All Time Plastics IPO Subscribed 62% On Day 2— Check GMP
The All-Time Plastics IPO has been subscribed 0.62 times or 62% as of 12:33 p.m. on Friday.
All Time Plastics Ltd.'s initial public offer was subscribed 62% so far on second day. The IPO was subscribed 0.29 times on the first day on Thursday.
The IPO is a book-built issue worth Rs 400.6 crore. It comprises a fresh issue of 1.02 crore shares, totaling Rs 280 crore, and an offer for sale of 44 lakh shares, amounting to Rs 120.6 crore.
The company is a leading manufacturer of plastic houseware products. Swedish furniture giant Ikea is among its major clients.
While most of its business comes from supplying consumerware to other brands, it also sells products directly to consumers under its own label, All Time Branded Products.
Use Of Proceeds
All Time Plastics plans to use the funds raised from the IPO for a few purposes. A portion will go towards repaying or prepaying some of its existing borrowings. The remaining funds will be used for general corporate needs.
All Time Plastics Subscription Details
The All-Time Plastics IPO has been subscribed 0.62 times or 62% as of 12:33 p.m. on Friday.
Qualified Institutions: Nil
Non-Institutional Buyers: 0.52 times or 52%.
Retail Investors: 0.98 times or 98%.
Employee portion: 2.55 times
GMP Indicates Over 9% Listing Gain
The grey market premium of All Time Plastics was at Rs 25 as of 11:37 a.m. on InvestorGain website. The GMP price indicated 9.09% listing gain as indicated by the implied listing price of Rs 300.
