All Time Plastics IPO: Day 2 Subscription Status, Strong Anchor Investors & Latest GMP
This article provides a detailed look at the Day 2 subscription status of the All Time Plastics IPO. We will analyze the response from all categories, the strong anchor investor list, and its impact on the Grey Market Premium (GMP). We will also discuss key observations before applying to this IPO.
All Time Plastics IPO Anchor Investor List Breakdown
The anchor investor list for the All Time Plastics IPO was released on August 6th, ahead of the IPO opening on August 7th. Shares worth approximately ₹120 crore were allocated to anchor investors from the total issue size. Importantly, 50% of these allocated shares can be sold after 30 days (September 11th), while the remaining 50% can be sold after 90 days (November 10th). These two dates are crucial for long-term investors in the company.
Within the total anchor investor portion, Ashoka India Equity, Rubico Mutual Fund, and Bansal Cap Funds each received an allocation of 11.67%. Diversified Alpha Funds also received 11.67% of the shares. 361 Equity Opportunities Funds were allocated 7.50% of the total issue size. ABSL Funds received 11.67% of the anchor portion, while Edelweiss Trustship Funds were allocated 7.50% of the total issue size. Another Edelweiss fund received 4.16%, and WAA Wealth Funds, along with another fund, each received 5.83%. Additionally, Gangadhar Credit Capital Funds received 6.67% of the allocation.
In total, approximately 4,364,054 equity shares, valued at around ₹119-120 crore, were allocated to anchor investors. The list includes participation from several mutual funds like Bandhan SaLC Cap Funds (Rubico Funds) and two distinct Edelweiss Trust funds, indicating significant interest from institutional players. This strong anchor investor list suggests a high likelihood of the IPO being significantly oversubscribed in the coming days.
All Time Plastics IPO Key Details
The All Time Plastics IPO opened on August 7th, with August 8th marking the second day for applications. The final day to apply for the IPO is Monday, August 11th. The company’s shares have a face value of ₹2, and the price band is set at ₹275, which is also the cut-off price for applications. Investors must select a minimum of 54 equity shares per lot to apply for an allotment.
The total issue size of the IPO is ₹400 crore. This includes a fresh issue of ₹280 crore, which will go to the company, and an Offer for Sale (OFS) of ₹120 crore, where promoters and existing shareholders are selling their stakes. The allocation of shares is structured as follows: 50% for Qualified Institutional Buyers (QIBs), 35% for Retail investors, and 15% for High Net Worth Individuals (HNIs). The company is set to be listed on both the BSE and NSE stock exchanges.
All Time Plastics IPO Day 2 Subscription Status
As of the end of Day 2, the All Time Plastics IPO has been subscribed 1.06 times overall, indicating it is fully oversubscribed with a positive response.
Category-wise Subscription Breakdown:
- Qualified Institutional Buyers (QIB): This category saw a subscription of 0.38 times. Bids were received for 11,51,644 equity shares against an offer of 29,73,000 equity shares, with the total bid value amounting to ₹31 crore.
- High Net Worth Individuals (HNI): The HNI category was subscribed 0.88 times. Bids were received for 19,10,000 equity shares against an offer of 21,80,000 equity shares, totaling ₹52 crore in bids.
- Big HNI: Within the HNI segment, the Big HNI portion subscribed 1.25 times, receiving bids for 9,10,000 equity shares against an offer of 7,24,260 equity shares, valued at ₹25 crore.
- Small HNI: The Small HNI category (for applications between ₹2 lakhs and ₹10 lakhs) subscribed 0.69 times, with bids for 10,90,000 equity shares against an offer of 14,53,000 equity shares, valued at approximately ₹27-28 crore.
- Retail Investors: Retail investors showed strong participation, subscribing 1.51 times. Bids were placed for 77,03,000 equity shares against an offer of 50,87,000 equity shares, amounting to ₹212 crore.
- Employee Category: The Employee category was significantly oversubscribed at 3.13 times, receiving bids for 1,11,888 equity shares against an offer of 35,750 equity shares, totaling ₹13 crore.
Compared to Day 1, when the IPO was subscribed 0.37 times with a relatively weak QIB response, Day 2 shows an improved positive response, particularly from QIBs. Expectations are high for further oversubscription on the final day, Day 3.
All Time Plastics IPO Grey Market Premium (GMP) Update
The Grey Market Premium (GMP) for the All Time Plastics IPO has seen a slight decline, moving from ₹25 to ₹18. Based on this current GMP and the IPO price of ₹275, the estimated listing price for the IPO is ₹293 (₹275 + ₹18). This suggests a potential listing gain of approximately 6.5% to 7% per lot, which translates to an estimated gain of around ₹972 per lot.
Conclusion
The All Time Plastics IPO has shown a positive response after Day 2, achieving full oversubscription. Investors should closely observe the subscription trends on the final day, Monday, August 11th, especially the QIB response, before making their application decisions. Further updates will be provided promptly. For any queries or opinions, please feel free to comment.
