All Time Plastics IPO: GMP today
The latest Grey Market Premium (GMP) for All Time Plastics’ IPO stood at Rs 25, indicating that the shares are trading at roughly a 9% premium over the issue price of Rs 275. Based on this premium, the expected listing price is estimated to be around Rs 300.
All Time Plastics IPO: Subscription Status
The Initial Public Offering (IPO) of All Time Plastics drew a moderate response from investors on Day 2. As per data available on the stock exchanges, the overall subscription stood at 35% as of 10:05 AM.
Retail Individual Investors (RIIs) showed relatively stronger early interest, subscribing to 55% of the 52.92 lakh shares allocated to them.
Non-Institutional Investors (NIIs)—comprising high net-worth individuals and corporate entities—subscribed to 33% of their 22.68 lakh share quota. While this may appear to be a slower uptake, it reflects a common market trend where NIIs often wait to assess broader demand before placing larger bids.As for Qualified Institutional Buyers (QIBs), no bids had been recorded for their reserved 29.49 lakh shares at the time of reporting. However, this is typical, as institutional investors usually enter late in the bidding process after evaluating overall market sentiment.
All Time Plastics IPO price band and other details
The IPO comes on the back of All Time Plastics’ five-decade journey as a trusted contract manufacturer of plastic consumerware products.
Known for supplying to global retail giants like IKEA, Tesco, Asda, and Michaels, the company is now looking to expand its footprint by significantly scaling capacity and strengthening its branded portfolio in the domestic market.
The company operates on a predominantly B2B model but has steadily diversified into the B2C segment under its in-house “All Time” brand. Its current SKU count stands at 1,848 products across categories like kitchenware, bathware, storage containers, and child-friendly items.
Three manufacturing units located in Daman, Silvassa, and Manekpur contribute to an installed capacity of 33,000 TPA as of FY25.
The IPO proceeds will be used for repaying debt (Rs 143 crore), purchasing new machinery for the Manekpur facility (Rs 113.7 crore), and meeting working capital and general corporate requirements. The planned expansion is expected to enhance manufacturing efficiency and support increasing demand from both global and domestic clients.
All Time Plastics Financials
From FY23 to FY25, All Time Plastics has demonstrated consistent financial growth. Revenue rose from Rs 443 crore to Rs 558 crore, while PAT improved from Rs 28 crore to Rs 47 crore. EBITDA margin improved to 18.12% in FY25, and return on equity stood at 19.01%. At the upper end of the price band, the stock is valued at a P/E of 30.52x and P/B of 5.80x.
Also read: Varmora Granito files IPO papers with Sebi; eyes Rs 400 cr via fresh issue
Should You Subscribe?
Analysts suggest a ‘Subscribe’ rating for investors with a medium to long-term horizon. “The company’s robust export presence, long-standing client relationships, strong margin profile, and upcoming capacity expansion support its growth outlook. Compared to peers like Shaily Engineering (P/E 78.93x) and Cello World (P/E 38.18x), All Time Plastics appears reasonably valued,” said Canara Bank Securities.
However, risks such as a lack of long-term supply agreements with clients, raw material price volatility, and pricing pressure from global retailers should be noted.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)