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Hp Adhesives goes to the list on Bse, Nse today;  Here is what Gmp suggests

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Hp Adhesives goes to the list on Bse, Nse today; Here is what Gmp suggests

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HP Adhesives shares will be listed on the BSE and NSE stock exchanges on Monday, December 27. HP Adhesives, a Mumbai-based adhesives and sealants maker, was commanding a premium on the gray market – an unofficial market for unlisted securities – before listing on Dalal Street. Dealers said (IPO) that the GMP or gray market premium of HP Adhesives stood at Rs 80 on Friday.

HP BPF Adhesives

Dated BPF in rupees
December 24 80
23 december 80
December 22 50
December 21 50
December 20
December 19
December 18
Dec 17
December 16
December 15

Source: IPO Watch

HP Adhesives’ debut on BSE and ESN comes at a time when most IPOs have received a strong response from investors, although the recent sale has reduced the appeal of a few newbies.

The IPO of HP Adhesives, which combined a new issue and an offer to sell (OFS) of shares open at auction from December 15 to 17, saw an aggregate subscription of nearly 21 times the shares offered. The issue received offers for 5.3 crore of shares against 25.3 lakh of shares offered.

The portion reserved for retail investors was subscribed 81.2 times and that for non-institutional subscribers 19 times. The Qualified Institutional Buyers (QIB) category registered a reservation 1.8 times.

HP Adhesives shares were available to bid in a price range of Rs 262-274 as part of the IPO, in multiples of 50.

Of the entire HP Adhesives IPO, 75% was reserved for QIBs, 15% for NIIs and 10% for retail investors.

HP Adhesives aims to use the proceeds of the IPO to fund its working capital requirements and capital expenditures for capacity expansion.

Hp Adhesives goes to the list on Bse, Nse today; Here is what Gmp suggests

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