All Time Plastics Sets Stage for IPO with Rs 120 Crore from Anchor Investors

All Time Plastics has successfully secured Rs 120 crore from anchor investors as it gears up for its upcoming IPO, scheduled to open for public subscription on August 7.

Key investors include Ashoka India Equity Investment Trust PLC, Canara Robeco Mutual Fund, Bandhan Mutual Fund, and several others, who were allotted a collective 43,60,502 equity shares at Rs 275 each. This move sees the company taking a significant step in its fundraising journey.

The IPO will feature a fresh issuance of Rs 280 crore in equity shares alongside an offer-for-sale of over 43.8 lakh shares by promoters, cumulatively aiming to garner Rs 401 crore. The raised capital is earmarked for acquiring new machinery, repaying debts, and pursuing expansion projects.

(With inputs from agencies.)