Consumerware products maker All Time Plastics has raised INR 100 crore in a pre-IPO round led by ace investor Sunil Singhania’s Abakkus Asset Management, according to regulatory disclosures.
The fundraising includes a primary infusion of INR 70 crore through fresh equity issuance and a secondary purchase of shares worth INR 30 crore from promoters.
The investment, finalised on 30 June, precedes the company’s planned initial public offering. The company has since revised its fresh issue size from INR 350 to 280 crore.
📈 All Time Plastics Pre-IPO: Breakdown of the Deal
Abakkus Four2Eight Opportunities Fund subscribed to 2.82 million shares at INR 248 apiece, as part of a Share Subscription Agreement (SSA) signed on 27 June.
Simultaneously, promoters Kailesh, Bhupesh, and Nilesh Punamchand Shah transferred 1.7 million shares to Abakkus and other investors through a Share Purchase Agreement (SPA). These shares were sold at the same price.
👥 Who Bought in the Pre-IPO Round?
As per the company’s disclosures, other buyers of secondary shares included:
- Marwadi Chandarana Intermediaries
- Sanjay Natverial Shah, Manish Gattani, Drashti Sheth, and Ronak Sheth
- Krutika Shah, Mugdha Kulkarni, Chhaya Kiran Sheth, among others
Abakkus alone accounted for INR 30 crore of the INR 42.22 crore raised through secondary transfers.
“The equity shares issued and transferred in this round will be subject to lock-in, as per SEBI ICDR norms,” the company said in its investor notice.
🏭 All Time Plastic: Business Snapshot
All Time Plastics, headquartered in Mumbai, is a leading white-label manufacturer of plastic consumerware. It counts IKEA, Tesco, Michaels Stores, and Spencer’s Retail among its clients and also sells under its brand ‘alltime’.
The company operates facilities in Daman and Silvassa and offers over 1,600 SKUs across kitchen tools, food storage containers, cleaning products, and more.
💹 Financial Highlights (FY24)
- Revenue: INR 512.85 crore (↑15.6% YoY)
- Net Profit: INR 44.8 crore (↑58.4%)
- EBITDA: INR 97.1 crore, Margin: 18.9% (+240 bps)
In FY23, All Time Plastics was India’s second-largest plastic consumerware B2B player by revenue.
🎯 Use of IPO Funds
From the revised fresh issue of INR 280 crore:
- INR 120 crore will go toward debt repayment
- INR 133.73 crore will fund machinery for its Manekpur facility
- The rest will support general corporate purposes
🗂 IPO Status and Advisors
The company filed its DRHP on 30 September 2024 and received SEBI clearance in January 2025. It was converted to a public limited entity in August 2024.
Intensive Fiscal Services and DAM Capital Advisors are acting as the book-running lead managers for the issue.
Conclusion
Backed by a strong growth track, marquee global clients, and a clean balance sheet post pre-IPO placement, All Time Plastics is now poised to test investor appetite as it heads for a public listing. The active participation of institutional and strategic investors — led by Abakkus — sets a confident tone ahead of the IPO.
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