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HP Adhesives Limited IPO Detail

HP Adhesives Limited IPO Detail

HP Adhesives Limited is an adhesives and sealants company. The company manufactures a wide range of consumer adhesives and sealants such as PVC, cPVC, and uPVC solvent cement, synthetic rubber adhesive, PVA adhesives, silicone sealant, acrylic sealant, gasket shellac, other sealants, and PVC pipe lubricants. These adhesives and sealant products have applications in multiple industries such as plumbing and sanitary, drainage and water distribution, general-purpose building/ construction, and interior operations as well as for glazing operations, woodwork, footwear, automotive, foam-furnishing, and other varied industries. Apart from the above products, the company also sells ancillary products like ball valves, thread seals, and other tapes and FRP products for drainage and architectural solutions.

As of September 30, 2021, the company has a distribution network of 4 depots situated in Delhi, Kolkata, Bengaluru, and Indore and more than 750 distributors who cater to more than 50,000 dealers in India. The company's manufacturing facility is located at Village Narangi, Raigad (Maharashtra) which is a multi-product manufacturing facility. During the FY 2020-21, the company sold its products in 21 countries.

Competitive Strengths:

  • Growing company with established brand presence
  • Wide Product Portfolio and multiple SKUs
  • Diversified product portfolio with a diversified customer base
  • Extensive distribution network across India
  • Established presence in international markets
  • Large players as customers
  • Efficient manufacturing set-up with scope for expansion
  • Focus on quality
  • R&D set up for constant product improvement and new product development
  • Experienced management team with a committed employee base

Company Promoters

Anjana Haresh Motwani and Karan Haresh Motwani

IPO Details

IPO Opening DateDec 15, 2021
IPO Closing DateDec 17, 2021
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹262 - 274 per equity share
Market Lot50 Shares
Min Order Quantity50 Shares
Listing AtBSE, NSE
Issue Size₹125.96 Cr
Fresh Issue₹113.44 Cr
Offer for Sale₹12.53 Cr
Retail Portion 10%

IPO Subscription (Bidding Detail)

Day 1 0x 0.38x 18.57x 0x - 3.48x
Day 2 0.34x 1.9x 40.28x 0x - 8.03x
Day 3 1.82x 19.04x 81.24x 0x - 20.95x

IPO Tentative Timetable

The HP Adhesives Limited IPO open date is Dec 15, 2021, and the close date is Dec 17, 2021. The issue may list on Dec 27, 2021.

IPO Open DateDec 15, 2021
IPO Close DateDec 17, 2021
Basis of Allotment DateDec 22, 2021
Initiation of RefundsDec 23, 2021
Credit of Shares to Demat AccountDec 24, 2021
IPO Listing DateDec 27, 2021

IPO Lot Size

The HP Adhesives Limited IPO market lot size is 50 shares. A retail-individual investor can apply for up to 14 lots (700 shares or ₹191800).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding95.31%
Post Issue Share Holding

Company Financials:

For the year/period ended (₹ in Crs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 123.88 106.19 10.06
31-Mar-20 86.83 80.32 -4.73

Objects of the Issue:

  • Funding the working capital requirements of the company
  • Funding capital expenditure for expansion of production capacity at the existing manufacturing facility in Maharashtra and at the additional unit having a proposed construction area admeasuring about 4,532.57 sq. mtrs.

HP Adhesives Limited IPO Registrar:

Bigshare Services Pvt Ltd

HP Adhesives Limited IPO Lead Manager(s):

Unistone Capital Pvt Ltd