All Time Plastics raises ₹120cr ahead of IPO
All Time Plastics, known for making everyday plastic products, just raised ₹120 crore from major investors ahead of its IPO dropping on August 7.
Big names like Ashoka India Equity Investment Trust PLC and Canara Robeco Mutual Fund are backing the company.
Shares are priced between ₹260-275, with a total fundraising goal of ₹401 crore through both new shares and shares sold by promoters.
Funds will help buy new machinery
The funds will help buy new machinery for their Manekpur plant in Gujarat and pay down some debt.
All Time Plastics has been around for 14 years, mostly selling to Europe, the UK, and the US—but they're looking to grow at home in India too.
The IPO is managed by Intensive Fiscal Services and DAM Capital Advisors, with shares expected to hit stock exchanges by August 14.