All Time Plastic IPO day 3: GMP, subscription status, review, other details. Apply or not?
On August 6, All Time Plastics raised ₹ 119.9 crore from 12 institutional investors in its anchor book. The anchor investors 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.
Around 50 per cent of the total offering is reserved for qualified institutional buyers, 35 per cent is set aside for retail investors, and the remaining 15 per cent is allocated to non-institutional investors.
With over 14 years of expertise in manufacturing everyday plastic consumer products, All Time Plastics primarily exports to retailers across the European Union, the UK, and the US. In the domestic market, the company distributes its products through modern trade retailers, super distributors (who supply to distributors), and distributors catering to general trade stores.
All Time Plastic IPO was subscribed over 1.02 times by the end of the second day of bidding on August 8. The mainboard IPO has so far received 1,07,80,074 shares against offered 1,05,46,297, as of 5 pm on Friday, August 8.
The retail portion was booked 1.44 times on the second day, meanwhile, Non-Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs) were subscribed over 0.85 and 0.37 times.
All Time Plastic IPO grey market premium (GMP) is +12. This means that the shares of All Time Plastic IPO is currently trading at a premium of ₹ 12 in the grey market, according to investorgain.com.
Based on the upper limit of the IPO price band and the prevailing premium in the grey market, All Time Plastics shares are expected to list at around ₹ 287 each — a 4.36 per cent gain over the IPO price of ₹ 275.
Grey market trends over the last six sessions indicate an upward movement in the IPO's GMP today, pointing towards a strong debut. As per investorgain.com experts, the GMP has ranged from a low of ₹ 0 to a high of ₹ 25.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
The All Time Plastics IPO includes a fresh equity share issue worth ₹ 280 crore by the company, along with an offer for sale of over 43.8 lakh shares from the promoters, valued at ₹ 120.6 crore at the upper price band.
The IPO price band is set between ₹ 260 and ₹ 275 per share, bringing the total issue size to ₹ 401 crore.
Proceeds from the fresh issue will be used for purchasing machinery for the company's Manekpur facility in Gujarat, repaying debt, meeting general corporate needs, and funding various expansion plans.
Intensive Fiscal Services and DAM Capital Advisors are acting as the merchant bankers for All Time Plastics' public issue.
Anshul Jain, Head of Research at Lakshmishree Investment, while giving 'subscribe for long-term' rating, said that the All Time Plastics IPO is set to IPO with a strong focus on design-led and sustainable products.
' Its established relationships with global retail giants and strong brand presence in the domestic market give it a competitive edge. The IPO aims to fund significant expansion and automation, strengthening its manufacturing capabilities for future growth. However, a closer look reveals the company's dependency on volatile raw material prices (polypropylene and polyethene), which can impact profitability. The company also faces risks from intense competition and a dynamic consumer market. Despite these challenges, All Time Plastics Ltd.'s strong brand, strategic growth plans, and alignment with modern consumer preferences for quality and sustainability make it an attractive long-term play. Verdict: Subscribe for the long term,' Jain added.
Meanwhile, Gaurav Goel, Founder & Director at Fynocrat Technologies also gave ' subscribe for long-term' tag said, ' All Time Plastics combines a strong global export footprint with steady financial performance, robust return ratios, and expanding product lines. The IPO valuations appear moderate relative to peers, with a P/E of ~30.5x and EV/EBITDA of ~19x, supported by margins above 18% and a RoNW of 19%. The IPO offers investors an opportunity to participate in a growing consumer exports franchise with efficient operations and a reasonable valuation compared to listed peers.'
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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