All Time Plastics Ltd debuted with over 14% premium on the BSE at ₹314.30 vs IPO price of ₹275; later rose to ₹322.15.
NSE listing was at ₹311.30, up 13.2%.
Company’s market valuation stood at ₹1,976.37 crore on listing day.
Shares of consumerware products maker All Time Plastics Ltd on Thursday listed with a premium of over 14% against the issue price of ₹275.
The stock started trading at ₹314.30, a jump of 14.29% from the issue price on the BSE. Later, it surged 17.14% to ₹322.15.
At the NSE, the stock listed at ₹311.30, up 13.2%.
The company commanded a market valuation of ₹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 ₹401crore Initial Public Offer (IPO) had a price band of ₹260-275 per share.
The IPO was a combination of fresh issuance of equity shares worth up to ₹280 crore by the company, and an offer for sale of over 43.8 lakh equity shares valued at ₹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).
