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  3. HP Adhesives IPO

HP Adhesives IPO

HP Adhesives is Asia’s leading manufacturer of solvent cement. It is a flagship company of the HP Group and produces an extensive range of adhesives and sealant products besides solvent cement. These include PVA, acrylic and synthetic rubber adhesives, silicone and other sealants, gasket shellac, PVC, and PVC pipe lubricant.

HP Adhesives IPO Objectives

- Address the rising working capital requirement
- Finance existing and planned company expansion
- Fund other corporate requirements

HP Adhesives IPO - Details

According to the DRHP filed with capital markets regulator SEBI, HP Adhesives’ initial public offer will consist of 41.40 lakh freshly issued equity shares. Company promoter, Anjana Haresh Motwani, will offer 4,57,200 equity shares on sale. The company plans to raise around Rs. 125.96 crores with this initial public offer. Here is a table enlisting known details about the probable IPO.

Opening Date

Dec 15, 2021

Closing Date

Dec 17, 2021

Price Band

₹262 to ₹274

per equity share

Issue Size

₹125.96 Cr

Face Value

₹ 10

per equity share

Market Lot

50 Shares

Opening Date

Dec 15, 2021

Closing Date

Dec 17, 2021

Price Band

₹262 to ₹274

per equity share

Issue Size

₹125.96 Cr

Face Value

₹ 10

per equity share

Market Lot

50 Shares

Listing at NSE, BSE

HP Adhesives IPO Important Dates

IPO Open Date Dec 15, 2021
IPO Close Date Dec 17, 2021
Basis Of Allotment Date Dec 22, 2021
Initiation Of Refunds Dec 23, 2021
Credit Of Shares To
Demat ACcount		 Dec 24, 2021
IPO Listing Date Dec 27, 2021

HP Adhesives IPO Latest News and Subscription Status Today [Live]

Day 3 : 17th December 2021
Day 2 : 16th December 2021
Day 1 : 15th December 2021

At 10:40:00 AM.

- This IPO has been subscribed 9.46x by 10:40 AM. on Day 3

- It is a public issue of 25,28,500 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.44x

- (NII) Non-institutional buyers: 2.08x

- (RII) Retail Individual buyers: 47.60x

 

At 11:40:00 AM.

- This IPO has been subscribed 11.15x by 11:40 AM. on Day 3

- It is a public issue of 25,28,500 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.60x

- (NII) Non-institutional buyers: 5.53x

- (RII) Retail Individual buyers: 51.23x

 

At 12:40:00 PM.

- This IPO has been subscribed 12.65x by 12:40 PM. on Day 3

- It is a public issue of 25,28,500 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 1.00x

- (NII) Non-institutional buyers: 6.74x

- (RII) Retail Individual buyers: 56.46x

 

At 1:40:00 PM.

- This IPO has been subscribed 13.36x by 1:40 PM. on Day 3

- It is a public issue of 25,28,500 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 1.00x

- (NII) Non-institutional buyers: 7.02x

- (RII) Retail Individual buyers: 59.95x

At 10:40:00 AM.

- This IPO has been subscribed 4.47x by 10:40 AM. on Day 2

- It is a public issue of 25,28,500 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.0x

- (NII) Non-institutional buyers: 0.46x

- (RII) Retail Individual buyers: 23.89x

At 11:40:00 AM.

- This IPO has been subscribed 4.96x by 11:40 AM. on Day 2

- It is a public issue of 25,28,500 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.0x

- (NII) Non-institutional buyers: 0.58x

- (RII) Retail Individual buyers: 26.40x

At 12:40:00 PM.

- This IPO has been subscribed 5.38x by 12:40 PM. on Day 2

- It is a public issue of 25,28,500 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.0x

- (NII) Non-institutional buyers: 0.59x

- (RII) Retail Individual buyers: 28.68x

At 2:10:00 PM.

- This IPO has been subscribed 6.15x by 2:10 PM. on Day 2

- It is a public issue of 25,28,500 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.0x

- (NII) Non-institutional buyers: 0.91x

- (RII) Retail Individual buyers: 32.45x

At 3:10:00 PM.

