Investors who could not get the shares of HP Adhesives may see the refunds being initialised on 23 December. This process will be done after the finalisation of the share allotment.
Representational image. Firstpost
The shares of HP Adhesives are expected to be allotted today, 22 December. The company’s three-day Initial Public Offering (IPO) was subscribed 20.96 times, as per news reports, attracting bids for 5.29 crore equity shares against issue size of 25.28 lakh shares.
The subscription was open for the bidders from 15 to 17 December, 2021. The adhesives and sealants company aimed to garner Rs 126 crores, out of which 113.43 crores were to be raised through the fresh issue and 12.52 crores through offer-for-sale (OFS) by Anjana Haresh Motwani, according to reports. The HP Adhesives shares were priced at Rs 262-274 apiece.
Investors who could not get the shares of HP Adhesives may see the refunds being initialised on 23 December. This process will be done after the finalisation of the share allotment.
The successful bidders will see the shares reflect in their Demat accounts on 24 December. The share allotment can be checked at both the website of the Bombay Stock Exchange (BSE) as well as the website of the Registrar of the issue, Bigshare Services Pvt Ltd, as per reports.
The shares of HP Adhesives are expected to be listed on 27 December on both the BSE and the National Stock Exchange (NSE).
The Qualified Institutional Buyers bid 1.82 times for the issue portion allotted to them while the portion set out for retail investors was subscribed 81 times. The issue reserved for Non-Institutional Investors (NII) was subscribed 19 times as per MoneyControl.
Steps to check the allotment of shares via BSE
- Visit the BSE’s official website at https://www.bseindia.com/investors/appli_check.aspx
- On the website, select issue type – Equity, and issue name – HP Adhesives
- Key in your PAN number and Application Number
- Click on search button after checking the box which reads – ‘I’m not a robot’
- The HP Adhesives allotment status will be visible on your screen
Direct link: https://www.bseindia.com/investors/appli_check.aspx
Steps to check the allotment of shares on the Registrar’s website:
- Visit the official website of the Registrar at https://www.bigshareonline.com/ipo_Allotment.html
- On the homepage, select company name – HP Adhesives
- Key in any of the details – Application Number/ PAN number/ DP/Client ID/ Account Number/ or IFSC
- Click on submit button after entering the captcha
- The HP Adhesives allotment status will be visible on your screen
Check direct link here: https://www.bigshareonline.com/ipo_Allotment.html
HP Adhesives will use the proceeds for expansion of production capacity at its existing manufacturing facility in Raigad of Maharashtra, and at an additional unit at the same area. The proceeds will also be used for company’s working capital requirements. The adhesives and sealants company will also expand its existing installed capacities through the money raised from the public issue.
In the Financial Year 2021, HP Adhesives gained a profit of Rs 10.06 crore against a loss of Rs 4.67 crore in FY 2020. The company also increased its revenue to Rs 118.16 crore from Rs 95.47 crore in the same period.
