All Time Plastics' IPO Sees Overwhelming Response with 834% Subscription
All Time Plastics Ltd's initial public offering (IPO) was oversubscribed by 8.34 times. The heightened interest saw bids for over 8.7 million shares, compared to 1.05 million available. Non-Institutional Investors and Qualified Institutional Buyers showed significant interest, with 13.47 and 10.15 times subscriptions respectively. Funds will be used for growth initiatives.
- Country:
- India
All Time Plastics Ltd received a remarkable response for its IPO, achieving 8.34 times subscription, according to data from the NSE. The company received bids for 8,79,56,712 shares against 1,05,46,297 shares available.
Non-Institutional Investors were particularly enthusiastic, with their segment being oversubscribed 13.47 times, while Qualified Institutional Buyers and Retail Individual Investors subscribed 10.15 and 5.14 times, respectively. Anchor investors have already poured in Rs 120 crore.
Priced between Rs 260-275 per share, the IPO aims to raise Rs 401 crore. Proceeds from the fresh equity issuance will be allocated for machinery acquisition, debt repayment, and expansion projects. The company's stock market debut is scheduled for August 14.
(With inputs from agencies.)
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