Public Market

IPO

HP Adhesives' IPO subscribed 21 times on final day

Economic Times  

The initial public offering (IPO) of Mumbai-based HP Adhesives has been subscribed 21 times on the last day. The issue saw applications for 5,29,89,650 shares against 25,28,500 shares on offer. The quota reserved for retail bidders was subscribed 81 times, whereas HNI allocation fetched 19 times. The issue consists of issuance of fresh equity shares worth INR 113.44 crore. Existing shareholders and promoters will offload 457,200 equity shares aggregating to INR 12.53 crore. HP Adhesives is selling its shares in the range of INR 262-274 apiece.