Khaitan & Co Advised All Time Plastics And Promoter Selling Shareholders On Proposed IPO
Khaitan & Co Advised All Time Plastics And Promoter Selling Shareholders On Proposed IPO
Khaitan & Co has advised All Time Plastics Limited and its promoter selling shareholders on the proposed Initial Public Offering (IPO), comprising a fresh issue of equity shares worth up to ₹350 crores and an offer for sale by the promoter selling shareholders.
The IPO consists of a combination of a fresh issue of equity shares worth up to ₹350 crores by the company, along with an offer for sale of 52.5 lakh equity shares by the existing shareholders.
All Time Plastics is primarily a white-label manufacturer, producing consumer goods for customers to market under their own brand names, including global retailers like IKEA, Asda Stores, Michaels Stores Inc., and Tesco Plc. The company also supplies products to Indian retailers such as Spencer's Retail.
Out of the net proceeds from the fresh issue (after IPO expenses), the company intends to allocate ₹120 crores for debt repayment and ₹133.73 crores for purchasing equipment and machinery for its Manekpur facility. The remaining funds will be utilized for general corporate purposes.
Intensive Fiscal Services and DAM Capital Advisors are acting as the book running lead managers for the issue.
The Khaitan & Co deal team was led by Executive Director Sudhir Bassi, Partner Thomas George, Principal Associate Poorvi M., and Associates Komal Israni, Pooja Agarwal, Lakshmi Raj, Jash Botadra, and Tharun Vadlapatla.