- This IPO has been subscribed 3.42x by 3:10 PM. on Day 2

- It is a public issue of 25,28,500 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.0x

- (NII) Non-institutional buyers: 0.41x

- (RII) Retail Individual buyers: 18.18x

At 4:10:00 PM.

- This IPO has been subscribed 7.44x by 4:10 PM. on Day 2

- It is a public issue of 25,28,500 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.34x

- (NII) Non-institutional buyers: 1.38x

- (RII) Retail Individual buyers: 37.84x

At 5:10:00 PM.

- This IPO has been subscribed 8.03x by 5:10 PM. on Day 2

- It is a public issue of 25,28,500 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.34x

- (NII) Non-institutional buyers: 1.90x

- (RII) Retail Individual buyers: 40.29x

At 10:40 a.m.

- This IPO has been subscribed 1.28x by 10:40 a.m. on Day 1
- It is a public issue of 25,28,500 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 7.02x

 

At 11:40 a.m.

- This IPO has been subscribed 1.28x by 11:40 a.m. on Day 1
- It is a public issue of 25,28,500 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.00x
- (RII) Retail Individual buyers: 7.02x

 

At 12:40 a.m.

- This IPO has been subscribed 2.12x by 12:40 a.m. on Day 1
- It is a public issue of 25,28,500 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.03x
- (RII) Retail Individual buyers: 11.61x

 

At 1:40 a.m.

- This IPO has been subscribed 2.36x by 1:40 a.m. on Day 1
- It is a public issue of 25,28,500 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.04x
- (RII) Retail Individual buyers: 12.91x

 

At 2:40 a.m.

- This IPO has been subscribed 2.76x by 2:40 a.m. on Day 1
- It is a public issue of 25,28,500 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.04x
- (RII) Retail Individual buyers: 15.11x

 

At 4:10 a.m.

- This IPO has been subscribed 3.13x by 4:10 a.m. on Day 1
- It is a public issue of 25,28,500 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.31x
- (RII) Retail Individual buyers: 16.74x

 

At 5:10 a.m.

- This IPO has been subscribed 3.48x by 5:10 a.m. on Day 1
- It is a public issue of 25,28,500 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.38x
- (RII) Retail Individual buyers: 18.57x

 

Why should you invest in HP Adhesives?

Together, the adhesives and sealants market in India was worth Rs. 10,100 crores in 2020. Moreover, these markets are expected to clock a CAGR of 8.5% and 7.0%, respectively, by 2025, resulting in a possible combined value of Rs. 15,000 crores.

HP Adhesives’ business is primarily based on PVA and acrylic-based adhesives and silicone-based sealants. These products take up more than 50% share of India's adhesives and sealants market. The projected market growth contributed by the construction, packaging, and furniture industries is a big thumbs-up to investing in the company's IPO.

However, interested individuals should always perform detailed research per their requirements before investing.

Financial highlights

According to HP Adhesives, the company’s annual turnover exceeds $15 million. It also mentions HP Group’s total turnover is over $40 million.

How to apply for HP Adhesives IPO?

You can apply for the HP Adhesives IPO in these ways:

UPI
Link your bank account to a reliable UPI ID and register it with your Angel One account. Proceed to book HP Adhesives IPO shares using the ID, confirm the payment on the UPI app, and block the amount for allotment.

Demat Account

1. If you are already a client of Angel One, apply directly for HP Adhesives IPO, click here.
2. If you’re a new investor Open DEMAT Account for free with Angel One to begin your investment journey.

HP Adhesives IPO – Noteworthy Highlights

Here are some of the highlights of HP Adhesives :

- It ranks Number 1 in manufacturing solvent cement in Asia.

- The company offers more than 25 innovative products catering to consumer adhesives and sealants requirements.

- It is an expert, operating in the field for over 35 years.

- HP Adhesives caters to a large customer base with a yearly manufacturing capacity of 15400+ metric tons.

