- HD Fire Protect IPO was subscribed 131.70 times, indicating high demand.
- High Grey Market Premium (GMP) signals significant listing day gains.
- The company designs and manufactures firefighting equipment; based in Mumbai.
HD Fire Project IPO concluded at higher note, receiving an overwhelming 131.70 times subscription with bids of 2,42,60,01,215 shares against 1,84,20,492 issued shares. The Rs 712 crore initial public offering was opened for subscription on October 13. Meanwhile, the grey market premium (GMP) for the IPO remained higher as well, suggesting decent gain potential on listing day.
HD Fire Protect IPO Final Subscription Status
- According to NSE data till 6:42 PM, the IPO's overall subscription was 131.70 times.
- Qualified Institutional Buyers (QIBs) category - 256.65 times
- Non-Institutional Investors Category - 203.21 Times
- Retail Individual Investors Quota- 30.49 times
- Employees' Segment - 23.16 times
Earlier, HD Fire Protect Ltd’s IPO was fully subscribed on day one of subscription on Tuesday, October 13, getting a whopping 4.62 times bidding.
The company fixed a price band of Rs 258-271 per share.
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HD Fire Project IPO GMP
HD Fire Protect IPO latest grey market premium (GMP) on the last day of bidding was Rs 82–last updated at 6:02:01 PM on InvestoGain, a grey market tracker. The GMP is showing a potential listing at Rs 353, up 30.26 per cent as compared to the IPO price band of Rs 271.
IPO Details
Offer For Sale: It was entirely an offer for sale (OFS) of 2.63 crore equity shares by promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi.
Valuation: At the upper end of the price band, the valuation of the company was estimated at around Rs 4,750 crore.
HD Fire Protect raised Rs 213.11 crore from anchor investors on Monday.
About The Company
Mumbai-based HD Fire Protect is engaged in designing and manufacturing firefighting equipment and systems, including water, foam and gas-based firefighting solutions. It operates two manufacturing facilities in Maharashtra and serves sectors such as oil and gas, refining, petrochemicals, energy, pharmaceuticals, aerospace, data centres and warehousing.