All Time Plastics lists at 14% premium after 8x IPO subscription

All Time Plastics Listing: Shares of All Time Plastics Ltd made a solid debut on Indian stock exchanges today, listing at a premium of over 14 per cent following strong investor demand for its initial public offering (IPO). The stock opened at ₹314.30 on the Bombay Stock Exchange (BSE), compared to the IPO price of Rs 275 per share. On the National Stock Exchange (NSE), it began trading at Rs 311.30, a gain of 13.2 per cent.

The company’s IPO, which was open for bidding from July 25 to July 29, was subscribed 8 times overall, reflecting strong investor interest. Non-Institutional Investors (NIIs) led the rally, subscribing 13.5 times their allotted portion. Qualified Institutional Buyers (QIBs) and Retail Investors also showed robust demand, subscribing over 10 times and 5 times, respectively.

Ahead of the listing, shares of the company were trading in the unlisted market with a grey market premium (GMP) of over 7 per cent, indicating bullish sentiment from investors.

IPO Details

The IPO comprised a fresh issue of 1.02 crore shares worth Rs 280 crore and an offer for sale (OFS) of 0.44 crore shares aggregating to Rs 120.6 crore. All Time Plastics also raised Rs 120 crore from anchor investors including Ashoka India Equity Investment Trust PLC, Canara Robeco Mutual Fund, Bandhan MF, Edelweiss MF, and others.

The company has earmarked the proceeds from the fresh issue to fund machinery acquisition for its Manekpur plant in Gujarat, debt repayment, general corporate purposes, and business expansion plans.

Financials and Business Overview

With 14 years of experience in manufacturing plastic consumerware products, All Time Plastics has built a strong export presence, especially in the European Union, UK, and US. In India, it distributes products through modern retail, super distributors, and traditional distributors.

From FY23 to FY25, the company demonstrated impressive growth:

Revenue increased from Rs 443 crore to Rs 558 crore

Profit After Tax (PAT) rose from Rs 28 crore to Rs 47 crore

EBITDA margin improved to 18.12 per cent

Return on Equity (RoE) stood at 19.01 per cent

Market Valuation and Lead Managers

At the time of listing, All Time Plastics was valued at Rs 2,058.91 crore. The IPO was managed by Intensive Fiscal Services and DAM Capital Advisors, with Kfin Technologies serving as the registrar.