SINGAPORE, 26 August 2025 — Duane Morris & Selvam LLP acted as the international legal counsel to Intensive Fiscal Services Private Limited and DAM Capital Advisors Limited in their capacity as the book running lead managers on the recent sale of INR 4,706 million (US$54 million) of shares in All Time Plastics Limited in a pre-IPO and IPO in India and concurrent private placements outside India.
The IPO garnered very good interest from investors, with a QIB subscription of 10.30 times, NII subscription of 14.01 times, retail subscription of approximately 18 times, and an overall subscription of approximately 5.36 times. The company’s equity shares were listed on BSE and NSE on August 14, 2025 and were listed at a 14% premium to the IPO price.
All Time Plastic Limited has 14 years’ experience of manufacturing plastic consumerware products for everyday household needs. The company produces consumerware for customers to market under their own brand names and sells consumerware products under its own “alltime” brand.
Duane Morris & Selvam’s team was led by Jamie Benson, the head of the U.S. capital markets, U.S. venture capital and India practices. The deal team also included Priya Selvam, a senior associate in the Singapore office; and Faiz Jugari, an associate in the Singapore office.
“We are thrilled to have played a key role in All Time Plastic’s successful IPO” said Benson.
Khaitan & Co acted as Indian legal counsel to All Time Plastic Limited and Promoter Selling Shareholders and JSA Advocates & Solicitors acted as Indian legal counsel to the Book Running Lead Managers.
About Duane Morris & Selvam LLP India Capital Markets Practice
Duane Morris & Selvam acted as the international legal counsel on 13 IPOs and 22 QIPs by Indian issuers that closed in the year ended December 31, 2024, representing a market share of approximately 17% and 23% in terms of number of deals, respectively. As per Bloomberg Global Legal Adviser League Tables for the year ended December 31, 2024, Duane Morris & Selvam was the 2nd ranked international law firm in terms of the number of deals advising the lead managers on equity offerings by Indian issuers.
About Duane Morris & Selvam LLP
Duane Morris & Selvam LLP is the joint law venture between Duane Morris LLP and Selvam LLC, with its headquarters in Singapore. By way of its global platform and extensive range of legal services, the firm helps companies conduct business in and out of Asia, the United States, Latin America, the United Kingdom and beyond. In addition to the excellent skills of its lawyers, clients benefit from the cultural fluency and key relationships that the firm has developed over many years of practising law throughout the region. The firm has a presence in the key markets of Southeast Asia, including Singapore, Hanoi, Ho Chi Minh City and Yangon, as well as an office in Shanghai. Supporting these regional offices, the firm operates a series of country desks for India, Indonesia, Korea and Japan. It is regularly ranked among the region’s leading law firms by Chambers & Partners, The Legal 500 and IFLR1000.