HP Adhesives shares to be listed on stock exchanges on December 27
Shares of HP Adhesives, a multi-category consumer adhesives and sealant company, will debut on the stock exchanges tomorrow, Monday, December 27.
According to analysts, the company’s gray market premium (GMP) stood at Rs 80 on December 25 and expects the listing gains to be in the range of 20 per cent to 30 per cent on December 27.
The shares of HP Adhesive will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
The company’s Initial Public Offer (IPO), which opened for subscription on December 15 and closed on December 17, was 20.96 times.
It received bids for 5.29 crore equity shares against an IPO size of 25.28 lakh units. Retail investors showed maximum interest in the issue as their reserves got subscribed 81.24 times.
The portion of non-institutional investors was booked 19.04 times, and the portion set aside for qualified institutional buyers was subscribed 1.82 times.
The issue fetched the company Rs 126 crore at the upper price band of Rs 274 per share.
The company manufactures a wide range of consumer adhesives and sealants such as PVC, CPVC and uPVC solvent cements, synthetic rubber adhesives, PVA adhesives, silicone sealants, acrylic sealants, gasket shellac, other sealants and PVC pipe lubricants.
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