Moneycontrol PRO
UPCOMING EVENT:Special webinar on Highlights of global investing in 2021 and what lies ahead' at 2 pm on 21st January, 2022. Register Now!
you are here: HomeNewsBusinessIPO

HP Adhesives IPO to open on December 15, close on December 17

The offer will constitute 25.02 percent of the post-offer paid-up equity share capital of the company, as per the red herring prospectus filed with the Registrar of Companies.

December 08, 2021 / 09:28 AM IST
HP Adhesives IPO

HP Adhesives IPO

HP Adhesives, a multi-product, multi-category consumer adhesives and sealants company, will launch its maiden public offer on December 15 and the subscription will continue till December 17, 2021.

The initial public offer of 45.97 lakh equity shares comprises a fresh issue of 41.40 lakh equity shares and an offer for sale of 4.57 lakh equity shares by selling shareholder Anjana Haresh Motwani.

The offer will constitute 25.02 percent of the post-offer paid-up equity share capital of the company, as per the red herring prospectus filed with the Registrar of Companies.

Click Here To Know All IPO Related News

The fresh issue proceeds will be utilised for working capital requirements, and expansion of production capacity at existing manufacturing facility at Village Narangi, Raigad, Maharashtra and at the additional unit on the adjacent plot.

Close

Also readShriram Properties mops up Rs 268.65 crore from anchor investors ahead of IPO

The company will also expand existing installed capacities for existing product lines; and add new products to existing product portfolio, through fresh issue money.

In its largest product category – PVC solvent cement, HP Adhesives is amongst the leading manufacturing companies in India in the consumer/ bazaar segment of the adhesive industry.

The company also manufactures products for select large PVC pipe manufacturing companies under co-branding or private label on order basis. Its adhesives and sealant products are used in multiple industries such as plumbing and sanitary, drainage and water distribution, general purpose building/ construction and interior operations as well as for glazing operations, woodwork, footwear, automotive, foam-furnishing and other varied industries.

Also readMapmyIndia IPO: 10 key things you must know before December 9 issue launch

HP Adhesives clocked a profit of Rs 10.06 crore in the financial year FY21 against loss of Rs 4.67 crore in previous year, but revenue increased to Rs 118.16 crore from Rs 95.47 crore in the same period.

Profit in the six-month period ended September 2021 jumped to Rs 3.1 crore, compared to Rs 2.93 crore in the corresponding period last fiscal. During the same period, revenue surged to Rs 70.51 crore from Rs 44.92 crore.

Also readRakesh Jhunjhunwala-backed Star Health trading at discount in grey market. How will it impact listing?

Unistone Capital is the book running lead manager to the offer, while Bigshare Services is the registrar.
Moneycontrol News
first published: Dec 8, 2021 09:27 am

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark