The three-day initial public offering (IPO) of HP Adhesives Limited was subscribed 20.96 times on the last day of subscription on Friday. The IPO received bids for 5,29,89,650 shares as against 25,28,500 shares on offer. The IPO of HP Adhesives was open for public subscription from December 15 to 17, 2021.
The finalization of the basis for share allotment of HP Adhesives IPO is expected to take place today, December 22, 2021 and, if allotted, the shares will be credited to the demat account of the bidders on December 24, 2021. The registrar for this IPO is BigShare. Services Private Limited, hence the status of allotment application can be checked on its website Here or on BSE website Here,
Adhesives and Sealants The company’s initial share sale included a fresh issue of up to 4.14 million shares and an offer for sale of 457,000 shares by its promoter Anjana Haresh Motwani. The company aims to use the proceeds to fund capital expenditures for the proposed expansion and to support incremental working capital requirements.
According to market experts, the shares of HP Adhesives have been rising 75 premium (GMP) in the gray market. The company’s shares are expected to be listed on the major stock exchanges NSE and BSE next week on Monday, December 27.
The IPO had a price limit of up to 45,97,200 equity shares. 262-274 per share. The retail individual investors (RIIs) category was subscribed 81.24 times, non-institutional investors 19.04 times, and qualified institutional buyers (QIBs) 1.82 times.
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