All Time Plastics IPO: The initial public offering (IPO) of All Time Plastics was off to a slow start on Thursday, August 7. The mainboard IPO, worth ₹ 400 crore, will close for bidding on August 11.
All Time Plastics IPO is a mix of fresh share sale of ₹280 crore and an offer for sale (OFS) of ₹120.60 crore. The price band for the issue is set at ₹260 to ₹275 apiece.
The company plans to use the funds raised from the fresh share sale for repayment of all or a portion of certain outstanding borrowings availed by the company, purchase of equipment and machinery for its facility and general corporate purposes.
Investors can apply for the All Time Plastics IPO in the lot size of 54 shares and in multiples thereof.
Many brokerages had bullish views on the IPO. Anand Rathi, Canara Bank Securities, SBI Capital, and Ventura suggest applying for the offer.
“At the upper price band company is valuing at P/E of 36.1x to its FY25 earnings, with EV/EBITDA of 19.8x and market cap of ₹ 18,013 million post issue of equity shares. We believe that the IPO is fully priced and recommend a “Subscribe – Long Term” rating to the IPO,” Anand Rathi said.
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.
Intensive Fiscal Services Private Limited is the book-running lead manager of the All Time Plastics IPO, while Kfin Technologies Limited is the registrar for the issue.
All Time Plastics IPO Subscription Status
All Time Plastics IPO was subscribed 35% at the end of the first day of bidding on Thursday. The retail portion was booked 55%, the NII portion 33%. The QIB portion did not receive any bids today= The employee portion of the IPO, meanwhile, was subscribed 1.87 times.
Overall, investors applied for 37,21,194 shares as against 1,05,46,297 shares of offer.
All Time Plastics IPO GMP
All Time Plastics IPO grey market premium was decent, having risen from nil over the last few days. All Time Plastics IPO GMP on Thursday was ₹25. This means that shares of All Time Plastics were trading ₹25 above the issue price in the grey market today.
At the current GMP and issue price, All Time Plastics IPO listing price could be ₹300, a premium of 9.09% over the issue price of ₹275.
However, investors must realise that GMP shouldn’t be their only metric for deciding to invest in an IPO. They should consider the fundamentals and their risk appetite as well.