All Time Plastics share price: Stock makes strong listing on NSE, BSE; here's how much investors gained

All Time Plastics share price: Shares of consumerware products maker All Time Plastics listed at ₹311.30 apiece on the National Stock Exchange (NSE). This reflects a premium of 13.2% over the IPO issue price of ₹275.

On the BSE, it started trading at ₹314.30, up 14.29%.

All Time Plastics share price: Here's how much investors gained

The initial share sale of All Time Plastics had secured 8.34 times subscription, with bids for 8,79,91,542 shares compared to 1,05,46,297 shares on offer, as per NSE data.

Non-institutional investors' part mobilised 13.47 times the subscription, while the portion for qualified institutional buyers (QIBs) got booked 10.15 times. The category for retail individual investors fetched 5.14 times the subscription.

The ₹400.70 crore All Time Plastics IPO had a price band of ₹260 to ₹275 per share. It was a mix of fresh issuance of shares worth up to ₹280 crore and an offer-for-sale of more than 43.8 lakh equity shares aggregating to ₹120.6 crore, at the upper end of the price band, by promoters.

The company intends to utilise funds raised from the fresh issue to acquire machinery for its Manekpur plant in Gujarat, debt clearance, general corporate purposes and other expansion efforts.

All Time Plastics has 14 years of experience in manufacturing plastic consumerware products for everyday household needs. It primarily exports products to retailers in the European Union, the UK, and the US.

In India, it sells through modern trade retailers, super distributors (who supply to distributors), and distributors (who supply to general trade stores).

DAM Capital Advisors and Intensive Fiscal Services were the merchant bankers for All Time Plastics' public issue.