IPO
All Time Plastics’ Rs.401-Cr IPO subscribed 8.34 times
The initial public offering (IPO) of Mumbai-based All Time Plastics received bids for 8,79,91,542 shares as against 1,05,46,297 shares on offer, translating to an 8.34 times subscription. The price band was fixed between INR 260 and INR 275 per share.The Non-Institutional Investors (NIIs) category was subscribed 13.47 times, the Qualified Institutional Buyers (QIBs) category, 10.15 times and the Retail Individual Investors (RIIs) category, 5.14 times.The company plans to use the net proceeds from the IPO to repay borrowings of INR 143 crore, purchase equipment and machinery worth INR 113.71 crore for its Manekpur facility, and install an automated storage and retrieval system (ASRS).Post-issue, promoter shareholding in the firm will decline from 90.79% to 69.97%.All Time Plastics is a manufacturer of plastic consumer-ware products for household needs.
For FY24, All Time Plastics had reported about INR 513 crore in Operating Income and about INR 45 crore in PAT.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
