HP Adhesives IPO: The IPO of HP Adhesives, a company that manufactures sealants like consumer adhesives, PVC pipe lubricants, PVC, CPVC, UPVC, has opened today.
HP Adhesives IPO: The IPO of HP Adhesive, a company manufacturing sealants like Consumer Adhesives, PVC Pipe Lubricants, PVC, CPVC, UPVC, has opened today. In this IPO of Rs 126 crore, investors will be able to invest till the last trading day of this week i.e. December 17. Under this IPO, new equity shares worth Rs 113 crore will be issued. The money raised through the IPO will be used to fund the company’s expansion plan and for other capital requirements.
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HP Adhesives IPO Details
- HP Adhesive’s IPO of Rs 126 crore will be open till December 17.
- Under the IPO, new shares worth Rs 113 crore will be issued. Apart from this, 41.40 lakh equity shares will be sold under the offer for sale (OFS).
- The face value per share is Rs 10.
- The price band for the issue has been fixed at Rs 262-274 per share.
- The lot size is 50 shares i.e. according to the upper price of the price band, investors will have to invest at least Rs 13700.
- Under the issue, 75 per cent equity is reserved for qualified institutional investors (QIBs), 10 per cent for retail investors and 15 per cent for non-institutional investors.
- The allotment of shares can happen on December 22 and the date for listing has been fixed for December 27.
- The money raised through the issue will be used to meet working capital requirements, expansion of production capacity of the existing manufacturing facility in Maharashtra and funding for an additional unit.
- The registrar for the issue is BigShare Services.
Company related details
- HP Adhesives is an Adhesives and Sealants company. It manufactures a wide variety of consumer adhesives and sealants and PVC pipe lubricants. These adhesives and sealants are used in a variety of industries including plumbing and sanitary, drainage and water distribution, construction of buildings, footwear, foam furnishing and many more.
- As per the data available till 30 September 2021, the company has a distribution network of 4 depots located in Delhi, Kolkata, Bangalore and Indore and more than 750 distributors serving 50,000 dealers across the country.
- Talking about the financials of the company, its net profit (Profit After Tax) has increased. The company had a net profit of Rs 4 crore in the financial year but in the next financial year 2020, there was a loss of Rs 4.67 crore. However, after this the company’s business recovered from the shocks of Corona and in the financial year 2021, there was a net profit of Rs 10.06 crore.
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