All Time Plastics IPO Day 2 Live: The initial share sale of All Time Plastics Ltd witnessed a bidding rate of 35% on its first day, which took place on Thursday.
The public subscription period for All Time Plastics’ initial share offering commenced on August 7 and is set to end on August 11. All Time Plastics IPO price band has been established between ₹260 and ₹275 per share, resulting in a total offering amount of ₹401 crore.
If priced at the higher end of this range, the company’s valuation exceeds ₹1,800 crore. On August 6, All Time Plastics IPO secured ₹119.9 crore from 12 institutional investors through its anchor book. Participants in the anchor book included Ashoka India, ABSL Umbrella Ucits Fund, Canara Robeco MF, Bandhan Mutual Fund, Abakkus Asset Manager, 360 ONE Equity Opportunity Fund, Edelweiss, Nuvama, and Gagandeep Credit Capital.
Fifty percent of the overall issue is designated for qualified institutional buyers, 35 percent is allocated for retail investors, and 15 percent is reserved for non-institutional investors.
All Time Plastics IPO comprises a fresh issuance of equity shares totaling ₹280 crore by the company, in addition to an offer for sale of more than 43.8 lakh equity shares valued at ₹120.6 crore at the upper price point from the promoters.
This results in a total issue size of ₹401 crore. The capital obtained from the new share issuance will be directed towards acquiring machinery for its Manekpur facility in Gujarat, paying off debts, general corporate expenditures, and various expansion projects.
With 14 years of experience in producing plastic consumer goods for daily use, All Time Plastics mainly exports its products to retailers in the European Union, the UK, and the US. In India, the company sells its products through modern trade retailers, super distributors (who provide supplies to distributors), and distributors (who serve general trade stores).
Intensive Fiscal Services and DAM Capital Advisors are serving as the merchant bankers for the public offering of All Time Plastics.
All Time Plastics IPO Subscription Status
All Time Plastics IPO was subscribed 35% as of 5 pm on the first day of the bidding process. The retail portion was booked 55%, NII portion 33% while the employee quota was booked 1.86 times. QIB portion did not see any bids yet.
All Time Plastics IPO Review
As per Reliance Securities, All Time Plastics is strategically aligned with robust industry expansion and changing global consumption patterns. With its strong export footprint, varied product offerings, and commitment to sustainable production, the company is positioned to take advantage of opportunities both locally and globally. Nonetheless, addressing challenges like reliance on exports, fluctuations in raw material costs, and increasing ESG regulations will be crucial for maintaining long-term value. The brokerage advises – SUBSCRIBE.
As per SBICAP Securities, the firm ranks as the second largest maker of plastic consumer products in India and serves as a proxy for global retailers such as IKEA and Asda. In the future, ATPL plans to increase its current Manekpur capacity from 4,000 TPA in FY25 to 16,500/22,500 TPA in FY26E/FY27E, respectively. Furthermore, the company is anticipated to pay off ₹143 crore of debt using the proceeds from the fresh issue, which will help reduce interest expenses and enhance profitability. The brokerage advises investors to SUBSCRIBE to the issue at the cut-off price.
All Time Plastics IPO GMP today
All Time Plastics IPO grey market premium is +25. This indicates All Time Plastics IPO GMP share price were trading at a premium of ₹25 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of All Time Plastics IPO GMP share price was indicated at ₹300 apiece, which is 9.09% higher than the IPO price of ₹275.
According to the grey market activities observed over the past six sessions, the IPO’s GMP is trending upward today, suggesting a robust listing. The lowest GMP recorded is ₹0.00, while the highest stands at ₹25, as per insights from investorgain.com experts.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
