All Time Plastics Bulk Deal: Manish Chokani Buys Stake For Rs 10 Crore
Chokhani mopped up 3.5 lakh shares for Rs 287.11 apiece, amounting to a 0.53% stake in the IKEA-supplier.
Ace investor Vibhav Manish Chokhani acquired shares of recently-listed All Time Plastics Ltd. for Rs 10 crore on Monday.
Chokhani mopped up 3.5 lakh shares for Rs 287.11 apiece, as per NSE bulk deal data. This amounts to a 0.53% stake in the IKEA-supplier.
The company had recently made a notable debut on the stock market as shares listed at a premium of 14% over the IPO price. The scrip opened at Rs 311.3 apiece on the NSE and Rs 314.3 on the BSE. The issue price was Rs 275.
The IPO, which concluded on Aug. 11, raised Rs 400.6 crore from the primary market. It comprised 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 IPO was subscribed 8.62 times, led by demand from non-institutional buyers (14 times) and qualified institutions (10.3 times).
All Time Plastics is a leading manufacturer of plastic houseware products. Swedish furniture giant Ikea is among its major clients.
