HP Adhesives Limited Initial Public Offering (IPO) On Friday, the last day of subscription was subscribed 20.96 times. The IPO received bids for 5,29,89,650 shares as against 25,28,500 shares on offer. The IPO had a price limit of up to 45,97,200 equity shares. 262-274 per share. The IPO of HP Adhesives was open for public subscription from December 15 to 17.
The retail individual investors (RIIs) category was subscribed 81.24 times, non-institutional investors 19.04 times, and qualified institutional buyers (QIBs) 1.82 times.
The finalization of the basis for share allotment of HP Adhesives IPO is expected to take place tomorrow, December 22, 2021 and, if allotted, the shares will be credited to the demat account of the bidders on December 24, 2021. The registrar for this IPO is BigShare. Services Private Limited, so the allotment application can be checked on its website Here or on BSE website Here,
According to market experts, the shares of HP Adhesives have been rising 75 premium (GMP) in gray market today. The company’s shares are expected to be listed on the major stock exchanges NSE and BSE next week on Monday, December 27.
The IPO consisted of a fresh issue of 4.14 million shares and an offer for sale of 457,000 shares by its promoter Anjana Haresh Motwani. The company aims to use the proceeds to fund capital expenditures for the proposed expansion and to support incremental working capital requirements.
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