HD Fire IPO shares listing today: Check latest GMP before stock market debut

Shares of HD Fire Protect made a solid stock market debut on Wednesday, October 21, after the specialized safe equipment maker was listed at Rs 335 on NSE Ltd, a premium of 23.62 per cent over the issue price of Rs 271. Similarly, the stock settled with a premium of23.39 per cent at Rs 334.40 on BSE Ltd.

As of the listing price, retail investors made a profit of more than Rs 3,500 on each lot of 55 equity shares allotted to them, while HNI made a profit of Rs xx for 770 equity shares allotted to them. Ahead of its listing, shares of HD Fire Protect were commanding a grey market premium (GMP) of Rs 70-72 apeice, suggesting nearly 26-27 per cent listing pop for the investors.

The IPO of HD Fire Protect was open for bidding between October 13-15 as the company raised a total of Rs 712 crore from its primary offering, which was entirely an offer-for-sale (OFS) of up to 2,62,84,500  equity shares. The company sold its shares in the range of Rs 258-271 apeice, with a lot size of 55 equity shares.

According to the data, the IPO of Rajputana Stainless was subscribed a solid 131.70 times during the bidding process, fetching bids for 65,750 crore through 47.55 lakh applications. On an individual basis, qualified institutional bidders' (QIB) portion was booked 256.65 times, while non-institutional investors' quota was subscribed 203.21 times. Retail portion was booked 30.49 times.

Incorporated in April 1997, Mumbai-based HD Fire Protect is an Indian manufacturer and supplier of fire protection equipment and systems, offering water, foam and gas-based fire suppression solutions. It offers a comprehensive portfolio across eight product categories. It develops a majority of its products in-house and focuses on proprietary designs meeting national and global standards.

Brokerage firms were mostly positive on the issue, suggesting to subscribe it for both listing gains and long-term basis. Ambit, Anand Rathi Advisors and IIFL Capital Services were the book running lead managers of HD Fire Protect IPO and MUFG Intime India served as the registrar of the issue.