HD Fire Protect Ltd’s initial public offering received a decent response from investors on the first day of the subscription window and was subscribed 4.62 times on Tuesday. According to the data available on the National Stock Exchange (NSE), the Rs 712-crore IPO received bids for 8,50,40,395 shares against 1,84,20,492 shares on offer. The non-institutional category garnered 11.38 times subscription, while the retail quota was subscribed 3.78 times. The portion for Qualified Institutional Buyers (QIBs) received 1.04 times subscription.
HD Fire Protect IPO subscription dates
HD Fire Protect IPO opened on October 13 and closed on October 15.
HD Fire Protect IPO price band
The company has fixed a price band of Rs 258-271 per share for its Rs 712-crore IPO. At the upper end of the price band, the company is valued at around Rs 4,750 crore.
HD Fire Protect IPO Listing
The company’s shares are expected to list on the BSE and NSE on October 21.
HD Fire Protect raised 213 crore from anchor investors
Ahead of the IPO, the fire protection equipment manufacturer raised Rs 213.11 crore from anchor investors. Bajaj Life Insurance and Axis Max Life Insurance, Allianz Global Investors Fund and several mutual funds, including Kotak Mutual Fund (MF), HDFC MF, ICICI Prudential MF, Aditya Birla Sun Life MF, Mirae Asset MF, Bandhan MF and UTI MF participated in the anchor round, according to a circular uploaded on stock exchanges.
HD Fire Protect IPO GMP today
According to Investorgain, HD Fire Protect’s unlisted shares are commanding a grey market premium (GMP) of Rs 91. With an upper price band of Rs 271, the company’s shares are expected to list around Rs 362, reflecting a grey market premium of 33.58 per cent.
What does the company do?
Mumbai-based HD Fire Protect designs and manufactures fire protection equipment and systems, including water-, foam- and gas-based fire suppression solutions.
The company has supplied fire protection equipment for several prominent projects, including India’s new Parliament building, the country’s largest refinery in Jamnagar and installations at the space launch facility in Sriharikota. It operates two manufacturing facilities in Maharashtra and serves sectors such as oil and gas, refining, petrochemicals, power, pharmaceuticals, aerospace, data centres and warehousing.
ALSO READ:
From Jio Platforms to Zetwerk, a dozen companies set to launch IPOs in October – Check full details
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
