Multi-product, multi-category consumer adhesives and sealants company HP Adhesives’ initial public offering (IPO) opened for subscription on Wednesday. The company is looking to raise Rs 126 crore, Rs 12.50 crore is through OFS, and the rest through a fresh issue.
Karan Motwani, HP Adhesives said they will be utilising the money for working capital and capex over the next two years.
On business Motwani added, “83 percent of our sales come from India, 17 percent come from international. We export to almost 21 countries. So no one market has a monopoly on our exports as well. We are defragmented across multiple geographies.”
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