HP Adhesives IPO 2021 Update : HP Adhesives has registered preliminary request for IPO with capital markets regulator SEBI to boost funds by an preliminary share sale.
HP Adhesives IPO contains below shares to be sale:
- Fresh Issuance – 41.40 lakh equity shares
- Offer for sale (Promotor’s) – 4.57 lakh equity shares
The raised money will be used for below things:
- To fund capital expenditure for existing and proposed expansion
- General corporate purposes
- To support the incremental working capital requirement of the company
About Company HP Adhesives:
HP Adhesives, the flagship company of the HP Group is the largest manufacturer of Solvent Cements in Asia. The annual turnover of the company is above 15 Million USD, and a group turnover exceeding 40 Million USD.
Established in 1978 by the Motwani family, HP Group has expanded in diverse business streams. Its imprints are in Adhesive, Plumbing, Plumbing Accessories, Textile, Logistics, Real Estate, and Engineering industries.
HP Group’ target to exceed USD 100 Million in revenue by 2022 makes up its strategy for the years to come.
Appointed Unistone Capital to advise & support IPO:
The company has appointed Unistone Capital as the merchant banker to support and advise the company regarding IPO. The HP Adhesives equity shares will be listed on both BSE and NSE.