All Time Plastics shares jump over 14% to Rs 314.20 in market debut trade

New Delhi: Shares of consumerware products maker All Time Plastics Ltd on Thursday listed with a premium of over 14 per cent against the issue price of Rs 275.

The stock started trading at Rs 314.30, a jump of 14.29 per cent from the issue price on the BSE. Later, it surged 17.14 per cent to Rs 322.15.

At the NSE, the stock listed at Rs 311.30, up 13.2 per cent.

The company commanded a market valuation of Rs 1,976.37 crore.

The initial share sale of All Time Plastics Ltd received 8.34 times subscription on the closing day of bidding on Monday.

The Rs 401crore Initial Public Offer (IPO) had a price band of Rs 260-275 per share.

The IPO was 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 at Rs 120.6 crore, at the upper end of the price band, by promoters.

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.

All Time Plastics has 14 years of experience in 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).