All Time Plastics shares list at 14% premium; HNIs made a profit of Rs 30,000

Shares of All Time Plastics made a decent Dalal Street debut on Thursday, August 14 as the consumerware player was listed at Rs 314.30 on BSE, a premium of 14.29 per cent over its issue price Rs 275 apiece. Similarly, stock was listed with a premium of 13.20 per cent over the given issue price at Rs 311.30 on NSE.

Retail investors, who received a single lot of 54 equity, worth Rs 14,850 made a profit of Rs 2,122.20 on their investment at listing, while HNI investors, who received 14 lots or 756 equity shares made a profit of Rs 29,710.8 for their investment of Rs 2,07,900.

Listing of All Time Plastics has been better than expectations. Ahead of the debut, All Time Plastics was commanding a grey market premium (GMP) of Rs 20 per shares in the unofficial market, suggesting a listing pop of nearly 7-8 per cent for the investors. The GMP stood at Rs 11 when the issue had closed for bidding.

The IPO of Mumbai-based All Time Plastics was open for bidding between August 07 and August 11. It had offered its shares in the price band of Rs 260-275 per share with a lot size of 54 shares. The company raised a total of Rs 400.60 crore via IPO, which included a fresh share sale of 280 crore and an offer-for-sale (OFS) of up to 43,85,562 equity shares worth Rs 120.60 crore.

The issue was overall subscribed 8.34 times fetching over 4.44 lakh applications. The allocation for the qualified institutional bidders (QIBs) was subscribed 10.15 times The portion for non-institutional investors (NIIs) booked 13.47 times. Allocations for retail investors and employees were booked 5.14 times and 7.82 times, respectively.

Established in 1971, Mumbai-based All Time Plastics is an Indian company specializing in the manufacturing of plastic houseware products. It mainly manufactures consumerware for B2B white-label clients, while also offering products under their proprietary brand, ‘All Time Branded Products,’ for B2C customers.

Brokerage firms were mostly positive on the issue, suggesting to subscribe to it for long-term. Intensive Fiscal Services and DAM Capital Advisors were the book-running lead managers of the All Time Plastics IPO, while Kfin Technologies served as the registrar for the issue.