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HD Fire Protect IPO Opens Strongly: GMP at 32%, Subscription Status and Key Details

Posted on 13th Oct 2026 02:20 pm by rohit kumar

The HD Fire Protect IPO attracted strong investor interest on its opening day, October 13, 2026, with the ₹712.31-crore public issue crossing the full-subscription mark within the first two hours of bidding, according to a market update published by Kotak Neo. By the reported update, the issue was subscribed 1.23 times, led by strong demand from non-institutional investors (NIIs). The IPO will remain open for subscription until October 15, 2026. Source: Kotak Neo

 

The IPO has also drawn attention because of its grey market premium (GMP). The premium was reported at around ₹85–₹86 per share in market trackers on October 13. Based on the upper price band of ₹271, this suggests an indicative listing price of approximately ₹356–₹357. However, GMP is unofficial and can change before listing; it does not guarantee listing gains.

 

HD Fire Protect IPO: Key Details

 

IPO opening date: October 13, 2026

 

IPO closing date: October 15, 2026

 

Price band: ₹258–₹271 per share

 

Issue size: ₹712.31 crore

 

Lot size: 55 shares

 

Minimum retail investment: ₹14,905 at the upper price band

 

Tentative allotment date: October 16, 2026

 

Refund and demat credit: October 19, 2026

 

Tentative listing date: October 21, 2026

 

Proposed exchanges: BSE and NSE

 

The price band, issue size and bidding dates have been reported by The Economic Times. Investors should check the final offer documents and exchange notices for confirmed details. Source: The Economic Times

 

HD Fire Protect IPO Subscription Status on Day 1

 

The issue received substantial early demand, with the reported overall subscription reaching 1.23 times on the first day. The category-wise figures in the published update were:

 

Non-Institutional Investors (NIIs): 2.69 times

 

Retail Individual Investors (RIIs): 1.31 times

 

Qualified Institutional Buyers (QIBs): No bids reported in that update

 

These figures are tied to the cited report's update and may differ from later exchange data. The reported 1.23-times subscription indicates that bids had exceeded the shares available overall at that point; it does not mean every applicant will receive an allotment.

 

HD Fire Protect IPO GMP Today

 

The HD Fire Protect IPO GMP was reported at approximately ₹85–₹86 per share on October 13, according to grey-market trackers. At the upper issue price of ₹271, the indicative calculation is:

 

The estimated listing price is calculated by adding the reported GMP to the upper price band. It is not an official price target or a prediction. Grey-market transactions are unofficial, and the actual listing price may be higher or lower.

 

What Does HD Fire Protect Do?

 

Established in 1997, HD Fire Protect manufactures firefighting equipment and fire-protection systems for industrial, commercial and residential applications. According to the company information provided for this article, it operates manufacturing facilities in Jalgaon and Thane and supplies products to customers in more than 90 countries.

 

The company’s reported product credentials include FM approvals and UL listings for several products. Its equipment has also been used in major projects, including India’s new Parliament building, the Jamnagar refinery and Saudi Aramco-related projects.

 

Investors assessing the IPO should review the company’s financial performance, valuation, competitive position, risks and offer documents rather than relying solely on early subscription numbers or GMP.

 

HD Fire Protect IPO Is an Offer for Sale

 

The public issue is an Offer for Sale (OFS). Under this structure, existing shareholders sell shares to public investors, and the proceeds from those shares go to the selling shareholders rather than to the company as fresh issue capital.

 

The offer therefore provides an opportunity for existing shareholders to sell part of their holdings and enables the company’s shares to be listed on the stock exchanges. Investors should read the prospectus to understand the selling shareholders, offer structure and associated risks.

 

Should Investors Track the HD Fire Protect IPO?

 

The IPO’s early subscription figures and reported GMP have put it on investors’ radar. Still, neither oversubscription nor a positive GMP guarantees listing gains. Investors should consider the company’s fundamentals, offer valuation, financial risks and their own investment objectives before making a decision.

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