- It caters to nearly 74 OEM clients and operates approximately 26746 retails stores across India.

HP Adhesives IPO - SWOT Analysis

strengths

Strengths

  • Expansive product range: HP Adhesives serves the electric, plumbing, and mechanical sectors with a wide variety of innovative products. These include acrylic and PVA-based adhesives, PVC, and silicone sealants, among others.
  • Reliability: The company performs stringent quality checks for both finished products and raw materials. Some of the advanced quality determination tests concern viscosity, tensile testing, density analysis, gas chromatography-mass spectrometry, and hydrostatic burst strength.
  • Strong distribution network: The company, along with its 864 distributors, own more than 45 stock points in the country and worldwide. With such an extensive distribution network, customer service has always been top-notch.
Weaknesses

Weaknesses

  • Employee retention: A report shows that employee count at HP Adhesives has gone down by 9.4% in the past 1 year. A prolonged decrease in the workforce at a similar rate can be detrimental to business operations and company performance in the near future.
Opportunities

Opportunities

  • Growth in the real estate sector: The rising trend of working remotely has fuelled the demand for affordable homes in Tier 2 and Tier 3 cities this year. The ticket sizes range up to Rs. 40 - 50 lakhs. These prices are expected to go up with ever-growing urbanisation in an emerging country like India. It can catalyse the growth of HP Adhesives since its products cater to construction and furniture.
  • Growing packaging and automotive industry: This growth in India, Singapore, and China is another driver of HP Adhesives’ growth since the adhesives and sealants market dominantly caters to this sector.
Threats

Threats

  • Strict environmental regulations: Solvent-based adhesives, which are the primary products of HP Adhesives, can react with atmospheric nitrogen to cause respiratory problems. Due to such concerns, restrictive standards regarding Volatile Organic Compound (VOC) have come to place, impelling companies to limit the production of these products.
  • Rising costs of raw materials: The rising crude oil prices also make raw material derivatives expensive, hindering the market growth.
Strenghts Strengths
Weaknesses Weaknesses
Opportunities Opportunities
Threats Threats

Strengths

  • Expansive product range: HP Adhesives serves the electric, plumbing, and mechanical sectors with a wide variety of innovative products. These include acrylic and PVA-based adhesives, PVC, and silicone sealants, among others.
  • Reliability: The company performs stringent quality checks for both finished products and raw materials. Some of the advanced quality determination tests concern viscosity, tensile testing, density analysis, gas chromatography-mass spectrometry, and hydrostatic burst strength.
  • Strong distribution network: The company, along with its 864 distributors, own more than 45 stock points in the country and worldwide. With such an extensive distribution network, customer service has always been top-notch.

Weaknesses 

  • Employee retention: A report shows that employee count at HP Adhesives has gone down by 9.4% in the past 1 year. A prolonged decrease in the workforce at a similar rate can be detrimental to business operations and company performance in the near future.

Opportunities 

  • Growth in the real estate sector: The rising trend of working remotely has fuelled the demand for affordable homes in Tier 2 and Tier 3 cities this year. The ticket sizes range up to Rs. 40 - 50 lakhs. These prices are expected to go up with ever-growing urbanisation in an emerging country like India. It can catalyse the growth of HP Adhesives since its products cater to construction and furniture.
  • Growing packaging and automotive industry: This growth in India, Singapore, and China is another driver of HP Adhesives’ growth since the adhesives and sealants market dominantly caters to this sector.

Threats 

  • Strict environmental regulations: Solvent-based adhesives, which are the primary products of HP Adhesives, can react with atmospheric nitrogen to cause respiratory problems. Due to such concerns, restrictive standards regarding Volatile Organic Compound (VOC) have come to place, impelling companies to limit the production of these products.
  • Rising costs of raw materials: The rising crude oil prices also make raw material derivatives expensive, hindering the market growth.

HP Adhesives IPO FAQs

How can I apply for the HP Adhesives IPO through the Angel One App?

