All Time Plastics IPO kicks off: Should you subscribe to this Rs 400 crore IPO?
All Time Plastics is selling its shares in the price band of Rs 260-275 apiece, applied for a minimum of 54 shares and its multiples to raise Rs 400.60 crore between August 07-11.
- Aug 7, 2025,
- Updated Aug 7, 2025 9:54 AM IST
The initial public offering (IPO) of All Time Plastics kicks-off for bidding on Thursday, August 07. The houseware products maker is selling its shares in the range of Rs 260-275 apiece and investors can apply for a minimum of 54 equity shares and its multiples thereafter. The issue can be applied until Monday, August 11.
The IPO of All Time Plastics is looking to raise a total of Rs 400.60 crore via IPO including a fresh share sale of Rs 280 crore, while existing shareholders are offloading 43,85,562 equity shares worth Rs 120.60 crore via offer-for-sale (OFS). Net proceeds from the issue shall be utilized towards debt repayment, purchase of equipment & machinery and general corporate purposes.
Established in 1971, Mumbai-based All Time Plastics is an Indian company specializing in the manufacturing of plastic houseware products. It mainly manufactures consumerware for B2B white-label clients, while also offering products under their proprietary brand, 'All Time Branded Products,' for B2C customers.
All Time Plastics raised Rs 119.9 crore from 12 institutional investors as it finalised allocation of 43.6 lakh shares at Rs 275 per share. Its anchor book included names like Ashoka India, ABSL Umbrella Ucits Fund, Canara Robeco MF, Bandhan Mutual Fund, Abakkus Asset Manager, 360 ONE Equity Opportunity Fund, Edelweiss, Nuvama and Gagandeep Credit Capital.
For the financial year ended on March 31, 2025, the company reported a net profit of Rs 47.29 crore with a revenue of Rs 559.24 crore. Its net profit stood at Rs 44.79 crore with a revenue of Rs 515.88 crore for the year 2023-24. The company shall command a total market capitalization of Rs 1,801 crore at the current valuation of the IPO.
Ahead of its IPO, in consultation with the lead managers, the company raised Rs 70 crore in the pre-IPO placement, where it sold more than 28,22 lakh equity shares for Rs 248 apiece. All Time Plastics has reserved 35,750 equity shares for its eligible employees, who will get a discount of Rs 26 per share in the IPO.
All Time Plastic has reserved 50 per cent of the net offer for qualified institutional bidders, while non institutional investors will have 15 per cent of allocations. Retail investors will get 35 per cent of the allocation in the IPO. It is commanding a grey market premium of Rs 25 apiece, suggesting 9 per cent gains for the investors.
Intensive Fiscal Services and DAM Capital Advisors are the book-running lead managers of the All Time Plastics IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with August 14, Thursday as the tentative date of listing. Here's what a host of analysts said about the IPO of All Time Plastics:
Anand Rathi Shares & Stock Brokers Rating: Subscribe for long-term
All Time Plastics operates strategically located, fully integrated manufacturing facilities that enable cost-effective, large scale production of high-quality plastic consumer products. It offers a diverse and growing range of consumer ware, supported by in-house expertise in product and mould design. It serves both domestic and international markets with customized, innovative solutions, said Anand Rathi.
"It has built long-standing relationships with global retailers such as IKEA, Asda, Michaels, and Tesco, as well as leading Indian retail chains. It follows a strict landfill-free policy, ensuring all operational waste is recycled, reused, or repurposed, reflecting its dedication to environmental responsibility. It issue valued at P/E of 36.1 times to its FY25 earnings, it added with a 'subscribe for long-term" tag.
Reliance Securities Rating: Subscribe
ATPL stands at the intersection of strong industry growth and evolving global consumption trends. With its established export presence, diversified product range, and focus on sustainable manufacturing, it is well-positioned to capitalize on both domestic and international opportunities, said Reliance Securities, with a 'subscribe' rating.
Marwadi Financial Services Rating: Avoid
We assign 'avoid' rating to this IPO as the company’s 59 per cent revenue comes from single customer only which poses client concentration risk, said Marwadi Financial Services. "Also, valuations are expensive on an absolute basis," it added.
