All Time Plastics IPO: GMP drops to 3%; issue booked 1.26x on Day 3. Should you subscribe? Check key details
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All Time Plastics IPO GMP Today: Indicates Mild Positive Sentiment
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All Time Plastics' Rs 401 crore Initial Public Offering (IPO) is witnessing mild investor enthusiasm, with shares currently trading at a 3.3% premium in the grey market over the issue price of Rs 275 on Day 3 of subscription. At its peak, the grey market premium had touched around 9%, suggesting that early excitement has eased, but investors still expect a modest gain at listing.As per stock exchange data, the All Time Plastics IPO was subscribed 1.26 times overall as of 10:12 AM on the third and final day of bidding. The bulk of this demand came from retail investors, who have shown relatively higher interest compared to institutional and high-net-worth segments.The Grey Market Premium (GMP) for All Time Plastics shares currently stood at around Rs 9–10 per share as per the latest updates, reflecting a 3.3% to 3.4% premium over the IPO issue price of Rs 275. This GMP hints at a possible listing of around Rs 284–285.While GMP isn't an official indicator, it often provides insight into market demand and listing expectations ahead of formal trading.As of 10:12 AM on Day 3, the IPO has been subscribed 1.26 times overall, showing a modest level of interestRetail Individual Investors (RIIs) have shown comparatively stronger interest. They have subscribed to 1.44 times the 52.92 lakh shares reserved for them—signalling retail confidence in the issue.The Non-Institutional Investor (NII) segment, which includes high-net-worth individuals and corporates, has subscribed to 85% of its allocated 22.68 lakh shares. This is relatively subdued but could improve as the day progresses.Qualified Institutional Buyers (QIBs) have subscribed to 37% of their 29.49 lakh share quota as of now. All Time Plastics IPO Price Band and Listing DetailsAll Time Plastics has fixed its IPO price band at Rs 260 to Rs 275 per share for its upcoming initial public offering (IPO). Shares of the company are scheduled to be listed on both the BSE and National Stock Exchange (NSE) on August 14.All Time Plastics is a key supplier to major global retail chains such as IKEA, Tesco, Asda, and Michaels.While the company has traditionally operated under a business-to-business (B2B) model, it has gradually diversified into the business-to-consumer (B2C) segment through its in-house brand, "All Time." Currently, it offers a wide range of 1,848 stock-keeping units (SKUs) across product categories such as kitchenware, bathware, storage containers, and child-friendly items.All Time Plastics runs three manufacturing facilities located in Daman, Silvassa, and Manekpur, collectively offering an installed production capacity of 33,000 tonnes per annum (TPA) as of FY25. The IPO proceeds will primarily be utilised to repay outstanding debt worth Rs 143 crore, invest Rs 113.7 crore in new machinery for the Manekpur plant, and meet working capital and general corporate needs. The expansion is expected to enhance manufacturing efficiency and help meet growing demand from both domestic and international clients.The company's financial performance has shown consistent improvement between FY23 and FY25. Revenues increased from Rs 443 crore to Rs 558 crore, while profit after tax (PAT) rose from Rs 28 crore to Rs 47 crore. The EBITDA margin strengthened to 18.12% in FY25, and the return on equity reached 19.01%. Based on the upper end of the IPO price band, the stock is priced at a price-to-earnings (P/E) ratio of 30.52x and a price-to-book (P/B) ratio of 5.80x.According to a report by Canara Bank Securities, All Time Plastics' IPO has been assigned a 'Subscribe' rating, particularly suited for investors with a medium to long-term investment horizon. The brokerage highlights the company's robust export presence, well-established relationships with leading global retailers, healthy margin profile, and planned capacity expansion as key factors supporting its growth trajectory. The report also notes that, when compared to listed peers such as Shaily Engineering (trading at a P/E of 78.93x) and Cello World (P/E of 38.18x), All Time Plastics is reasonably valued at the upper end of its price band.However, the report also cautions investors about certain risks. These include the lack of long-term supply contracts with customers, exposure to raw material price fluctuations, and margin pressure from international retailers.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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