ICICI Bank made headlines on August 14 by offloading shares worth over ₹10 crore in newly listed All Time Plastics Ltd, marking a swift and strategic exit on the stock’s debut day. The move underscores the bank’s aggressive treasury operations and highlights investor enthusiasm around the IPO of the Mumbai-based plastic consumerware manufacturer.
Here’s a comprehensive breakdown of the debut day developments and what they signal for the stock and broader market sentiment.
Key Developments on Listing Day
- ICICI Bank sold 3.6 lakh shares of All Time Plastics at an average price of ₹293.97 per share
- The IPO was priced at ₹275, and the stock listed at ₹313.60 on the NSE, reflecting a 14% premium
- Intraday, the stock surged as much as 18.2% before closing at ₹283.30, still 3% above the issue price
- Combined trading volume on BSE and NSE reached 1.86 crore shares, with market capitalization touching ₹1,856 crore
- Sun Life Excel India Fund emerged as a major buyer, acquiring nearly six lakh shares for ₹18 crore at ₹302.90 apiece
ICICI Bank’s Treasury Playbook
The bulk sale by ICICI Bank aligns with its broader treasury strategy:
- The bank’s FY25 annual report shows treasury-related gains of ₹1,903 crore, a sharp rise from ₹9 lakh in FY24
- Financial institutions often invest in IPOs for short-term gains, and ICICI’s exit reflects a tactical profit-booking move
- The sale also signals confidence in market liquidity and demand for All Time Plastics shares
IPO Structure and Fund Utilization
All Time Plastics raised ₹400 crore through its IPO:
- Fresh issue: 1.02 crore shares aggregating to ₹280 crore
- Offer for sale: 0.44 crore shares aggregating to ₹120.6 crore
- Proceeds will be used to acquire machinery for the Manekpur plant in Gujarat, repay debt, and fund expansion and general corporate purposes
Company Profile and Financial Performance
All Time Plastics has built a strong export-oriented business model:
- Over 14 years of experience in manufacturing household plastic consumerware
- Product portfolio includes mugs, baskets, hangers, bathroom sets, thermos flasks, bottles, and other houseware items
- Primary export markets: European Union, UK, and US
- Domestic distribution: modern trade retailers, super distributors, and general trade channels
Financial metrics show consistent growth:
- Revenue rose from ₹443 crore in FY23 to ₹558 crore in FY25
- Profit after tax increased from ₹28 crore to ₹47 crore
- EBITDA margin improved to 18.12%
- Return on equity stood at 19.01%
Investor Sentiment and Outlook
The IPO received strong demand across investor categories:
- Subscription levels exceeded expectations, supported by robust anchor investor participation
- Analysts suggest medium-term consolidation in the ₹290–₹320 range as traders book profits
- Long-term prospects remain favorable due to scalable operations, brand equity, and global client base
Conclusion: A Debut That Delivered
ICICI Bank’s ₹10 crore exit on debut day reflects a well-timed treasury maneuver, while All Time Plastics’ listing premium and trading volumes signal strong investor interest. With solid financials and a clear growth roadmap, the company appears well-positioned for sustained performance. For investors, the debut offers both short-term trading opportunities and long-term structural potential.
Sources: CNBC TV18, MSN Money, News18
