All Time Plastics' IPO: A Strong Market Debut
All Time Plastics Ltd's IPO saw a successful market debut with shares closing 3% above issue price. The company plans to use funds for expansion and debt repayment. The IPO was oversubscribed 8.34 times, highlighting strong investor interest in this consumerware products manufacturer.
- Country:
- India
All Time Plastics Ltd made an impressive debut on the stock market by closing the day 3% above its issue price of Rs 275. The stock initially surged to Rs 314.30 on the BSE, a 14.29% rise, before settling at Rs 283.25 after profit-taking.
The company's market debut on the NSE was similarly robust, with shares listing at Rs 311.30 and finishing at Rs 283.30, reflecting a 3% gain. The firm's market valuation hit Rs 1,855.51 crore, with substantial trading volumes recorded on both exchanges.
The IPO had garnered significant interest, receiving 8.34 times subscription. The Rs 401 crore issuance, including fresh equity and an offer for sale, will fund machinery acquisition, debt repayment, and expansion. With 14 years of experience, All Time Plastics primarily exports to the EU, UK, and US, while also catering to India's domestic market.
(With inputs from agencies.)
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- All Time Plastics
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- consumerware
- BSE
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