All Time Plastics share price made a strong stock market debut on Thursday, August 14. The stock listed at ₹314.30 apiece at BSE and ₹311.30 at NSE, which is nearly 14 per cent premium over the IPO price of ₹260-275 per share.
The company’s market capitalization was ₹2,058.91 crore. All Time Plastics share price fell over 5 per cent to ₹296.05 apiece after making a strong debut on Indian stock market. All Time Plastics IPO, which opened for bidding from July 25 to 29, was subscribed eight times its offer size. Non-Institutional Investors (NIIs) topped the subscription charts, bidding for their allotted quota nearly 13.5 times. Retail investors subscribed to their share over 5 times, while Qualified Institutional Buyers (QIBs) booked their reserved portion more than 10 times.
Before its listing, the shares of All Times Plastics were trading at 7 per cent premium in the grey market compared to the IPO price of ₹275. The IPO included a fresh issue of 1.02 crore shares worth ₹280 crore and an offer for sale of 0.44 crore shares totaling ₹120.60 crore. Proceeds from the fresh issue will be utilized for purchasing machinery for the Manekpur plant in Gujarat, repaying debt, meeting general corporate expenses, and supporting other expansion initiatives.
All Time Plastics has secured ₹120 crore from anchor investors, with participants including Ashoka India Equity Investment Trust PLC, Canara Robeco Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, 360 ONE Equity Opportunity Fund, Nuvama, and Gagandeep Credit Capital. The merchant bankers for All Time Plastics’ public offering were Intensive Fiscal Services and DAM Capital Advisors, while Kfin Technologies served as the registrar.
News Courtesy : Live Mint.