HP Adhesives, the stock of the multi-category consumer adhesives and sealants company, will debut tomorrow Monday, December 27.
Analysts said the company’s gray market premium (GMP) was Rs 80 on December 25, and listing gains are expected to be in the range of 20-30% on December 27 on the stock exchanges. .
HP Adhesives shares will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
The company’s initial public offering (IPO), open for subscription on December 15 and closed on December 17, was multiplied by 20.96.
It collected offers for 5.29 crore of shares against an IPO size of 25.28 lakh units. Individual investors showed maximum interest in the issue since their reserved portion was subscribed 81.24 times.
The portion of non-institutional investors was counted 19.04 times, and a portion reserved for qualified institutional buyers was subscribed 1.82 times.
The issue earned the company Rs 126 crore in the upper price range of Rs 274 per share.
The company manufactures a wide range of adhesives and sealants for consumers such as PVC, cPVC and uPVC solvent-based adhesives, synthetic rubber adhesives, PVA adhesives, silicone sealants, acrylic sealants, shellac gaskets. , other sealants and lubricants for PVC pipes.