HP Adhesives Ltd

HP Adhesives Ltd

The company was originally formed as a partnership firm under the name of M/s. H.P. International on 01 January 1987.M/s. HP International was thereafter converted into a private limited company HP Adhesives Private Limited on 07 May 2019. Subsequently the company has been converted into a public limited company and the name of the company changed to HP Adhesives Limited pursuant to a special resolution passed at the Extra-Ordinary General Meeting of our Company held on 23 June 2021 and a fresh Certificate of Incorporation dated 01 July 2021.HP Adhesives is a fast-growing multi-product multi-category consumer adhesives and sealants company.The company is engaged in manufacturing 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 lubricant which are sold across India.The company also sell ancillary products like ball valves thread seal and other tapes and FRP products for drainage and architectural solutions.The 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. As of 30 June 2021 company's distribution network comprised of 4 depots and more than 750 distributors who cater to more than 50000 dealers in India. As of 30 June 2021 the company is operating out of its manufacturing facility located at Village Narangi Raigad (Maharashtra) which is a multi- product manufacturing facility.On 08 August 2019the company has issued and allotted 12990000 equity shares of Rs 10 each at par on rights basis.On 07 May 2021the company has issued and allotted 1177642 equity shares of Rs 10 each at a premium of Rs 164.50 per share on rights basis.Again on 10 June 2021the company has issued and allotted 57305 equity shares of Rs 10 each at a premium of Rs 164.50 per share on rights basis.During the month of December 2021the company came out with an Rs 125.96-crore public issue which comprised a fresh issue of Rs 113.44 crore and offer for sale(OFS) of Rs 12.52 crore by the selling shareholders.The IPO shares were allotted at the price of Rs 274 per share including a premium of Rs 264 per share.The allotted shares were listed on the BSE Ltd and National Stock Exchange of India Ltd(NSE) on 27 December 2021.