August 8, 2025
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🚀 All Time Plastics IPO is a mainboard book-built issue of Rs.400.60 crore, comprising a fresh issue of 1.02 crore shares worth Rs.280.00 crore and an offer for sale of 0.44 crore shares aggregating Rs.120.60 crore. The IPO opens for subscription from August 7 to August 11, 2025, and allotment is expected on August 12, 2025. Tentative listing on BSE and NSE is scheduled for August 14, 2025. The price band is Rs.260–Rs.275 per share, and the lot size is 54 shares. Retail investors can apply with a minimum investment of Rs.14,040, while sNII and bNII investments start at Rs.2,07,900 (756 shares) and Rs.10,09,800 (3,672 shares) respectively.
Table of Contents
Subscription Tally on Day 1
| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 0.00 | 0.56 | 0.23 | 0.34 | 0.58 | 0.37 |
| Applications: 45767 | |||||
| Subscription Review: Retail subscription trend very strong on Day1 |
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What are the promoters of All Time Plastics IPO?
The promoters of the Company are KAILESH PUNAMCHAND SHAH, BHUPESH PUNAMCHAND SHAH AND NILESH PUNAMCHAND SHAH.
The promoters hold 90.98% shares in the post IPO capital of the company.
What are the Objects of All Time Plastics IPO?
The Offer comprises a Fresh Issue by the Company and an Offer for Sale by the Selling Shareholders.
The net proceeds of the Offer are proposed to be utilised in the following manner:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company.
- Purchase of equipment and machinery for the Manekpur Facility; and
- General corporate purposes.
What is the business of All Time Plastics?
| All Time Plastics IPO Details | |
| IPO opens on | 7 August, 2025 |
| IPO closes on | 11 August, 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 145,57,380 Shares / Rs 400.60 Crore |
| * Fresh Issue | Rs 280.00 Crore |
| * Offer for Sale | Rs 120.60 Crore |
| Face Value per share: | Rs. 2 |
| Price Band | Rs. 260-275 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 26 per share |
| Retail Lot Size | 54 Shares |
| Listing will at | BSE, NSE |
How are the shares offered?
| Investor Category | Shares Offered |
| QIB | Not more than 50% of the Net Offer |
| Retail | Not less than 35% of the Net Offer |
| NII | Not less than 15% of the Net Offer |
How can the shares be applied?
| Application | Lots | Shares | Amount Rs. |
| Retail (Min) | 1 | 54 | 14,850 |
| Retail (Max) | 13 | 702 | 1,93,050 |
| S-HNI (Min) | 14 | 756 | 2,07,900 |
| S-HNI (Max) | 67 | 3,618 | 9,94,950 |
| B-HNI (Min) | 68 | 3,672 | 10,09,800 |
| What is the timetable of this IPO? | |
| IPO opens on | 7 August 2025 |
| IPO Closes on | 11 August 2025 |
| IPO Allotment on | 12 August 2025 |
| Unblocking of Asba | 13 August 2025 |
| Credit of Shares | 13 Augut 2025 |
| Listing of Shares | 14 August 2025 |
| Registered Office of the company B-30, Royal Industrial Estate, Wadala, Mumbai – 400 031, Maharashtra, India |
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| Who are the Lead Managers of All Time Plastics IPO? Intensive Fiscal Services Pvt ltd DAM Capital Advisors Ltd |
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| Registrar to IPO | |
| Kfin Technologies Limited |
All Time Plastics Financial Snpshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 562.32 | 415.46 | 400.48 |
| Total Income | 559.24 | 515.88 | 443.76 |
| Profit After Tax | 47.29 | 44.79 | 28.27 |
| EBITDA | 101.34 | 97.1 | 73.38 |
| Net Worth | 249.13 | 202.35 | 157.84 |
| Reserves and Surplus | 247.73 | 200.87 | 156.6 |
| Total Borrowing | 218.51 | 142.35 | 171.74 |
| Amount in Rs. Crore | |||
Key Performance Indicators
| KPI | Values |
| ROE | 19.01% |
| ROCE | 16.99% |
| Debt/Equity | 0.88 |
| RoNW | 19.01% |
| PAT Margin | 8.46% |
| EBITDA Margin | 18.16% |
| Price to Book Value | 7.15 |
| EPS-Post IPO | 7.22 |
| PE-Post IPO | 38.09 |
How All Time Plastics IPO compares with the Peers?
