HP Adhesives makes strong market debut; closes with 22% gains

The shares of HP Adhesives made a strong debut on the bourses on Monday. The stock got listed at Rs 319 — a 16.4 per cent premium to its issue price. The stock gained further and ended Monday’s session at Rs 334.95 — a 22.24 per cent premium to its issue price. After listing, the company has a market capitalisation of Rs 615.47 crore.

The initial public offering (IPO) of HP Adhesives was subscribed 21x. The institutional portion was subscribed 1.8x, wealthy investor portion 19x, and retail investor portion 81x.

The company had priced its IPO between Rs 262 and