INSUBCONTINENT EXCLUSIVE:
Shares of HP Adhesives will note on the bourses on December 27HP Adhesives, the multi-category customer adhesives and sealants company's
shares will debut on the stock market tomorrow on Monday, December 27
According to analysts, the grey market premium (GMP) of the company was Rs 80 on December 25 and it is expected that the listing gains could
be in the range of 20 per cent to 30 percent on December 27 at the bourses.HP Adhesives' shares will note both on the national stock
exchange (NSE) and Bombay stock exchange (BSE)
The initial public offer (IPO) of the company, which had actually opened for subscription on December 15 and had closed on December 17, was
20.96 times.It garnered bids for 5.29 crore equity shares against an IPO size of 25.28 lakh units
Retail financiers revealed the maximum interest in the issue as their reserved portion was subscribed 81.24 times.Non-institutional
investors' part was booked 19.04 times, and a part set aside for qualified institutional purchasers saw 1.82 times subscription.The concern
brought the company Rs 126 crore at the upper rate band of Rs 274 per share.The company manufactures a wide range of consumer adhesives and
sealants such as PVC, cPVC and uPVC solvent cement, artificial rubber adhesive, PVA adhesives, silicone sealant, acrylic sealant, gasket
shellac, other sealants and PVC pipeline lube