SBI SecuritiesRating: Subscribe
ATPL is valued at a P/E multiple of 38.1 times based on FY25 earnings. It is the second largest manufacturer of plastic consumerware in India and is a proxy play to global retailers like IKEA, Asda. Going ahead, ATPL is expanding its existing Manekpur capacity from 4,000 TPA in FY25 to 16,500/22,500 TPA in FY26E/FY27E respectively, said SBI Securities.
"It is also expected to repay debt of Rs 143 cr from the fresh issue proceeds, which shall aid in saving on interest costs and boost profitability (Debt/Equity: 0.9 times in FY25 vs 0.1 times post debt repayment). We recommend investors to 'subscribe' the issue at the cut-off price," it added.
Choice Broking Rating: Subscribe
Its growth strategy includes entering high-potential segments like hydration, baking, and silicon-based products, increasing SKU count in key categories, and strengthening in-house design and R&D capabilities to drive innovation and customization. ATPL is demanding a valuation of P/E multiple of 38.1 times, aligning with the sector’s average valuation, said Choice Broking.
"Given its consistent financial performance, efficient operations, and focused growth strategy, the offering is supported by strong fundamentals. Continued investments in automation, sustainability, and entry into high-growth product categories position ATPL to generate meaningful long-term value for investors. Thus, we recommend a 'subscribe' rating for this issue," it added.
Canara Bank Securities Rating: Subscribe
Financially, ATPL has shown consistent topline and bottom-line growth with high capacity utilization. At a P/E of 30.52 times and P/B of 5.80 times (FY25), valuations appear reasonable compared to peers, said Canara Bank Securities. "We assign a 'subscribe' rating for well-informed investors with a medium to long-term investment horizon, backed by the company’s operational resilience, export dominance, and upcoming capacity-led growth," it said.
Ventura SecuritiesRating: Subscribe
ATPL is executing a capex plan towards new equipment and machinery for the Manekpur facility, pre-payment and repayment of all or a portion of certain outstanding borrowings, said Ventura Securities. "This expansion will enable them to secure new orders from existing and potential customers, capitalize on emerging market opportunities and drive revenue growth," it added.
SMIFSRating: Subscribe
It is well positioned to capitalize on domestic and global demand tailwinds in the segment, supported by consistent innovation, strong export visibility, and an expanding manufacturing footprint, said SMIFS. "We recommend subscribing to the issue, backed by ATPL’s strong traction with marquee global retailers, which is expected to translate into sustained order flows and improved capacity utilisation."
The initial public offering (IPO) of All Time Plastics kicks-off for bidding on Thursday, August 07. The houseware products maker is selling its shares in the range of Rs 260-275 apiece and investors can apply for a minimum of 54 equity shares and its multiples thereafter. The issue can be applied until Monday, August 11.
The IPO of All Time Plastics is looking to raise a total of Rs 400.60 crore via IPO including a fresh share sale of Rs 280 crore, while existing shareholders are offloading 43,85,562 equity shares worth Rs 120.60 crore via offer-for-sale (OFS). Net proceeds from the issue shall be utilized towards debt repayment, purchase of equipment & machinery and general corporate purposes.
Established in 1971, Mumbai-based All Time Plastics is an Indian company specializing in the manufacturing of plastic houseware products. It mainly manufactures consumerware for B2B white-label clients, while also offering products under their proprietary brand, 'All Time Branded Products,' for B2C customers.
All Time Plastics raised Rs 119.9 crore from 12 institutional investors as it finalised allocation of 43.6 lakh shares at Rs 275 per share. Its anchor book included names like Ashoka India, ABSL Umbrella Ucits Fund, Canara Robeco MF, Bandhan Mutual Fund, Abakkus Asset Manager, 360 ONE Equity Opportunity Fund, Edelweiss, Nuvama and Gagandeep Credit Capital.
For the financial year ended on March 31, 2025, the company reported a net profit of Rs 47.29 crore with a revenue of Rs 559.24 crore. Its net profit stood at Rs 44.79 crore with a revenue of Rs 515.88 crore for the year 2023-24. The company shall command a total market capitalization of Rs 1,801 crore at the current valuation of the IPO.
Ahead of its IPO, in consultation with the lead managers, the company raised Rs 70 crore in the pre-IPO placement, where it sold more than 28,22 lakh equity shares for Rs 248 apiece. All Time Plastics has reserved 35,750 equity shares for its eligible employees, who will get a discount of Rs 26 per share in the IPO.