Here are the steps you can follow to apply for an IPO using the Angel One app –
Step 1: Open the Angel One mobile app and navigate to the section of ‘Investment Opportunities’.
Step 2: Next, provide the necessary details under the ‘IPOs and FPOs’ section.
Step 3: Enter your NPCI - certified UPI handle.
Step 4: Finally, click on ‘Invest’ to place your bid for this public issue of HP Adhesives.

I do not have a UPI ID. Can I apply for the public issue of HP Adhesives?

Yes, you can place a bid for the HP Adhesives IPO even if you don’t have a UPI ID. Here, you need to resort to your respective bank’s ASBA process. Nevertheless, you can always create a UPI ID if you do not already have one, to apply more easily. You can do so by using any of the UPI handles present on the NPCI List.

Why can’t I find my UPI ID in the Angel One app’s drop-down menu when applying for the HP Adhesives IPO?

If your UPI ID is not present in the dropdown menu of Angel One, this indicates that your present UPI ID does not fall under the NPCI-approved list. Under such circumstances, you need to create a new ID using any of the UPI handles available on the NPCI List.

What is the process to find a UPI ID on the Angel One mobile app?

Individuals need to open the Angel One app and navigate to the ‘Profile’ section. Here, they can view their UPI ID.

I don’t have a bank account linked with the Angel One app. Can I still place a bid for the public issue of HP Adhesives?

Yes, you can apply for this HP Adhesives IPO even via a bank account that is not connected with the Angel One app. Only note that this bank account in question should be in your name.

Do I need to approve a UPI mandate request instantly after receiving it?

Yes, ideally you should approve a UPI mandate request for the IPO of HP Adhesives or any other company as soon as you receive it to enhance your chances of approval. However, this approval window remains open from the previous working day’s closing bell to the 12 noon of the next working day.

Can I create a UPI ID using the BHIM app?

Yes, you can create a UPI ID via the BHIM app using the following steps –
Step 1: Download the BHIM UPI app and install it on your smartphone.
Step 2: Enter your mobile phone number, verify it, and create a password or PIN to open this app.
Step 3: Now, choose one financial institution from the list of the registered service provider’s under the NPCI.
Step 4: After this, this BHIM UPI app will automatically gather your bank information without any additional input.
Step 5: if you are an individual having more than one bank account, choose one you want to connect with and register on this BHIM UPI app.
Step 6: Finally, create your personal UPI ID.
After completing this process, you can go to this app’s ‘Profile’ section to view your UPI ID anytime.

How do I accept a UPI mandate request for this HP Adhesives IPO?

You can accept the mandate request for this public issue of HP Adhesives simply via a UPI app. Nevertheless, you can also click here to get a detailed overview of this process, along with related steps.

Can I use a Hindu Undivided Family or HUF account to apply for this HP Adhesives’ public issue?

No, you cannot place a bid for this HP Adhesives IPO via a Hindu Undivided Family account. However, you can contact your bank to utilise this ASBA process to apply for an IPO via such an account.

I have a current account. Can I place a bid for the HP Adhesives IPO with this account?

No, you cannot apply for the public issue of HP Adhesives or any other company using a current account. Generally, financial institutions do not consider IPO applications that take place via such accounts. Instead, you can use a savings account to place a bid. You can also contact a bank representative to get further details on this process.

Can I apply for the IPO of Anand Rathi Wealth via my minor daughter’s account?

No, you cannot use your minor daughter’s account to apply for this initial public offering of HP Adhesives. Contrarily, a minor can place a bid for any IPOs using the ASBA process offered by banks for such accounts.

Why can’t I place bids for this HP Adhesives IPO via my current UPI handle?

One of the reasons why you are unable to submit bids for this public issue of HP Adhesives is that your UPI handle does not fall under the NPCI-approved list. Under such circumstances, you need to create a fresh ID using any of the service providers certified by the NPCI to extend UPI service. After completing this process, you can place a bid for any IPOs of your choice.

How long does it take to block or unblock funds for an IPO subscription?

