the company from a mere trading entity to a manufacturing powerhouse.
Growth Catalysts
The mission extended beyond profits, focusing on sustainability, positive industry impact, and contributing to India's global reputation. The introduction of lead-free PVC additives marked a groundbreaking move, positioning Platinum Industries at the forefront of environmentally responsible manufacturing.
"In 2016, when I took over the reins at Platinum Industries, I recognised a significant untapped potential within the company,” reveals Rana.
For Rana the motivation behind this journey was two-fold, one was to transform Platinum Industries from a trading entity into a manufacturing powerhouse and to revolutionise the PVC additive market in India.
The journey began with strategic restructuring, operational reforms and a commitment to integrate global best practices. "By investing heavily in research and development, we pioneered lead-free PVC additives, challenging the conventional options. This groundbreaking move not only set Platinum Industries apart but also drove it to the forefront of environmentally responsible manufacturing,” says Rana.
Leap to IPO: A Calculated Risk
Platinum Industries, initially a family-owned business under Krishna's father, Dushyant Rana, underwent a significant transformation when Krishna assumed leadership in 2016. Transitioning from a traditional trading enterprise to a manufacturing powerhouse, Krishna Rana's 17 years of industry experience paved the way for the company's journey towards going public.
The decision to submit a Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) wasn't impulsive. Rana’s move to take the company public was a strategic and well-researched decision, involving consultations with the Book Running Lead Manager (BRLM) to navigate regulatory complexities and assess risks associated with pre-IPO placements.
The Power of Resilience
Turning setbacks into opportunities for growth and innovation has become a guiding principle in steering Platinum Industries toward continuous success and innovation. "The dynamic landscape of entrepreneurship demands a resilient mindset, and this understanding has become a guiding principle in steering Platinum Industries toward continuous success and innovation,” believes Rana.
"A profound lesson in entrepreneurship that resonates deeply is the importance of resilience," confides Rana.
Plans For 2024
Platinum Industries is poised for a dynamic and impactful trajectory in 2024, characterised by global expansion, innovation, and a steadfast commitment to excellence and sustainability.
Rana shares, “We are set to increase our production capacity, facilitating entry into the promising Egyptian market and exploring opportunities across other international arenas.”
This two-phase project involves a substantial initial investment of USD 6 million, with a subsequent commitment ranging from USD 6 million to USD 8 million in the second phase. Ambitious growth plans, fuelled by innovation and strategic initiatives, underline Platinum Industries' commitment to excellence.
