HP Adhesives IPO on Dec 15: Check price band, issue date, GMP & other key details

The initial public offering (IPO) of HP Adhesives will go live for subscription on December 15, Wednesday. The company has set a price band of Rs 262-274 per equity share. The initial offering will conclude on December 17, Friday. The consumer adhesives and sealants firm is planning to raise Rs 125.96 crore.

The IPO consists of Rs 133.44 crore worth of fresh issues, while an OFS (Offer for Sale) of 457,200 shares by Anjana Haresh Motwani. The funds generated from the public offering will be utilised for working capital requirements and expanding its production capacity at Narangi village manufacturing facility in Maharashtra's Raigad district.

HP Adhesives IPO: From issue date, lot size to the allotment, all key details

• HP Adhesives IPO date: December 15- December 17
• Price band: Rs 262-274 per share
• Lot size: One lot contains 50 shares and in multiples thereafter.
• IPO size: The Rs 125.96 crore-IPO includes fresh issuance of shares worth Rs 133.44 crore and an OFS of 4.57 lakh shares.
• Likely HP Adhesives IPO share allotment date: December 22
• Likely HP Adhesives IPO listing date: December 27 on BSE and NSE
• HP Adhesives  IPO GMP: So far there is no detail available about the grey market premium of the upcoming public issue

75% of the issue will be reserved for qualified institutional buyers (QIBs). For non-institutional buyers (NIBs) and Retail individual investors (RIIs), 15% and 10% of the offer is reserved, respectively.

In the six-month period ending on September 2021, the firm reported a net profit of Rs 3.1 crore with a revenue of Rs 72.73 crore. In FY2021, the company's profit was Rs 10,06 crore against a loss of Rs 4.67 crore in the same period a year ago.

About HP Adhesives

Founded by Haresh Motwani, HP Adhesives is one of the most renowned brands in plumbing adhesives. It manufactures a wide range of sealants and adhesives such as PVC, CpVC and uPVC solvent cement, PVA adhesives, synthetic rubber adhesive, acrylic sealant, silicone sealant, gasket shellac, PVC pipe lubricants among others.

"Also, from a small customer base during the early years, today Company has a pan-India distribution network of more than 750 distributors in 23 states and 4 union territories who in-turn cater to more than 50,000 dealers. We also sell to customers in 21 countries across the globe," the company informed on its website.

(Image: HPAdhesives.com/Shutterstock)