HP Adhesives announces launch of initial public offering
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HP Adhesives Ltd. has announced public offering of 4597200 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 252.00 per share.
The gross proceeds of the issue are expected to be Rs 12,044.66 lakhs. The company's initial public offer (IPO) will open on 15 December 2021 and is expected to close on 17 December 2021, subject to customary closing conditions.
The price band of the issue has been fixed at Rs 262.00-274.00 per share. The IPO includes a fresh Issue of 4597200 Equity Shares of the Company at an price of Rs 262.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 50 shares with bids in multiples of 50.
HP Adhesives Ltd. anticipates using the proceeds of the issue for to expand the existing installed capacities for the existing product lines to enable us to also add new products to the existing product portfolio General corporate purposes.
Unistone Capital Private Limited as lead manager & Bigshare Services Pvt. Ltd. is the registrar, to the issue.
