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HP Adhesives Limited IPO (HP Adhesives IPO) Detail

Dec 15, 2021 - Dec 17, 2021

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 Financials

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in Millions)
30-Sep-21 31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 1,049.10 897.78 568.11 567.17
Total Revenue 727.32 1,238.79 979.07 879.76
Profit After Tax 31.02 100.59 - 46.70 40.00

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 IPO Details

IPO Date Dec 15, 2021 to Dec 17, 2021
Listing Date Monday, December 27, 2021
Face Value ₹10 per share
Price ₹262 to ₹274 per share
Lot Size 50 Shares
Issue Size4,597,200 shares of ₹10
(aggregating up to ₹125.96 Cr)
Fresh Issue4,140,000 shares of ₹10
(aggregating up to ₹113.44 Cr)
Offer for Sale457,200 shares of ₹10
(aggregating up to ₹12.53 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
QIB Shares OfferedNot less than 75% of the Net offer
NII (HNI) Shares OfferedNot more than 15% of the offer
Retail Shares OfferedNot more than 10% of the issue
Company Promoters

Anjana Haresh Motwani and Karan Haresh Motwani are the company promoters.

HP Adhesives IPO Tentative Timetable

HP Adhesives IPO opens on Dec 15, 2021, and closes on Dec 17, 2021. The HP Adhesives IPO bid date is from Dec 15, 2021 10.00 A.M. to Dec 17, 2021 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Tentative Date
Opening Date Dec 15, 2021
Closing Date Dec 17, 2021
Basis of Allotment Dec 22, 2021
Initiation of Refunds Dec 23, 2021
Credit of Shares to Demat Dec 24, 2021
Listing Date Dec 27, 2021

HP Adhesives IPO Lot Size

The HP Adhesives IPO lot size is 50 shares. A retail-individual investor can apply for up to 14 lots (700 shares or ₹191,800).

Application Lots Shares Amount
Retail (Min) 1 50 ₹13,700
Retail (Max) 14 700 ₹191,800

HP Adhesives IPO Promoter Holding

Pre Issue Share Holding 95%
Post Issue Share Holding 71%

HP Adhesives IPO Review

Based on the financial data, the prima facie issue is fully priced. It holds promises for better performance and earnings going forward with added capacities and a strong client list. In other words, it is a mini Pidilite in the making. Cash surplus investors may consider investment for the medium to long term rewards. Listing in T group will restrict speculative moves for initial periods. Read detail review...


HP Adhesives IPO Subscription Status (Bidding Detail)

The HP Adhesives IPO is subscribed 20.96 times on Dec 17, 2021 5:00:00 PM. The public issue subscribed 81.24 times in the retail category, 1.82 times in the QIB category, and 19.04 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB1.82
NII19.04
Retail81.24
Total20.96

HP Adhesives IPO Prospectus

HP Adhesives IPO Rating

627
3.8
Rating:Rated 3.8 stars
Vote Here ...

HP Adhesives IPO Listing Date

Listing Date Monday, December 27, 2021
BSE Script Code 543433
NSE Symbol HPAL
Listing In T Group of Securities
ISIN INE0GSL01016
IPO Price ₹274 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹274.00
₹319.00
₹319.00
₹334.95
₹334.95
NSE
₹274.00
₹315.00
₹315.00
₹330.75
₹330.75

Company Contact Information

HP Adhesives Limited
11, Unique House, Chakala Cross Road,
Andheri East, Mumbai – 400 099,
Maharashtra, India.
Phone: 022 68196300
Email: investors@hpadhesives.com
Website: https://www.hpadhesives.com/

HP Adhesives IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

HP Adhesives IPO Review

HP Adhesives IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 2 1 1
Members 0 0 0

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IPO Broker Recommendations

HP Adhesives IPO FAQs

HP Adhesives IPO is a main-board IPO of 4,597,200 equity shares of the face value of ₹10 aggregating up to ₹125.96 Crores. The issue is priced at ₹262 to ₹274 per share. The minimum order quantity is 50 Shares.

The IPO opens on Dec 15, 2021, and closes on Dec 17, 2021.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in HP Adhesives IPO using UPI as a payment gateway. Zerodha customers can apply in HP Adhesives IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in HP Adhesives IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'HP Adhesives IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The HP Adhesives IPO opens on Dec 15, 2021 and closes on Dec 17, 2021.

HP Adhesives IPO lot size is 50 Shares and the minimum order quantity is .

You can apply in HP Adhesives IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for HP Adhesives IPO will be done on Dec 22, 2021, and the allotted shares will be credited to your demat account by Dec 24, 2021. Check the HP Adhesives IPO allotment status.

