All Time Plastics IPO: A New Era in Consumerware

The IPO of All Time Plastics Ltd, a leading manufacturer of plastic consumerware products, was off to a promising start on Thursday with a 35% subscription on the first day of bidding.

Data from the NSE shows bids for 37,18,548 shares out of the 1,05,46,297 on offer. Retail Individual Investors took a keen interest with a 55% subscription rate, while non-institutional investors subscribed at 33%.

Having already secured Rs 120 crore from anchor investors, the company's public issue is set to close on August 11, with shares priced between Rs 260-275, valuing the company at over Rs 1,800 crore at the upper band.

The IPO consists of a fresh equity issuance worth Rs 280 crore and an offer-for-sale of 43.8 lakh shares, yielding a total issue size of Rs 401 crore. The funds will bolster All Time Plastics' expansion, machinery acquisition, and debt repayment.

With expertise spanning 14 years, the company's consumerware products primarily serve markets in the EU, UK, and US, although they are also sold through various distribution channels across India.

Intensive Fiscal Services and DAM Capital Advisors are managing the offering, with the stock market debut expected on August 14.

(With inputs from agencies.)