HP Adhesives, which launched its initial public offering (IPO) last week, is expected to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on Monday, December 27. The IPO was launched for three days – from December 15 to 17 – and was well received.

Livemint reported that gray markets have started to react to the stock. HP Adhesives shares are trading at a premium of ??80 on the gray market on Saturday, according to the Livemint report.

It is ??15 more than the Friday bonus of ??65.

The HP Adhesives IPO was subscribed 20.96 times on the last day of subscription on December 17. The IPO received offers for 5,29,89,650 shares for 25,28,500 offered shares, according to NSE data.

The IPO was subscribed 3.48 times on the first day of the offering on December 15 following a strong response from retail investors.

The IPO of up to 45,97,200 equity shares had a price range of ??262-274 per share. Unistone Capital was the manager of the offering.

The world’s first public offerings (IPOs) raised a record $ 594 billion in 2021, benefiting from stock market rallies, Reuters news agency reported. There were, however, some disappointments with their subsequent stock market performance.

Companies ranging from tech start-ups to blank check acquiring companies have flooded the market with offers, capitalizing on investors’ willingness to place speculative bets as interest rates low and economies reopen thanks to Covid-19 vaccines have fueled their risk appetite.

Among the biggest deals in 2021 was electric vehicle maker Rivian Automotive Inc, which raised more than $ 12 billion when it debuted in November, making it the largest IPO in the U.S. United since Alibaba Group Holding Ltd in 2014.

Other major players include Chinese online video company Kuaishou Technology, with proceeds of $ 5.4 billion, and Korean e-commerce giant Coupang Inc, which raised $ 4.6 billion.

In India, 63 companies have raised more than $ 13.33 billion through motherboard IPOs this year so far. This is nearly 4.5 times more than the $ 3.47 billion raised in 15 issues in 2020.