All Time Plastics IPO Day 1 Live: Check GMP, subscription status, review, more. Should you apply or not?
On August 6, All Time Plastics secured ₹ 119.9 crore from 12 institutional investors through its anchor book. Participants in the anchor book included Ashoka India, ABSL Umbrella Ucits Fund, Canara Robeco MF, Bandhan Mutual Fund, Abakkus Asset Manager, 360 ONE Equity Opportunity Fund, Edelweiss, Nuvama, and Gagandeep Credit Capital.
Fifty percent of the issue size has been designated for qualified institutional buyers, while 35 percent is allocated for retail investors, and the remaining 15 percent is set aside for non-institutional investors.
All Time Plastics IPO consists of a fresh issuance of equity shares totaling up to ₹ 280 crore by the company, alongside an offer for sale of over 43.8 lakh equity shares worth ₹ 120.6 crore, at the upper end of the price range, from the promoters. This brings the overall size of the issue to ₹ 401 crore.
The company intends to use the funds raised from the fresh issuance for the acquisition of machinery for its Manekpur facility in Gujarat, to pay off debts, for general corporate purposes, and for other expansion efforts.
With 14 years of experience in producing plastic consumerware products for daily household use, All Time Plastics primarily exports its offerings to retailers in the European Union, the UK, and the US. In India, it markets its products through modern trade retailers, super distributors (who supply to distributors), and distributors (who serve general trade stores).
Intensive Fiscal Services and DAM Capital Advisors are serving as the merchant bankers for the public issue of All Time Plastics.
Subscription for the public issue will open at 10:00 IST during Thursday's deals.
According to Anand Rathi, All Time Plastics has established enduring partnerships with international retailers such as IKEA, Asda, Michaels, and Tesco, alongside prominent Indian retail chains. Dedicated to sustainability, the company adheres to a strict policy that eliminates landfill waste, guaranteeing that all operational refuse is recycled, reused, or repurposed, which demonstrates its commitment to environmental stewardship.
At the upper end of the price band, the company is valued at a P/E ratio of 36.1x for its FY25 earnings, with an EV/EBITDA of 19.8x and a market capitalization of ₹ 18,013 million following the issuance of equity shares. They consider the IPO to be fully valued and suggest a 'Subscribe Long Term' rating for the IPO.
Canara Bank Securities noted that with a P/E of 30.52x and P/B of 5.80x for FY25, the valuations seem fair when compared to competitors like Shaily Engineering and Cello World. The brokerage has given a 'SUBSCRIBE' recommendation for well-informed investors who have a medium to long-term investment perspective, supported by the company's operational stability, export leadership, and expected growth driven by capacity expansion.
All Time Plastics IPO grey market premium is +25. This indicates All Time Plastics IPO GMP share price were trading at a premium of ₹ 25 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of All Time Plastics IPO GMP share price was indicated at ₹ 300 apiece, which is 9.09% higher than the IPO price of ₹ 275.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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