All Time Plastics IPO subscription status: Check day 2 bidding, latest GMP & more

The initial public offering (IPO) of All Time Plastics continued to see a decent response during the second day of the bidding process from all the categories of the investors, nearing the sail-through mark of 90 per cent. The issue, which kicked off on Thursday, August 07, was overall booked over 30 per cent on day one.

Mumbai-based All Time Plastics is selling its shares in the price band of Rs 260-275 apiece. Investors can apply for a minimum of 54 shares and its multiples thereafter. It is looking to raise Rs 400.60 crore via IPO, which includes a fresh share sale of 280 and an offer-for-sale (OFS) of up to 43,85,562 equity shares worth Rs 120.60 crore.

According to the data, the investors made bids for 93,06,846 equity shares, or 0.88 per cent, compared to the 1,05,46,297 equity shares offered for the subscription by 2.55 pm on Friday, August 08, 2025. The three day bidding for the issue shall conclude on Monday, August 11.

The allocation for retail investors was subscribed 1.25 times, while the portion reserved for non-institutional investors (NIIs) saw a subscription of 67 per cent. The portion for employees was booked 2.80 times. However, the quota set aside for qualified institutional bidders (QIBs) saw bids for 37 per cent as of the same time.

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.

The grey market premium (GMP) of All Time Plastics has remained stable amid the rising volatility and mixed bidding for the issue. Last heard, the company was commanding a premium of Rs 25 per share in the unofficial market, suggesting 9 per cent listing gains for the investors.

Analysts mostly have a positive view on this IPO. They suggest subscribing to this citing its strategic location, demand for the products, long relationships with clients, sound financial and experienced promoters. However, dependence on top customers, competition from unorganized sectors, rise in raw material prices are major concerns for the company.

ATPL’s clientele includes marquee names like Ikea, Marshalls, Tesco amongst others who have strong balance sheets to leverage for expansion in various geographies across the world. It stands to benefit from the ‘China Plus One’ strategy, as more companies seek to diversify their supply chains by adding alternate manufacturing locations outside China, said Nirmal Bang Securities.

“With the company’s capacity expansion and debt reduction plans in place, we believe ATPL should see robust growth in the coming years. At the upper price band, IPO is available at 37 times its FY25 earnings and we recommend ‘subscribe’ to the issue,” it added.

For the financial year ended on March 31, 2025, the company reported a net profit of Rs 47.29 crore with a revenue of Rs 559.24 crore. Its net profit stood at Rs 44.79 crore with a revenue of Rs 515.88 crore for the year 2023-24. The company shall command a total market capitalization of Rs 1,801 crore at the current valuation of the IPO.

All Time Plastics is one of the leading manufacturers of plastic houseware products with the marquee customer base and will benefit from the sector growth, said Master Capital Services.

“It intends to continue to make investments to digitize manufacturing processes, wherever economically viable, to achieve greater manufacturing efficiency and continue to expand plastic homeware product offerings. Investors looking to invest can invest in the IPO for the long term,” it added.

All Time Plastics raised Rs 119.9 crore from 12 institutional investors as it finalised allocation of 43.6 lakh shares at Rs 275 per share. All Time Plastic has reserved 50 per cent of the net offer for qualified institutional bidders, while non institutional investors will have 15 per cent of allocations. Retail investors will get 35 per cent of the allocation in the IPO.

Intensive Fiscal Services and DAM Capital Advisors are the book-running lead managers of the All Time Plastics IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with August 14, Thursday as the tentative date of listing.