As against the current market momentum, the issue of HP Adhesives listed at a premium to issue price of Rs. 274 per share. The stock on the NSE and BSE listed at a price of Rs. 315 and Rs. 319 , respectively.
The IPO by the fast growing multi-category, multi-product consumer adhesives as well as sealants company listed in line with the grey market premium as well as robust subscription number. Also, the company shows strong growth potential.
Against the IPO size of 25.28 lakh units, the issue received subscription for 5.29 crore equity shares.
The company's product line includes PVC, cPVC and uPVC solvent cement, synthetic rubber adhesive, PVA adhesives, silicone sealant, acrylic sealant, gasket shellac, other sealants and PVC pipe lubricant. It also manufactures these products for some of the big PVC pipe manufacturing companies.