The initial public offer from the company (IPO) received bids for 1.07.80.074 shares at 1.05.46.297 shares that are offered, which translated into 1.02 times subscription, according to data.
Quota of the retail trade Individual investors (RIIS) received 1.44 times subscription, while the part for non-institutional investors received 85 percent subscription. Qualified Institutional Buyers (QIBS) Part was subscribed to 37 percent.
All time plastics on Wednesday said that the RS 120 crore from Anker investors collected.
The public issue of the company, with a price band of RS 260-275 per share, will be closed on 11 August. At the top of the price band, the company is appreciated over RS 1,800 Crore.
The IPO is a combination of new issues of shares worth RS 280 crore by the company, and an offer for sale of more than 43.8 Lakh shares with a value of RS 120.6 crore, at the top of the price band, by promoters. This costs the total problem size up to RS 401 Crore. The company plans to use funds that have been collected from new issues for acquiring machines for its Manekpur factory in Gujarat, payment of debts, general business purposes and other expansion attempts. All Time Plastics has 14 years of experience in producing plastic consumerware products for daily household needs. It mainly exports products to retailers in the European Union, the UK and the US.
In India it sells through modern trading retailers, super distributors (who deliver to distributors) and distributors (who deliver to general trade stores).
Intensive tax services and DAM capital advisers are the trading bankers for the public problem of all time -still plastics. The company is expected to mention on August 14 at the stock exchanges of the shares.
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