All Time Plastics' IPO To Open On Aug. 7; sets Price Band At Rs 260-275 Per Share

Consumerware products maker All Time Plastics on Monday fixed a price band of Rs 260 to Rs 275 per share for its Rs 401-crore initial public offering.

The initial share-sale will be open for public subscription on August 7 and conclude on August 11, the company announced.

At the upper-end of the price band, the company is valued over Rs 1,800 crore.

The IPO is a combination of fresh issuance of equity shares worth up to Rs 280 crore by the company, and an offer-for-sale of over 43.8 lakh equity shares valued Rs 120.6 crore, at the upper-end of the price band, by promoters. This takes the total issue size to Rs 401 crore.

The company plans to utilise funds raised from fresh issuance for acquiring machinery for its Manekpur plant in Gujarat, payment of debt, general corporate purposes and other expansion efforts.

Half of the issue size has been reserved for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.

All Time Plastics has 14 years' experience of 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.

Intensive Fiscal Services and DAM Capital Advisors are the merchant bankers for All Time Plastics' public issue. The company is expected to list on the stock exchanges on August 14.