HP Adhesives IPO lists at 14.96% Premium; Edges Higher

HP Adhesives had a strong listing on 27th December and listed at a premium of 14.96%. However, even with the strong listing, the stock made further gains through the day and closed much stronger. The stock not only closed above the issue price but also well above the listing price on 27-December.

With 20.96 times subscription and even with limited action in the grey market, HP Adhesives IPO was always expected to list at a premium to the issue price. However, actual listing was much better  than expected as was the ability of the stock to sustain higher levels. Here is the HP Adhesives listing story on 27th Dec.

The IPO price was fixed at the upper end of the band at Rs.274 which was not surprising considering that the issue was subscribed 20.96 times overall with strong contribution from the HNI and the Retail segment. 
The price band for the IPO was Rs.262 to Rs.274. On 27th Dec, the stock of HP Adhesives listed on the NSE at a price of Rs.315, a premium of 14.96% on the issue price of Rs.274. On the BSE also, the stock listed at Rs.319 a premium of 16.42% on the issue price.

On the NSE, HP Adhesives closed on 27th Dec much stronger at a price level of Rs.330.75, a first day closing premium of 20.71% on the issue price of Rs.274. The closing price was also 5% above the listing price due to the late rally in the stock. 

On the BSE, the stock closed at Rs.334.95, a first day closing premium of 22.24% on the issue price, but the stock closed 5% above the listing price. On both the exchanges, the stock listed at a healthy premium to the issue price, and during the day the stock continued to build on the early gains.

On Day-1 of listing, HP Adhesives touched a high of Rs.330.75 on the NSE and a low of Rs.315, closing at the highest point of the day. On Day-1 of listing, the HP Adhesives stock traded a total of 7.31 lakh shares on NSE amounting to value of Rs.23.27 crore.  On 27-Dec, HP Adhesives was not among the  most active stocks on the NSE.

On the BSE, HP Adhesives touched a high of Rs.334.95 and a low of Rs.319, closing exactly at the high point of the day. On the BSE, the stock traded a total of 1.95 lakh shares amounting to value of Rs.6.52 crore. On 27-Dec, HP Adhesives was not among the  most active stocks on the BSE.

At the close of Day-1 of listing, HP Adhesives had a market capitalization of Rs.615.47 crore with free-float market cap of Rs.86.17 crore.

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