All Time Plastics raises Rs 120 crore via anchor book, ahead of Rs 401-crore IPO

All Time Plastics IPO

Plastic consumerware products maker All Time Plastics has raised Rs 119.9 crore from 12 institutional investors via anchor book on August 6, a day before the Rs 401-crore IPO opening.

The initial public offering (IPO), which comprises of fresh issuance of shares worth Rs 280 crore, and an offer-for-sale of 43.85 lakh shares by promoters, will open for subscription on August 7 and close on August 11. The price band for the offer is Rs 260-275 per share.

The ace investor Sunil Singhania's Abakkus-backed Mumbai-based company that earned maximum business through white label products said it has finalised allocation of 43.6 lakh shares to anchor investors at Rs 275 per share.

Investors like Ashoka India, ABSL Umbrella Ucits Fund, Canara Robeco MF, Bandhan Mutual Fund, Abakkus Asset Manager, 360 ONE Equity Opportunity Fund, Edelweiss, Nuvama, and Gagandeep Credit Capital participated in the anchor book.

"Out of the total allocation of 43.6 lakh shares to the anchor investors, 15.26 lakh shares were allocated to 3 domestic mutual funds which applied through their four schemes," All Time Plastics in its filing to exchanges said.

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The company that seeks valuation of over Rs 1,800 crore will utilise Rs 143 crore of fresh issue proceeds for repaying debt, Rs 113.7 crore for purchase of equipment and machinery for its Manekpur facility, and the remainder funds for general corporate purposes.

Apart from white-label manufacturing business that contributed 91.66 percent to revenue in FY25, All Time Plastics also sells its consumerware products under its proprietary brand name.

Intensive Fiscal Services, and DAM Capital Advisors are acting as the merchant bankers for the All Time Plastics IPO.