HP Adhesives IPO gets listed at 16% premium

HP Adhesives post IPO
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HP Adhesives IPO, which opened for subscription on December 15th has been subscribed 20.96 times at the end of the final day of the issue. The company had looked to raise Rs 125.96 crore. The IPO got listed at 16% premium at Rs 315.

HP Adhesives IPO: Subscription details 

The portion reserved for Qualified institutional investors making up 75% of the issue, got subscribed by 1.82 times. Non-institutional investors' portion saw an overall subscription of 19.04 times. Retail portion saw the highest demand, with the portion reserved for them (10%) getting an overall subscription of 81.24 times. The details of subscription numbers across categories is listed below. 

CategorySubscription (times)
QIB1.82
NII19.04
Retail81.24
Total20.96

HP Adhesives IPO: INDmoney review recap

INDmoney had given a Positive rating on the issue

“Given the company’s strong product profile, healthy rise in topline, strong market share, improving financial profile, and strong runway for growth, we remain “Positive” on the long-term prospects of the issue.,” we had said in our December 13th report. 

HP Adhesives IPO allotment date

The finalization of Basis of Allotment for HP Adhesives IPO will be done on Dec 23, 2021, and the allotted shares will be credited to your demat account by Dec 24, 2021.

HP Adhesives IPO listing date

The HP Adhesives IPO got listed on Dec 27, 2021 with 16% premium at Rs 319 against IPO price of Rs 274. The stock price further rallied to Rs 330 at the end of the day. 
 

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