The HP Adhesives IPO listing date is on Monday, December 27, 2021.
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HP Adhesives IPO Message Board

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293 Comments

143. K.Atar |   Link |Dec 31, 2021 10:49:24 PM
IPO Mentor IPO Mentor (900+ Posts, 500+ Likes)
Before everyone goes to sleep:

HAPPY NEW YEAR TO ALL OF YOU, MAY THIS NEW YEAR BRINGS ALL JOYS, HEALTH, WEALTH AND ALL THAT TRULY MATTERS TO YOU.

GOD BLESS YOU AND YOUR FAMILY.

HAPPY NEW YEAR.. 🔥🔥💐💐🎉🎉🎊🎊
142. arunARUN |   Link |Dec 26, 2021 1:51:41 PM
IPO Guru IPO Guru (1600+ Posts, 1400+ Likes)
NSE active client (those who traded atleast once in last 12 months) base grows from nearly 1.1 crore in March 2020 (10 to 15 days of covid lockin) to nearly 3 crore by November 2021

NSE active clients 299.28 lakh


Zerodha Broking 54,84,447
Rksv Securities 42,61,522
Angel Broking 28,61,515
Nextbillion Technology 26,71,173
ICICI Securities 26,05,215
5Paisa Capital 13,36,132
Kotak Securities 10,65,692
HDFC Securities 10,37,145
IIFL Securities 7,98,795
Motilal Oswal Financial Services 7,67,316
Sharekhan 7,60,033
Axis Securities 4,18,860
Sbicap Securities 4,04,143
Paytm Money 2,95,427
Geojit Financial Services 2,33,244
Fno India Securities 2,14,839
Edelweiss Broking 1,81,029
Religare Broking 1,56,673
SMC Global Securities 1,56,378
Alice Blue Fin Svcs 1,47,304
Choice Equity Broking 1,38,186
Nirmal Bang Securities 1,31,900
Marwadi Shares & Finance 1,23,516
Reliance Securities 1,20,336
Ventura Securities 1,16,487
Anand Rathi Share & Stock Brokers 1,00,753
Fyers Securities 92,386
Jainam Share Consultants 86,062
SAMCO Securities 79,878
Tradebulls Securities 71,818
Profitmart Securities 66,763
Aditya Birla Money 65,752
Swastika Investmart 64,937
NJ India Invest 64,150
Finwizard Technology 62,101
IDBI Capital Markets & Securities 60,283
Monarch Networth Capital 58,902
JM Financial Services 54,916
SHCIL Services 54,876
Master Capital Services 54,297
Dhani Stocks 51,089
Bonanza Portfolio 50,005
Bajaj Financial Securities 45,330
Jhaveri Securities 45,006
Globe Capital Market 44,891
Sushil Financial Services 44,496
VNS Finance & Capital Services 44,308
Integrated Enterprises 43,360
Astha Credit & Securities 42,158
Arihant Capital Markets 41,350
Prabhudas Lilladher 38,147
Goodwill Wealth Management 36,401
Suresh Rathi Securities 35,673
Shri Parasram Holdings 34,172
LKP Securities 33,644
Way2Wealth Brokers 29,053
ACML Capital Markets 28,732
Shriram Insight Share Brokers 28,408
Econo Broking 26,876
Yes Securities 25,292
Asit C Mehta Investment Interrmediates 23,452
KIFS Trade Capital 23,060
Prudent Broking Services 20,983
South Asian Stocks 20,906
Navia Markets 20,526
142.1. Amit Pathak |   Link |Dec 26, 2021 8:23:51 PM
Apko kya lagata agle 5 year tak 6 crore ho jayenege ?
142.2. arunARUN |   Link |Dec 26, 2021 8:36:49 PM
IPO Guru IPO Guru (1600+ Posts, 1400+ Likes)
@Amit Pathak
Any thing can happen. 5 year is a long period. In April 2014 this count was just 45 lakh.
Growth of digital broking has raised account growth faster. I wont be surprised if by end December 2025 (4 year from now) it crosses 6 crores
141. PSR |   Link |Dec 23, 2021 4:50:48 AM
IPO Guru IPO Guru (1200+ Posts, 700+ Likes)
Got 55 (1.1 Lot) shares against 1000 (20 Lots) shares applied for.
141.3. lokes |   Link |Dec 25, 2021 7:21:03 PM
IPO Guru IPO Guru (3700+ Posts, 4200+ Likes)
@PSR: I normally don''t buy more when already allotted in ipo , since i don''t keep much exposure in single share. Anyways It depends on individual risk perspective. Since here issue size is less, so it will be easy to control by operators and it can move to LC/UC after listing (probably UC).
And i feel if it gives good listing and hitting UC for some days after listing, then you may book good profit once from your allotted shares, and later buy again on dips for long term. Also if listing is with good premium of 20-30% suppose then keep strict stoploss at 10am to protect profit, if it hits LC by chance.

