All Time Plastics IPO Listing: Shares List At 14% Premium Over Issue Price; Details Here

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On the BSE, All Time Plastics' shares open at Rs 314.30, marking a 14.29 per cent gain, and later rose as much as 17.14 per cent to Rs 322.15.
All Time Plastics IPO Listing: Shares of consumerware products maker All Time Plastics Ltd made a decent debut on Thursday, listing with a premium of more than 14 per cent over the issue price of Rs 275. On the BSE, the stock opened at Rs 314.30, marking a 14.29 per cent gain, and later rose as much as 17.14 per cent to Rs 322.15. However, the stock cooled from the day's high and was trading at Rs 295.1 as of 11:27 am, which is 7.3 per cent higher than the issue price.
On the NSE, it began trading at Rs 311.30, up 13.2 per cent from the issue price. The company's market capitalisation stood at Rs 1,976.37 crore.
The Rs 401-crore initial public offering (IPO) had received 8.34 times subscription by the close of bidding on Monday. The price band was fixed at Rs 260–Rs 275 per share. The offer comprised a fresh issue of equity shares worth up to Rs 280 crore and an offer for sale of over 43.8 lakh shares valued at ₹120.6 crore, at the upper end of the price band, by the promoters.
Proceeds from the fresh issue will be used for acquiring machinery for the company's Manekpur plant in Gujarat, repaying debt, funding general corporate needs, and supporting expansion plans.
With 14 years in the business, All Time Plastics manufactures plastic consumerware for everyday household use. The company primarily exports to major retailers in the European Union, the UK, and the US, while in India, it sells through modern trade channels, super distributors, and distributors catering to general trade outlets.
The IPO was 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 Rs 120.6 crore, at the upper end of the price band, by promoters. This takes the total issue size to Rs 401 crore.
All Time Plastics garnered Rs 120 crore from anchor investors, ahead of the IPO.
Intensive Fiscal Services and DAM Capital Advisors are the merchant bankers for All Time Plastics' public issue.
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