All Time Plastics IPO Subscribed 8.34 Times

New Delhi, Aug 11 (PTI) The initial share sale of consumerware products maker All Time Plastics Ltd received 8.34 times subscription on the closing day of bidding on Monday.

The initial public offer (IPO) got bids for 8,79,56,712 shares against 1,05,46,297 shares on offer, as per NSE data.

Non Institutional Investors part attracted 13.47 times subscription while the quota for Qualified Institutional Buyers (QIBs) got subscribed 10.15 times. The portion for Retail Individual Investors (RIIs) garnered 5.14 times subscription.

All Time Plastics on Wednesday said it has garnered Rs 120 crore from anchor investors.

The company's public issue has a price band of Rs 260-275 per share. At the upper end of the price band, the company is valued at over Rs 1,800 crore.


The IPO is a combination of fresh issuance of equity shares worth up to Rs 280 crore by the company, and an offer-for-sale of over 43.8 lakh equity shares valued at Rs 120.6 crore, at the upper end of the price band, by promoters. This takes the total issue size to Rs 401 crore.

The company plans to utilise funds raised from fresh issuance for acquiring machinery for its Manekpur plant in Gujarat, payment of debt, general corporate purposes and other expansion efforts.

All Time Plastics has 14 years of experience in manufacturing plastic consumerware products for everyday household needs. It primarily exports products to retailers in the European Union, the UK, and the US.

In India, it sells through modern trade retailers, super distributors (who supply to distributors), and distributors (who supply to general trade stores).

Intensive Fiscal Services and DAM Capital Advisors are the merchant bankers for All Time Plastics' public issue. The company is expected to list on the stock exchanges on August 14.