All Time Plastics544479Admin disclosure update

Crisil monitoring report: IPO and pre-IPO proceeds used within stated objects, no deviation

All Time Plastics has shared Crisil Ratings' Monitoring Agency Report for the quarter ended September 30, 2026, covering how its IPO and pre-IPO money was used.

By ScoutQuest · Thu 5 Nov 2026, 5:09 PM IST · 3 min read

₹3,500.00 MnGross issue total (IPO plus pre-IPO

IPO fresh issue size₹2,800.00 Mn

Pre-IPO fresh issue size₹700.00 Mn

Gross issue total (IPO plus pre-IPO ₹3,500.00 Mn: IPO fresh issue size ₹2,800.00 Mn, Pre-IPO fresh issue size ₹700.00 Mn.

Gross issue total: Rs 3,500.00 million
Amount used till end of quarter: Rs 2,723.44 million
Unutilised amount (Manekpur plant equipment & warehouse systems: Rs…: Rs 776.56 million

What the report covers

Crisil Ratings Limited, acting as Monitoring Agency, has reviewed how All Time Plastics used the money raised from its Initial Public Offer and its pre-IPO private placement. The report is for the quarter ended September 30, 2026. Deviation from the objects of the issue is marked Not Applicable, and the agency answers No to any major deviation from earlier monitoring reports.

Money raised

IPO: fresh issuance of Rs 2,800.00 million, raised between Thursday, August 07, 2025 and Monday, August 11, 2025. Issue expenses were Rs 228.91 million, leaving net proceeds of Rs 2,571.09 million.
Pre-IPO: fresh issuance of Rs 700 million, allotted Friday, September 30, 2025 through a private placement. Issue expenses were Rs 27.02 million, leaving net proceeds of Rs 672.98 million.
Combined gross issue total: Rs 3,500.00 million.

Where the IPO money was meant to go

Prepayment or repayment of borrowings: Rs 1,430.00 million
Equipment and machinery for the Manekpur Facility plus an automated storage and retrieval system (ASRS) for the warehouse there: Rs 1,137.14 million
General corporate purposes: Rs 3.95 million
Issue expenses: Rs 228.91 million

The pre-IPO money was earmarked for general corporate purposes of Rs 672.98 million and issue expenses of Rs 27.02 million. The agency notes that the amount used for general corporate purposes does not exceed 25% of the gross proceeds, a cap of Rs 703.95 million. No object head shows a revision in cost.

How much has actually been spent

Borrowings repayment: fully utilised, with Rs 1,430.00 million spent and nil unutilised. The report records this as fully utilised as on quarter ended December 31, 2025.
Manekpur equipment and ASRS: Rs 61.64 million used during the quarter, taking cumulative use to Rs 366.11 million from a proposed Rs 1,137.14 million. That leaves Rs 771.03 million unutilised.
IPO general corporate purposes: Rs 3.95 million fully utilised.
Pre-IPO general corporate purposes: Rs 9.99 million used during the quarter, cumulative Rs 667.45 million of Rs 672.98 million, leaving Rs 5.53 million unutilised. The agency notes these proceeds went towards raw material such as Polypropylene, Nanolene PP Compound and packaging material.
Issue expenses for both the IPO and the pre-IPO are fully utilised.

Totals at a glance

IPO proceeds: Rs 2,800.00 million proposed, Rs 2,028.97 million used till the end of the quarter, Rs 771.03 million unutilised.
Pre-IPO proceeds: Rs 700.00 million proposed, Rs 694.47 million used, Rs 5.53 million unutilised.
Grand total: Rs 3,500.00 million proposed, Rs 2,651.81 million used at the start of the quarter, Rs 71.63 million used during the quarter, Rs 2,723.44 million used at the end of the quarter, and Rs 776.56 million unutilised.

What the monitoring agency reviewed

Whether all utilisation is as per the disclosures in the Offer Document: Yes. The agency's comment is that IPO proceeds are utilised towards the objects disclosed in the Prospectus.
Whether the means of finance for the disclosed objects has changed: No.
Whether all Government or statutory approvals related to the objects have been obtained: Yes.
Whether arrangements for technical assistance or collaboration are in operation: Yes.
Whether there are favourable or unfavourable events affecting the viability of the objects: No on both counts.
Whether there is other relevant information that may materially affect investors' decision making: No.

The figures are backed by a certificate dated October 23, 2026 from M/s Maheshwari & Co. Chartered Accountants, described in the report as a Peer-Reviewed Independent Chartered Accountant, along with management undertakings, the Prospectus and bank statements.

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