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IPOs This Week: HD Fire Protect, Fusion CX Among 5 Issues Targeting ₹1,600 Crore

Posted on 12th Oct 2026 04:25 pm by rohit kumar

India’s primary market is set for a busy week, with five IPOs scheduled across the mainboard and SME segments from October 13 to October 19, 2026. The upcoming issues include HD Fire Protect, Fusion CX and Sahajanand Medical Technologies in the mainboard segment, alongside SME offerings from Ravita Engineering Services and Vaibhav Vyapar.

 

HD Fire Protect and Fusion CX are the biggest IPOs among the offerings with announced issue sizes, at ₹712.31 crore and ₹702 crore, respectively. Ravita Engineering Services plans to raise ₹116.05 crore, while Vaibhav Vyapar’s issue is valued at ₹42.10 crore. Sahajanand Medical Technologies has announced its subscription schedule, but its price band has not yet been disclosed in the available information. The four issues with stated sizes total approximately ₹1,572.46 crore. Source: Economic Times IPO calendar

 

Investors tracking the IPO calendar should check each company’s issue dates, price band, lot size, issue structure and expected listing date before applying.

 

1. HD Fire Protect IPO: ₹712.31 crore issue opens October 13

 

HD Fire Protect’s IPO will open for subscription on October 13 and close on October 15. The company has fixed a price band of ₹258 to ₹271 per share, with a lot size of 55 shares. At the upper end of the price band, one lot costs ₹14,905.

 

The ₹712.31 crore issue is entirely an Offer for Sale (OFS) of approximately 2.63 crore shares. This means the shares are being sold by existing shareholders, and the company will not receive the OFS proceeds.

 

The shares are expected to list on the BSE and NSE on October 21, subject to the final schedule. Source: Economic Times

 

What does HD Fire Protect do?

 

Established in 1997, HD Fire Protect manufactures fire-protection equipment and systems, including sprinklers, alarm valves, deluge valves, foam systems, monitors, nozzles and gas-suppression solutions.

 

The company serves industries such as oil and gas, refining, petrochemicals, power, heavy engineering, pharmaceuticals, data centres, hospitality and healthcare. It exports products to more than 90 countries and operates two manufacturing facilities in Maharashtra.

 

Because the IPO is an OFS, investors should distinguish between the company’s operating prospects and the fact that the issue proceeds will go to the selling shareholders rather than directly to the business.

 

2. Fusion CX IPO: ₹702 crore issue opens October 14

 

Fusion CX will launch its ₹702 crore IPO on October 14, with the issue closing on October 16. The price band is ₹275 to ₹289 per share, and the lot size is 51 shares. Investors applying for one lot at the upper price band would need ₹14,739.

 

The issue comprises a fresh share sale worth ₹500 crore and an OFS component of ₹202 crore. Unlike an entirely OFS-based issue, the fresh issue will provide funds to the company, while the OFS proceeds will go to the selling shareholders.

 

The shares are expected to list on the BSE and NSE on October 22. Source: Economic Times

 

What does Fusion CX do?

 

Fusion CX provides customer-experience management and business-process solutions to businesses. According to the company information provided, it operates 40 delivery centres across 13 countries and serves clients across sectors including telecommunications, healthcare, travel, banking and financial services, and retail.

 

Its business profile makes operating performance, client concentration, profitability and the use of fresh issue proceeds important areas for prospective investors to examine in the offer documents.

 

3. Sahajanand Medical Technologies IPO: Price band awaited

 

Sahajanand Medical Technologies is scheduled to open its mainboard IPO on October 15. The issue is expected to close on October 19, with allotment scheduled for October 21 and listing expected on October 23.

 

The offering comprises an OFS of 2.76 crore shares. However, the price band and the corresponding total issue value have not yet been announced in the information available for this report.

 

What does Sahajanand Medical Technologies do?

 

Established in 2001, Sahajanand Medical Technologies manufactures medical devices used in vascular and cardiac interventions. Its portfolio includes coronary stents, balloons, renal stents and peripheral drug-coated balloons.

 

The company’s products are used in more than 76 countries, according to the company profile provided. Investors should review the final offer documents for details on the selling shareholders, financial performance, valuation and risks before making an investment decision.

 

4. Ravita Engineering Services IPO: ₹116.05 crore SME issue

 

Ravita Engineering Services will open its SME IPO on October 13 and close it on October 15. The company has set a price band of ₹105 to ₹112 per share, with a lot size of 1,200 shares.

 

Retail investors are required to apply for at least two lots, or 2,400 shares, under the stated application structure. At the upper price band of ₹112, the minimum investment is ₹2,68,800.

 

The issue is entirely a fresh issue of shares, with no OFS component. The company is expected to list on the NSE SME platform on October 21. Source: Zerodha IPO calendar

 

What does Ravita Engineering Services do?

 

Incorporated in 2007, Ravita Engineering Services provides engineering, procurement, installation and commissioning services for heating, ventilation and air-conditioning systems, cooling equipment and related electromechanical infrastructure. It also provides operations and maintenance services.

 

Its activities span commercial and industrial buildings, offshore installations and data centres. Since SME IPOs can involve different liquidity and volatility risks from mainboard issues, investors should examine the company’s financials, order book, valuation and risk disclosures carefully.

 

5. Vaibhav Vyapar IPO: ₹42.10 crore SME issue

 

Vaibhav Vyapar’s SME IPO is scheduled to open on October 13 and close on October 15. The company has fixed the price band at ₹51 to ₹54 per share.

 

The issue size is ₹42.10 crore and comprises a fresh issue, meaning the proceeds are intended for the company rather than selling shareholders. The stated retail application requirement is two lots of 4,000 shares in total. At the upper price band of ₹54, the minimum investment would be ₹2,16,000.

 

The allotment is expected to be finalised on October 16, and the shares are expected to list on the NSE SME platform on October 21.

 

What does Vaibhav Vyapar do?

 

Vaibhav Vyapar is a non-banking financial company (NBFC) that offers personal loans through its mobile application, Loan Front. Its stated target market includes first-time borrowers in urban and semi-urban areas.

 

Investors should pay particular attention to the company’s loan book, asset quality, borrower profile, collection performance, funding costs and regulatory disclosures before evaluating the IPO.

 

What should investors check before applying?

 

Before investing in any IPO, prospective applicants should consider more than the headline issue size or market buzz.

 

Read the offer documents: Review the company’s financial statements, business risks, litigation disclosures and use of proceeds.

 

Understand the issue structure: A fresh issue brings money into the company, whereas OFS proceeds go to selling shareholders.

 

Compare valuation: Assess earnings, revenue growth, debt, margins and valuation against relevant listed peers where suitable comparisons exist.

 

Check the lot size: SME IPOs can require substantially higher minimum application amounts than many mainboard offerings.

 

Do not rely solely on grey-market premium: GMP is unofficial, can change quickly and does not guarantee listing gains.

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