Stories
HD Fire Protect IPO Surges Over 4.5x on Opening Day with 32 Percent GMP
- •The initial public offering of HD Fire Protect was booked 4.62 times by the end of the opening day on October 13.
- •Non-institutional investors led the demand with an 11.38x subscription, while retail investors subscribed 3.78 times.
- •The Rs 712.1-crore IPO features a price band of Rs 258 to Rs 271 per share and closes on October 15.
- •The public issue is entirely an offer for sale of 2.62 crore equity shares by promoters Harish Narshi Dharamshi and Kusum Dharamshi.
- •Company shares are expected to be allotted on October 16 and listed on stock exchanges on October 21.
Key Questions Answered
The HD Fire Protect initial public offering was booked over 4.62 times by 5:00 pm on October 13, receiving bids for 8,50,40,395 shares against 1,84,20,492 shares on offer. In the grey market, shares commanded a premium of around 32 percent on the morning of October 13.
The price band for the public issue is set at Rs 258 to Rs 271 per share, with investors allowed to bid for a minimum of 55 equity shares. The subscription window remains open until October 15, share allotment is expected to be finalised on October 16, and listing on stock exchanges is scheduled for October 21.
The Rs 712.1-crore public issue is entirely an offer for sale of 2.62 crore equity shares by promoters Harish Narshi Dharamshi and his wife Kusum Dharamshi. Because the IPO has no fresh issue component, the company will not receive any proceeds; after deducting offer-related expenses, all funds will go directly to the selling shareholders.
