Consumerware Leader Steps Into Public Spotlight
Mumbai-based All Time Plastics Ltd, a leading manufacturer of household plastic consumerware, has officially announced the price band for its upcoming initial public offering (IPO) at Rs 260–275 per share. Backed by Abakkus Asset Manager and known for its white-label manufacturing for global retail giants, the company is set to open its maiden public issue for subscription on August 7, 2025. With a strong financial track record and ambitious expansion plans, the IPO is drawing attention from institutional and retail investors alike.
Key Highlights of the IPO Announcement
- Price band fixed at Rs 260–275 per equity share
- IPO opens for subscription on August 7 and closes on August 11
Anchor bidding begins August 6
- Allotment finalization scheduled for August 12; listing on August 14
- IPO comprises a fresh issue of Rs 280 crore and an offer-for-sale (OFS) of 4.39 million shares
- At the upper price band, OFS component estimated at Rs 121 crore
Utilization of Proceeds: Strategic Capital Deployment
Debt Reduction
- Rs 143 crore earmarked for repayment of existing borrowings
- Aims to improve debt-to-equity ratio and enhance financial flexibility
Capacity Expansion and Automation
- Rs 113.7 crore allocated for equipment and machinery at the Manekpur facility
- Investment includes installation of an automated storage and retrieval system (ASRS) to streamline warehouse operations
- General Corporate Purposes
- Remaining funds to support working capital, brand development, and operational efficiency
Business Model and Revenue Composition
- Operates primarily as a white-label manufacturer for global retailers including IKEA, Asda, Tesco, and Michaels
- Also markets products under its proprietary brand, All Time Branded Products
- White-label segment contributed 91.66 percent of FY25 revenue
- Proprietary brand accounted for 7.56 percent, with plans to expand B2C footprint
Financial Performance Snapshot (FY25)
- Revenue: Rs 558.1 crore, up 8.8 percent year-on-year
- Net profit: Rs 47.3 crore, a 5.6 percent increase from Rs 44.8 crore in FY24
- EBITDA margin: 18.16 percent, reflecting operational efficiency
- Debt-to-equity ratio improved to 0.84 from 0.99 in FY23
- Return on Net Worth (RONW): 19.01 percent
Manufacturing and Distribution Footprint
- Facilities located in Daman and Silvassa with combined annual capacity of 33,000 tonnes
- Product portfolio includes 1,848 SKUs across eight categories: kitchenware, cleaning tools, bath products, and child-friendly items
- Export presence in 29 countries including the US, UK, and EU
- Domestic distribution spans 23 states and six union territories via five super distributors and 38 direct distributors
IPO Management and Market Outlook
- Intensive Fiscal Services and DAM Capital Advisors appointed as merchant bankers
Listing planned on NSE and BSE
- Retail allocation set at 35 percent, with QIB and HNI quotas at 50 percent and 15 percent respectively
- Market analysts view the IPO as promising for long-term investors given the company’s stable margins and growth trajectory
Conclusion: A Promising Entry into Public Markets
All Time Plastics’ IPO marks a significant milestone for the company as it transitions from a privately held manufacturer to a publicly traded entity. With a well-defined use of proceeds, strong export credentials, and a diversified product base, the offering is poised to attract wide investor interest. As subscription opens this week, the market will be watching closely to see how this consumerware stalwart performs on the bourses.
Source: Moneycontrol
