HP Adhesives IPO GMP History
HP Adhesives IPO has been listed on December 27, 2021 at a listing price of ₹315, against the issue price of ₹274 — a gain of ₹41 (+14.96%). The GMP peaked at ₹90 on 27 December 2021 and reached a low of ₹50 on 22 December 2021. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
HP Adhesives IPO raised ₹125.96 Cr. through its IPO at a price band of ₹262 to ₹274 per share, with a lot size of 50 shares. The IPO was open for subscription from 15 Dec 2021 to 17 Dec 2021.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 10 Nov, 7:27 AM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 27 Dec 2021 | ₹ 90 | ▲ | 33% | — | — |
| 26 Dec 2021 | ₹ 80 | — | 29% | — | — |
| 25 Dec 2021 | ₹ 80 | — | 29% | — | — |
| 24 Dec 2021 | ₹ 80 | — | 29% | — | — |
| 23 Dec 2021 | ₹ 80 | ▲ | 29% | — | — |
| 22 Dec 2021 | ₹ 50 | — | 18% | — | — |
| 21 Dec 2021 | ₹ 50 | — | 18% | — | — |
HP Adhesives IPO dates
Key dates from opening to listing. Today is 11 November.
- Open 15 Dec 2021
- Close 17 Dec 2021
- Allotment 22 Dec 2021
- Refund/credit 23 Dec 2021
- Listing 27 Dec 2021
HP Adhesives IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹274 |
|---|---|
| GMP-based estimate (pre-listing) | ₹324 (+18.2%) |
| Listing gain / loss | +₹41 per share |
| Listing date | 27 Dec, 2021 |
| Actual listing price | ₹315 (+14.96%) |
Is HP Adhesives IPO GMP reliable?
Grey market premium for HP Adhesives IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the HP Adhesives IPO full review for a fundamentals-based assessment before making any grey market trades.
HP Adhesives IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for HP Adhesives IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About HP Adhesives IPO
HP Adhesives Limited is a multi-product consumer adhesives and sealants company. In PVC solvent cement, its largest category, it is among the leading makers in the consumer or bazaar segment, as per CRISIL Research.
Its range covers PVC, cPVC and uPVC solvent cement, synthetic rubber adhesive, PVA adhesives, silicone and acrylic sealants, gasket shellac and PVC pipe lubricants. These are used in plumbing, drainage, construction, interiors, glazing, woodwork, footwear and automotive work. It also makes products for large PVC pipe makers under co-branding or private label.
It also sells ancillary products such as ball valves, thread seal tapes and FRP products. On 30 September 2021 it had 4 depots in Delhi, Kolkata, Bengaluru and Indore and more than 750 distributors, and it exports to several countries.
The IPO was Rs 125.96 crore, with Rs 113.44 crore of fresh issue and Rs 12.53 crore of offer for sale. Rs 54.00 crore was planned for working capital and Rs 25.51 crore for an expansion.
Frequently asked
What is the GMP of HP Adhesives IPO?
The current Grey Market Premium (GMP) of HP Adhesives IPO is ₹ 50.
What is the Kostak Price of HP Adhesives IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for HP Adhesives IPO is not available.
What is the Subject to Sauda Price of HP Adhesives IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of HP Adhesives IPO?
HP Adhesives IPO listed on December 27, 2021 at ₹315, against the issue price of ₹274 — a gain of +14.96%.
How did the GMP of HP Adhesives IPO trend before listing?
The GMP of HP Adhesives IPO was rising in its final days before listing. The GMP peaked at ₹90 on 27 December 2021. View the day-wise table above for the complete GMP history.
Explore HP Adhesives IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
