HP Adhesives IPO Subscription Status Day 1: Issue subscribed 3.48 times; retail portion booked 18.57 times

HP Adhesives Limited initial public offer (IPO) was fully subscribed within an hour of opening of the issue on Day 1 on Wednesday, Till 05:00 pm, the issue is booked 3.48 times. Against 25,28,500 shares on offer, bids for 87,96,050 shares were received at 5:00 pm on the first day.  

Around the same time, retail investors subscribed the issue 18.57 times. The NIIs portion was booked 0.38 times, while QIBs were yet to participate in an IPO that has been witnessing huge traction on the Day 1.  

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The three-day offer will close on December 17, 2021. One of the fastest growing multi-products, multi-category consumer adhesives and sealants company in its segment, HP Adhesives Limited has fixed the price band at Rs 262 to Rs274 per equity share.  

As per the company, around 4.6 million shares will be offered in the Rs 126 crore issue. The IPO comprises a fresh offer of 4.14 million shares for Rs 113.4 crore and an offer for sale of about 457,000 shares by shareholder Anjana Haresh Motwani aggregating up to Rs 12.5 crore. 

Earlier on Tuesday, December 14, HP Adhesives mopped up Rs 56.68 crore from three anchor investors, ahead of its initial public offering (IPO).