Peer Comparison.
| Company Name | P/E (x) | RoNW (%) |
| All Time Plastics Limited | 19.01 | |
| Shaily Engineering Plastics Ltd. | 80.69 | 17 |
| Cello World Limited | 40.71 | 16.82 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
All Time Plastics IPO Review by Paresh Gordhandas, CA & Research Analyst
🔍 All Time Plastics IPO — Strategic Investment Highlights
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Export Leadership: In FY 2024, All Time Plastics exported products worth around USD 57 million, accounting for ~26% of India’s total plastic houseware exports. Export revenue now exceeds 85% of total turnover, reducing dependence on domestic demand
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Marquee Global Customers: The company manufactures for renowned global retailers including IKEA, Tesco, Asda, and Michaels, under long-term business relations. This deep-rooted business deal pipeline adds stability and scale.
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Recycled Plastics & Sustainability: Though specific details are limited online, All Time Plastics has positioned itself under ESG-aligned practices with modernised automated operations and CSR focus—indirectly supporting growing global demand for eco-conscious manufacturing.
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China‑Plus Tailwinds: As global retailers diversify sourcing, India is emerging as an alternate manufacturing base. All Time Plastics benefits from this shift—an established supplier with export credibility and capacity expansion underway.
📈 Financial & Operational Snapshot (FY 2025)
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Revenue: Rs. 559.24 crore; PAT: Rs. 47.29 crore (PAT margin ~8.46%)
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EBITDA Margin: ~18.16%; ROE: ~19.01%; ROCE: ~16.99%; Debt‑to‑Equity: ~0.84×
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Efficient working capital cycle (~74 days) and trade receivable days (~57) underpin operational strength among peer B2B players.
✅ Why Consider Applying?
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Strong Export Orientation: With over 85% revenue earned from exports, the company has built a global client base, insulating it from domestic demand swings.
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Trusted Client Relationships: Long-term relations with global retail giants reduce order volatility and support capacity-scale planning.
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China‑Plus Advantage: Positioned to capitalise on global supply chain pivot from China to India, especially in houseware exports.
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Financial Discipline & Efficiency: Healthy profitability metrics, efficient working capital, and sustained pricing power support consistent margins.
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Growth-Focused Use of IPO Proceeds: Capital will be used to reduce debt (~Rs. 143 cr) and expand production automation—improving capacity and margin sustainability.
⚠️ Key Risks & Cautions
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Raw-Material & Currency Volatility: Fluctuations in polymer prices or forex rates can compress margins.
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Customer Concentration: Heavy reliance on a few global clients (IKEA etc.) poses downside if contracts shift.
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Plastic Dependency & ESG Pressure: Global scrutiny over single-use plastics might escalate compliance costs or regulatory risks.
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Valuation Watch: While not excessively expensive, the IPO trades around ~P/E 32× and P/B ~7× – not deeply discounted versus peers.
🏁 Chanakya Verdict
All Time Plastics offers a robust export-driven SME opportunity anchored by global clientele, operational excellence, and favourable macro‑tailwinds under the China‑plus strategy. It presents a compelling mid‑cap manufacturing investment with stable margins and growth visibility.
For long-term oriented investors looking for global export exposure and corporate efficiency, this IPO is a credible bet.
The All Time Plastics IPO is a book-building issue of Rs. 400.60 crores, comprising a fresh issue of Rs. 280.00 crores and an offer for sale of Rs. 120.60 crores
The IPO opens on August 7, 2025, and closes on August 11, 2025.
The allotment is expected to be finalized on August 12, 2025, and the tentative listing date on BSE and NSE is August 14, 2025.
The price band has been set between Rs. 260 and Rs. 275 per share.
The lot size is 54 shares, requiring a minimum retail investment of Rs. 14,040.
Established in 1971, All Time Plastics Limited manufactures plastic houseware products. It serves B2B white-label clients and B2C customers under the “All Time Branded Products” brand. Its portfolio includes 1,848 SKUs across eight categories such as kitchen tools, containers, hangers, cleaning products, bath products, and children’s tableware.
The company supplies to global retailers like IKEA, Asda, Michaels, and Tesco. In India, it distributes through Spencer’s Retail and a network of super distributors and distributors across 23 states and six union territories.
