All Time Plastics IPO: GMP at 9%, subscribed 14% on Day 1. Should you subscribe? Check key details

All Time Plastics launched its Rs 401 crore IPO for subscription today, August 7. In the grey market, the shares are trading at a 9% premium over the issue price of Rs 275. The IPO received a moderate response from investors during the initial hours of the first day. According to stock exchange data, by 11:45 AM on Day 1, the issue was subscribed 14% overall. The subscription period will close on August 11, 2025, giving investors a total of three days to place their bids for the IPO shares.

All Time Plastics IPO GMP today

The last Grey Market Premium (GMP) for All Time Plastics' IPO was Rs 25. This means the shares are trading at a premium of approximately 9% over the issue price of Rs 275. Based on this premium, the estimated listing price of the IPO is around Rs 300.

All Time Plastics IPO Subscription Status

The Initial Public Offering (IPO) of All Time Plastics received a moderate response from investors during the early hours of Day 1. According to data available on the stock exchanges, the IPO was subscribed 14% overall by 11:45 AM – Day 1.

Among the various investor categories, Retail Individual Investors (RIIs) showed a relatively stronger early interest, subscribing to 24% of the 52.92 lakh shares allocated to them.

The Non-Institutional Investors (NIIs), which include high net-worth individuals and corporate entities, subscribed to 9% of their allotted 22.68 lakh shares. While this may seem like a slower response, it aligns with common market behavior where NIIs often wait to gauge overall demand before committing larger bids.

In the case of Qualified Institutional Buyers (QIBs), there were no bids placed as of the reporting time for the 29.49 lakh shares reserved for this segment. However, this is not unusual, as institutional investors typically place bulk bids closer to the closing day of the IPO, once the market response becomes clearer.

All Time Plastics IPO Price Band and Other Details

The company has set a price band of Rs 260–275 per share, and the shares are set to list on both the BSE and NSE on August 14.

The IPO comes on the back of All Time Plastics’ five-decade journey as a trusted contract manufacturer of plastic consumerware products.

Known for supplying to global retail giants like IKEA, Tesco, Asda, and Michaels, the company is now looking to expand its footprint by significantly scaling capacity and strengthening its branded portfolio in the domestic market.

The company operates on a predominantly B2B model but has steadily diversified into the B2C segment under its in-house “All Time” brand. Its current SKU count stands at 1,848 products across categories like kitchenware, bathware, storage containers, and child-friendly items.

Three manufacturing units located in Daman, Silvassa, and Manekpur contribute to an installed capacity of 33,000 TPA as of FY25.

The IPO proceeds will be used for repaying debt (Rs 143 crore), purchasing new machinery for the Manekpur facility (Rs 113.7 crore), and meeting working capital and general corporate requirements. The planned expansion is expected to enhance manufacturing efficiency and support increasing demand from both global and domestic clients.

All Time Plastics Financials

From FY23 to FY25, All Time Plastics has demonstrated consistent financial growth. Revenue rose from Rs 443 crore to Rs 558 crore, while PAT improved from Rs 28 crore to Rs 47 crore. EBITDA margin improved to 18.12% in FY25, and return on equity stood at 19.01%. At the upper end of the price band, the stock is valued at a P/E of 30.52x and P/B of 5.80x.

Should You Subscribe?

Analysts suggest a ‘Subscribe’ rating for investors with a medium to long-term horizon. "The company’s robust export presence, long-standing client relationships, strong margin profile, and upcoming capacity expansion support its growth outlook. Compared to peers like Shaily Engineering (P/E 78.93x) and Cello World (P/E 38.18x), All Time Plastics appears reasonably valued," said Canara Bank Securities.

However, risks such as lack of long-term supply agreements with clients, raw material price volatility, and pricing pressure from global retailers should be noted.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)