HP Adhesives IPO was subscribed 20.96 times on the final day of its issue
The initial public offer of HP Adhesives Limited was subscribed 20.96 times on the third and final day of its issue, according to subscription data on the stock exchanges. The IPO received bids for 5,29,89,650 shares against 25,28,500 shares on offer, according to NSE data.
On Friday, the category for retail individual investors (RIIs) was subscribed 81.24 times – the highest among the three groups of investors. The portion reserved for non institutional investors was subscribed 19.04 times, and the portion set aside for qualified institutional buyers (QIBs) was subscribed 1.82 times today.
The initial public offer (IPO) of HP Adhesives was subscribed 3.48 times on the first day of the offer on Wednesday following a strong response from retail investors. The IPO of up to 45,97,200 equity shares had a price range of Rs 262-274 per equity share.
The Rs 126-crore public issue of HP Adhesives comprised a fresh issue of Rs 113.43 crore and an offer for sale of Rs 12.52 crore by shareholder Anjana Haresh Motwani.
HP Adhesives Limited manufactures a wide range of consumer adhesives and sealants such as PVC, cPVC, and uPVC solvent cement, synthetic rubber adhesive, PVA adhesives, silicone sealant, acrylic sealant, gasket shellac, other sealants, and PVC pipe lubricants.
These adhesives and products have applications in multiple industries such as plumbing and sanitary, drainage and water distribution, woodwork, footwear, automotive, foam-furnishing, among others.
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