All Time Plastics Limited, a 14-year-old manufacturer of plastic consumerware products, made a strong stock market debut with its shares listing at ₹314.30 on BSE and ₹311.30 on NSE, reflecting a nearly 14% premium over the IPO price of ₹260–275 per share. This positive listing underscores robust investor interest and the company’s solid operational performance.

The IPO, a Book Built Issue amounting to ₹400.60 Crores, comprised a Fresh Issue of 1.01 Crore shares worth ₹280 Crores and an Offer for Sale of 0.43 Crore shares totaling ₹120.60 Crores. The subscription period opened on August 7, 2025, and closed on August 11, 2025, with allotment expected on August 12, 2025, and tentative listing on August 14, 2025. The IPO lot size was 54 shares, requiring retail investors to invest a minimum of ₹14,850, while High Net-Worth Individuals had a minimum investment of ₹2,07,900.

The Grey Market Premium (GMP) of All Time Plastics IPO was around ₹20, reflecting market expectations of listing gains. However, investors are cautioned that GMP is informal and not indicative of actual exchange trading. On the final day of subscription, the IPO was subscribed 3.21 times, indicating strong investor demand.

Anchor Investors subscribed for 43,60,502 shares at ₹275 each, contributing ₹119.91 Crores, demonstrating institutional confidence.

The objectives of the IPO include prepayment or repayment of borrowings (₹1,430 Million), purchase of equipment and automation for the Manekpur facility (₹1,137.14 Million), and general corporate purposes.

Company Overview:
All Time Plastics operates in B2B white-label manufacturing and B2C branded products, offering 1,848 SKUs across eight categories, including Prep Time, Containers, Organization, Hangers, Meal Time, Cleaning Time, Bath Time, and Junior. The company exports to 29 countries and supplies global retailers such as IKEA, Asda, Michaels, and Tesco. Domestic presence includes sales through modern trade, super distributors, and retailers like Spencer’s Retail.

Manufacturing is executed at three integrated facilities in Daman, Silvassa, and Manekpur, featuring automated production lines, robotics, and ERP-based inventory management. Capacity utilization stood at 79.48% in FY25. Sustainability is a focus, with 27.21% of raw materials derived from recycled sources, and certifications such as Global Recycled Standard (GRS) enhance ESG compliance.

Financial Performance:
All Time Plastics reported revenue growth at a CAGR of 12.19% from ₹4,434.86 million in FY23 to ₹5,581.67 million in FY25. EBITDA and profit grew at CAGRs of 17.51% and 29.34%, respectively, reflecting strong operational efficiency.

Industry Outlook:
The Indian consumerware market is growing steadily, projected to expand from INR 273.6 Bn in FY24 to INR 299.9 Bn in FY25, and reach INR 498.7 Bn by FY30, driven by rising incomes, nuclear family trends, and preference for functional, aesthetic kitchen solutions. Plastic remains a dominant material, with a projected CAGR of 11.6% to INR 179.2 Bn by FY30. The market is gradually shifting from unbranded to branded products, increasing opportunities for companies like All Time Plastics.

Business Strengths and Strategies:
All Time Plastics leverages strategically located manufacturing units, a diverse product portfolio, long-term global client relationships, and sustainable production practices. The company plans capacity expansion, digital automation, and bamboo-based product diversification while continuing product innovation.

Risks:
Key concerns include customer concentration (top four customers contributing over 78% revenue), supplier dependency, raw material price volatility, regulatory changes, and foreign exchange fluctuations. Competitive threats from sustainable alternatives and limitations due to white-label contracts are also factors to monitor.

With a strong listing performance and robust business model, All Time Plastics is positioned to capitalize on the growing domestic and global plastic consumerware markets, combining operational efficiency, sustainability initiatives, and strategic client partnerships.

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The Upcoming IPOs in this week and coming weeks are Mangal Electrical Industries, LGT Business Connextions, Vikram Solar, Gem Aromatics, Studio LSD, Shreeji Shipping Global, Patel Retail.

The Current active IPO are Regaal Resources, Mahendra Realtors and Infrastructure.

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