Adhesives and sealants company HP Adhesives made a strong market debut, closing at the day’s high with 22 percent gains, helped by positive market sentiment and a strong response to its initial public offering.
It opened at the day's low of Rs 319, rising 16.4 percent over the issue price of Rs 274 and settled at Rs 334.95 on the BSE. The stock was locked in a 5 percent upper circuit. Given the small issue size—below Rs 250 crore—the circuit limit is 5 percent on the higher and lower side compared to the opening tick.
On the National Stock Exchange, the stock rallied 20.71 percent to close at Rs 330.75, the day's high, after opening at the day's low of Rs 315.
HP Adhesives traded with volumes of 7.31 lakh equity shares on the NSE, and 1.95 lakh shares on the BSE.