All Time Plastic has reserved 50 per cent of the net offer for qualified institutional bidders, while non institutional investors will have 15 per cent of allocations. Retail investors will get 35 per cent of the allocation in the IPO. It is commanding a grey market premium of Rs 25 apiece, suggesting 9 per cent gains for the investors.
Intensive Fiscal Services and DAM Capital Advisors are the book-running lead managers of the All Time Plastics IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with August 14, Thursday as the tentative date of listing. Here's what a host of analysts said about the IPO of All Time Plastics:
Anand Rathi Shares & Stock Brokers Rating: Subscribe for long-term
All Time Plastics operates strategically located, fully integrated manufacturing facilities that enable cost-effective, large scale production of high-quality plastic consumer products. It offers a diverse and growing range of consumer ware, supported by in-house expertise in product and mould design. It serves both domestic and international markets with customized, innovative solutions, said Anand Rathi.
"It has built long-standing relationships with global retailers such as IKEA, Asda, Michaels, and Tesco, as well as leading Indian retail chains. It follows a strict landfill-free policy, ensuring all operational waste is recycled, reused, or repurposed, reflecting its dedication to environmental responsibility. It issue valued at P/E of 36.1 times to its FY25 earnings, it added with a 'subscribe for long-term" tag.
Reliance Securities Rating: Subscribe
ATPL stands at the intersection of strong industry growth and evolving global consumption trends. With its established export presence, diversified product range, and focus on sustainable manufacturing, it is well-positioned to capitalize on both domestic and international opportunities, said Reliance Securities, with a 'subscribe' rating.
Marwadi Financial Services Rating: Avoid
We assign 'avoid' rating to this IPO as the company’s 59 per cent revenue comes from single customer only which poses client concentration risk, said Marwadi Financial Services. "Also, valuations are expensive on an absolute basis," it added.
SBI SecuritiesRating: Subscribe
ATPL is valued at a P/E multiple of 38.1 times based on FY25 earnings. It is the second largest manufacturer of plastic consumerware in India and is a proxy play to global retailers like IKEA, Asda. Going ahead, ATPL is expanding its existing Manekpur capacity from 4,000 TPA in FY25 to 16,500/22,500 TPA in FY26E/FY27E respectively, said SBI Securities.
"It is also expected to repay debt of Rs 143 cr from the fresh issue proceeds, which shall aid in saving on interest costs and boost profitability (Debt/Equity: 0.9 times in FY25 vs 0.1 times post debt repayment). We recommend investors to 'subscribe' the issue at the cut-off price," it added.
Choice Broking Rating: Subscribe
Its growth strategy includes entering high-potential segments like hydration, baking, and silicon-based products, increasing SKU count in key categories, and strengthening in-house design and R&D capabilities to drive innovation and customization. ATPL is demanding a valuation of P/E multiple of 38.1 times, aligning with the sector’s average valuation, said Choice Broking.
"Given its consistent financial performance, efficient operations, and focused growth strategy, the offering is supported by strong fundamentals. Continued investments in automation, sustainability, and entry into high-growth product categories position ATPL to generate meaningful long-term value for investors. Thus, we recommend a 'subscribe' rating for this issue," it added.
Canara Bank Securities Rating: Subscribe
Financially, ATPL has shown consistent topline and bottom-line growth with high capacity utilization. At a P/E of 30.52 times and P/B of 5.80 times (FY25), valuations appear reasonable compared to peers, said Canara Bank Securities. "We assign a 'subscribe' rating for well-informed investors with a medium to long-term investment horizon, backed by the company’s operational resilience, export dominance, and upcoming capacity-led growth," it said.
Ventura SecuritiesRating: Subscribe
ATPL is executing a capex plan towards new equipment and machinery for the Manekpur facility, pre-payment and repayment of all or a portion of certain outstanding borrowings, said Ventura Securities. "This expansion will enable them to secure new orders from existing and potential customers, capitalize on emerging market opportunities and drive revenue growth," it added.
SMIFSRating: Subscribe
It is well positioned to capitalize on domestic and global demand tailwinds in the segment, supported by consistent innovation, strong export visibility, and an expanding manufacturing footprint, said SMIFS. "We recommend subscribing to the issue, backed by ATPL’s strong traction with marquee global retailers, which is expected to translate into sustained order flows and improved capacity utilisation."