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HP Adhesives debuts with 16% premium at Rs 319 per share

HP Adhesives | The company mopped up Rs 126 crore through its maiden public offer that saw strong demand from investors

December 27, 2021 / 10:01 AM IST
HP Adhesives

HP Adhesives

 
 
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HP Adhesives has started off the day on a strong note with the stock listing at a 16 percent premium over the issue price of Rs 274 per share, on December 27. It opened at Rs 319 on the BSE.

It was a small public issue in terms of size among the IPOs that were launched in December. The company mopped up Rs 126 crore through the offer that saw strong demand from investors.

The offer was subscribed 20.96 times during December 15-17 as the portion set aside for retail investors saw a whopping 81.24 times subscription and that of non-institutional investors saw 19.04 times subscription. A part set aside for qualified institutional buyers was subscribed 1.82 times.

The price band for the public issue was Rs 262-274 per equity share.