IPO Alert: Is All Time Plastics Your Next Big Game-Changer? Day 1 Subscription and GMP Breaking Down

Image Source : IPO Watch

The much-awaited Initial Public Offering (IPO) of All Time Plastics Limited opened for subscription on August 7, 2025, capturing significant attention from retail and institutional investors. With an issue size of ₹400.60 crore and a price band of ₹260 to ₹275 per share, this IPO presents an opportunity to invest in a leading manufacturer of plastic consumer ware with over three decades of industry presence. Here is a detailed and real-time update on the All Time Plastics IPO Day 1 performance, key highlights, and expert insights for potential investors.

Key Highlights and IPO Essentials

IPO Open Date: August 7, 2025

IPO Close Date: August 11, 2025

Price Band: ₹260 to ₹275 per share

Total Issue Size: Approximately ₹400.60 crore, including a fresh issue of 1.02 crore shares (₹280 crore) and an offer for sale of 0.44 crore shares (₹120.60 crore)

Minimum Lot Size: 54 shares, costing around ₹14,850 at the upper price band

Listing Date: Tentatively set for August 14, 2025, on BSE and NSE platforms

Registrar: KFin Technologies Limited

Lead Managers: Intensive Fiscal Services Private Limited and Dam Capital Advisors Ltd

Subscription Status and Market Sentiment

On its first day, the IPO has seen active subscription interest among investors, though the final subscription numbers are awaited as the issue progresses towards its closing date. The Grey Market Premium (GMP) for All Time Plastics is notably positive, trading around ₹9 above the upper price band, indicating strong market demand and potential listing gains. The grey market suggests a possible listing price of approximately ₹284 per share, a 3.3% premium over the IPO upper price band.

Financial and Operational Strength

All Time Plastics Limited reported a revenue increase to ₹559.24 crore in the fiscal year ending March 2025, marking an 8% growth from the previous year. Profit after tax (PAT) rose by 6% to ₹47.29 crore, reflecting solid operational performance. The company’s Price-to-Earnings (PE) ratio at the upper price band is approximately 36.1 times FY25 earnings, while the Earnings Per Share (EPS) stands at 8.55.

All Time Plastics operates integrated, environmentally conscious manufacturing facilities supplying plastic consumer products primarily in household segments. Major clients include recognized global retailers such as IKEA, Tesco, Asda, and Michaels, enhancing the company’s export orientation and reputation.

Investment Perspective: Should You Apply?

Pros:

Strong client relationships with global and domestic retail giants ensuring steady demand
Growing revenue and profit margins with expansion plans backed by IPO proceeds
Commitment to sustainability with landfill-free policies, reflecting corporate social responsibility
Positive market sentiment indicated by GMP and favorable analyst reviews

Cons and Risks:

High customer concentration risk, with the top four customers accounting for over 78% of revenues, and the top customer alone nearly 60%
Exposure to raw material price volatility and regulatory challenges common in manufacturing
IPO valuation considered fully priced by some analysts, limiting short-term upside potential

Expert Reviews and Recommendations

Leading brokerage Anand Rathi has assigned a “Subscribe-Long Term” rating to the All Time Plastics IPO, highlighting efficient manufacturing capabilities and long-standing customer relations as strengths. The company’s valuation is seen as fair given its growth trajectory and market positioning, making the IPO suitable for investors with a medium- to long-term investment horizon.

Conclusion

The All Time Plastics IPO opens a window for investors to participate in a reputed plastic consumerware company with robust fundamentals and global client exposure. While the IPO is priced at a premium reflecting its growth potential, investors should carefully weigh the customer concentration risks and valuation metrics against their investment goals. Monitoring the subscription trend during the ongoing IPO days and the GMP movement can provide further clarity before making an application decision.

Source: Univest, Angel One, Anand Rathi, Business Standard