- Mumbai-based consumer adhesives and sealants player has opened its IPO today and will conclude on December 17.
- The company is looking to raise ₹126 crore through the public issue.
HP Adhesives IPO manufactures a wide range of products such as solvent cements, silicone sealants, contact adhesives, white glue, plumbing accessories and FRP manhole covers.
The company is looking to raise ₹126 crore through the public issue wherein fresh issue is of ₹113 crore and offer for sale is of ₹12.53 crore.
HP Adhesives manufactures a wide range of products such as solvent cements, silicone sealants, contact adhesives, white glue, plumbing accessories and manhole covers.
The aforesaid 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.
Here is some important details related to the IPO:
The proceeds from the IPO will be used for working capital and capital expenditure at its manufacturing facility in Narangi, Maharashtra and at the additional unit.
As of September 30, 2021, the company has a distribution network of 4 depots situated in Delhi, Kolkata, Bengaluru, and Indore and more than 750 distributors who cater to more than 50,000 dealers in India. In FY21, the company sold its products in 21 countries.
The company has delivered a profit of ₹10 crore after incurring a loss of nearly ₹5 crore last year.
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