HP Adhesives IPO allotment status now online; Check GMP, listing today

Adhesives and sealants company, HP Adhesives IPO listing is today. The company's shares will be listed and admitted to dealings on stock exchange platforms Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in the list of 'T' Group of Securities in a special pre-open session, data on BSE website suggested. Investors can check HP Adhesives IPO share allotment status now as it is available online. Notably, HP Adhesives IPO GMP (grey market premium) is high. In fact, according to market experts, the share of HP Adhesives Limited may have a strong debut with the expected range of Rs. 310 to Rs. 350 per share levels.

According to Manoj Dalmia, Founder & Director at Proficient Equities Limited, HP Adhesives IPO listing is likely to give up to 30 per cent premium to the allottees as HP Adhesives IPO GMP is high and share listing is expected around Rs. 350 per share levels, Live Mint reported. Also, he mentioned that the market sentiments will be the key to the strong opening of the stock market today which may further spike the listing price.

The Mumbai-based company intends to raise Rs. 126 crores from the market, with Rs. 113.43 crores coming from a new share offering and Rs. 12.52 crores coming from an offer-for-sale. The subscription period lasted from December 15 to December 17. HP Adhesives IPO was subscribed 20.96 times on the last day of subscription on December 17. The IPO received bids for 5,29,89,650 shares against 25,28,500 shares on offer, according to data from NSE. The announcement of HP Adhesives share allotment took place on December 22. The price band of the HP Adhesives was fixed at Rs. 262 and Rs. 274 per share.

HP Adhesives IPO GMP

According to IPO Watch, HP Adhesives IPO GMP (grey market price) is at Rs. 90 today, which is Rs. 10 higher than yesterday's GMP of Rs. 80. Market watchers mentioned that HP Adhesives' share price has been able to sustain its premium in the grey market in the range of Rs. 60 to Rs. 90 over the past week, indicating that the company's shares have settled down in the grey market. The recent positive sentiments in the primary markets has helped HP Adhesives to maintain its position in the grey market.