Generally, banks block the funds required for an IPO as soon as you accept a UPI mandate request. However, they will unblock these funds if your mandate expires or you fail to receive an allotment. However, if these funds still remain frozen afterwards, you can get in touch with your bank for further assistance.

I am an NRI. Am I eligible to use the Angel One app to apply for this HP Adhesives IPO?

No, NRIs cannot apply for this HP Adhesives IPO via the Angel One app. However, they can always resort to their respective bank’s ASBA or Application Supported by Blocked Amount process to place a bid for any IPOs of their choice.

How long does it take to receive a UPI mandate request after submitting an IPO application?

Generally, individuals receive a UPI mandate request within 10 to 15 minutes of submitting their IPO bid. However, this process may get delayed at times due to several reasons.

I have approved the UPI mandate request for HP Adhesives IPO, but its status is still ‘Pending’ on the Angel One app. What can be the reason?

Note that Angel One does not status of update mandate requests in real-time. This is why it may take some time for you to notice a change in its status. However, you can always check this IPO’s order book to confirm the mandate request’s actual status after accepting it.

Do I need to pay any additional fees to place a bid for this HP Adhesives IPO using the Angel One platform?

No, Angel One does not charge any extra fees from individuals to let them place a bid for this initial public offering of Angel One.

Can I submit multiple bids for HP Adhesives IPO using a single PAN?

No, you cannot use one PAN to submit multiple bids for an initial public offering. Multiple applications may lead to rejection and hinder you from securing an allotment for this IPO of HP Adhesives or any other company.

Does bidding at the cut-off price increase chances of securing an IPO allotment?

Yes, a cut-off price indicates a price point at which the equity shares of HP Adhesives or of other firms get listed on the share market. Therefore, placing a bid at this price indicates your will to purchase shares of HP Adhesives at this price point. This, in turn, increases your chances of securing an IPO allotment.

I have submitted the final application for HP Adhesives IPO, but the required funds are not deducted yet. Why is it so?

Here, you need to understand that banks do not release funds for an IPO right after you submit an application. This is why funds may not be debited from your account right away. Instead, they block the necessary amount momentarily and will deduct it only after you secure an allotment. Conversely, banks will release this amount if you fail to receive an allotment and your UPI mandate request expires.

Is there an option to modify my IPO bid for HP Adhesives after submitting an application?

Yes, there is an option to alter your lot size and UPI ID for this HP Adhesives IPO even after submitting your final bid. However, note that if your changes come about after you approve your UPI mandate request, it will be considered a fresh bid. Under such circumstances, banks will block your new bid amount besides the previous funds. you will also get a new UPI mandate request for this bid like that for your previous one.

Is there any way to get assured allotment for this HP Adhesives IPO?

No, it is not possible to guarantee allotment for any IPO. Most of the time during oversubscription, authorities utilise a lottery system to allocate shares. This makes it difficult to assure the final outcome.
Similarly, the Angel One platform only allows you to place a bid for an IPO but does not provide any assurance regarding its allocation.
However, individuals can enhance their chances of securing shares by considering the following factors –
● Use a Demat account linked with your PAN.
● Apply at the cut-off price.
● Make sure that your UPI ID and your bank account are connected with a single PAN, otherwise, it may lead to rejection.

For example, person X uses his Demat account and person Y’s UPI ID to place a bid for this HP Adhesives IPO. His application can get rejected due to the following reasons –

● Person X’s PAN is not linked with Y’s UPI ID.
● Person Y’s bank account is not connected with X’s Demat account.

If my HP Adhesives IPO bid gets rejected, what can be the possible reasons behind it?

Here are some probable reasons behind the rejection of your IPO application for HP Adhesives –
● Your UPI ID, Demat account, and bank account are not linked with the same PAN.
● You may have entered the wrong UPI PIN when approving the mandate.
For instance, you have used your Demat account to apply for this IPO and use your friend’s UPI ID to make payment.
Under such circumstances, your application may get rejected –
● If your friend’s UPI ID and your PAN are not linked
● If your friend’s bank account is not linked with your Demat account

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