I may take some risk here to buy in preopen for short term play, will decide as per market conditions on monday and as per price movement in preopen.
I have given my initial views here for this ipo, you might have seen i think :
https://www.chittorgarh.com/ipo/ipo_discussions.asp?a=1194&c=483741&ap=0
141.4. PSR |   Link |Dec 26, 2021 4:52:32 AM
IPO Guru IPO Guru (1200+ Posts, 700+ Likes)
Thank you Mr. lokes for your valuable views and also for sparing your time.

I am not a believer of "Stop loss" theory, I never followed and I will never follow.

I decided to stick to my decision to keep the allotted shares for long-term irrespetive of its listing price and price movement thereafter, as the amount involved is only Rs. 15,070, which is not so significant, as I strongly believe that it will be multi-bagger over a period of time, considering the business in which it is engaged and also low capital base (which less than Rs. 19 crores). Further, I do feel that the market leader "PIDILITE IND" is aging company and it may not repeat its outperformance in future, which likely to leave some room to the competitors to grow. Alternatively, it may even become laggard, for which I am prepared now itself.

When it is coming to the question of adding, I will try to add 45 shares more so as to make 100 shares in total, if I get around Rs. 325, which appears to be difficult. Of course I am not in hurry, as I would be watching price movements on day to say basis.

Thank you once again.

140. ANALYTIC DADA |   Link |Dec 23, 2021 12:24:46 PM
PLEASE DONT GO BY CURRENT GMP AND SELL BLINDLY.
MEDI PLUS KO DEKHO. BEAT ALL STREET EXPECTATIONS
140.1. arunARUN |   Link |Dec 26, 2021 8:37:55 PM
IPO Guru IPO Guru (1600+ Posts, 1400+ Likes)
Why are you equating this company with Medplus Any reason?
139. JAI MATA DI |   Link |Dec 26, 2021 9:11:39 PM
IPO Mentor IPO Mentor (600+ Posts, 500+ Likes)
H P ADHE. PREMIUM. 90---100
138. Deepakjain |   Link |Dec 26, 2021 7:53:50 PM
Latest gmp Kaya ha
137. Deepakjain |   Link |Dec 26, 2021 7:53:28 PM
Latest gmp Kaya ha
136. arvindarvind |   Link |Dec 25, 2021 5:53:30 PM (300+ Posts)
Is their any hope to list more than double?
136.1. PSR |   Link |Dec 25, 2021 6:00:21 PM
IPO Guru IPO Guru (1200+ Posts, 700+ Likes)
No.

Even 50% premium is very very difficult.
136.2. anantagg |   Link |Dec 25, 2021 11:50:32 PM
I am 100% sure it will list at more than Rs 125 Premium. Mark my words.
135. Dalal |   Link |Dec 25, 2021 3:41:37 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Anyone have any idea about septa sir and eagleeye
134. Dalal |   Link |Dec 25, 2021 3:40:21 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Highest listing ever in a month
133. Dalal |   Link |Dec 25, 2021 3:36:09 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
GMP 80
132. RSHAH |   Link |Dec 23, 2021 1:28:07 PM
Please give suggestion about HP To hold , sell or add on listing , It may be in 5% circuit ban for first 10 days
Grey market showing only 25% gain ,
132.1. DuckkyDuck |   Link |Dec 24, 2021 1:05:11 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
How come 25% gain is "only"??
132.2. Makxykx |   Link |Dec 25, 2021 9:54:09 AM (200+ Posts)
lol.... thats hillarious
131. ANALYTIC DADA |   Link |Dec 24, 2021 12:24:53 PM
Latest GMP Rs 80.
Sell only above Rs 375.
130. bAAz |   Link |Dec 23, 2021 10:12:33 PM
IPO Mentor IPO Mentor (500+ Posts, 300+ Likes)
Gmp 60
129. bAAz |   Link |Dec 23, 2021 10:01:48 PM
IPO Mentor IPO Mentor (500+ Posts, 300+ Likes)
Gmp 60
128. dinesh bhadada |   Link |Dec 23, 2021 7:42:50 PM
GOT 1 OUT OF 5
127. Rafiq |   Link |Dec 23, 2021 6:43:48 PM
Top Contributor Top Contributor (400+ Posts, 400+ Likes)
0/1 again
126. Amit Jaipur |   Link |Dec 23, 2021 12:18:36 PM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
Anyone Having Updated GMP
126.1. ANALYTIC DADA |   Link |Dec 23, 2021 12:25:39 PM
400 MEN KHULEGA DOST
126.2. Amit Jaipur |   Link |Dec 23, 2021 4:14:33 PM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
Thanx bandhu
125. kamalesh |   Link |Dec 23, 2021 1:19:15 PM
Huge Demand. Hold for Long Term
124. Bill Gates |   Link |Dec 23, 2021 12:53:17 PM
it seems IPO market had a wonderful 2021 and hope that the spirit continues in the coming year 2022....