HD Fire Protect IPO closes today, subscribed over 20 times by mid-morning
Representative image: Antranias / Pixabay
HD Fire Protect's Rs 712 crore IPO, an offer for sale, closes on October 15, 2026; it was subscribed about 20.7 times by 10:20 am, with listing set for October 21.
What Happened
The initial public offering (IPO) of HD Fire Protect, a maker of fire protection equipment and systems, closes for bidding on Thursday, October 15, 2026, after strong demand. By 10:20 am on the final day, the Rs 712 crore issue had been subscribed about 20.7 times overall, up from 16.5 times at the end of the second day. The issue is priced between Rs 258 and Rs 271 a share and is entirely an offer for sale by the promoters, so the company itself will not receive any of the money raised. Share allotment is expected on October 16 and listing on the NSE and BSE on October 21.
Key Facts
- Issue size: about Rs 712 crore; 2,62,84,500 shares, all an offer for sale.
- Sellers: promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi.
- Price band: Rs 258 to Rs 271; lot size 55 shares.
- Bidding: October 13 to 15, 2026; allotment expected October 16; listing expected October 21.
- Subscription: about 16.5 times at the end of day 2; about 20.7 times by 10:20 am on day 3.
- Mid-morning day 3 by category: non-institutional investors about 64 times, retail about 13 times, qualified institutions about 1.5 times, employees about 9 times.
- Anchor book: Rs 213.11 crore from 25 institutions at Rs 271 a share, with domestic mutual funds taking about 72%.
Why It Matters
HD Fire Protect makes and supplies equipment and systems used to protect buildings and industrial sites from fire, and exports bring in around a third of its revenue.
The strong subscription, especially from wealthy individual investors in the non-institutional category, shows how hot demand remains for new listings in India this October, a month crowded with large and small IPOs. Qualified institutional buyers had bid only about 1.5 times their quota by mid-morning, and institutions often bid late on the final day.
Investors should note two points. First, because the issue is entirely an offer for sale, the money goes to the promoters, not into the business; it does not fund new capacity or reduce debt. Second, the grey market premium, an unofficial indicator of expected listing gains that trackers put at around Rs 88 to Rs 92 a share, is not regulated and can change quickly. It is not a guarantee of how the shares will list.
| Detail | Information |
|---|---|
| Price band | Rs 258 - Rs 271 |
| Lot size | 55 shares |
| Issue size | About Rs 712 crore (offer for sale) |
| Allotment (expected) | October 16, 2026 |
| Listing (expected) | October 21, 2026, NSE and BSE |
Impact
Short-term: Final subscription figures, due after bidding closes, will show how heavily institutions and retail investors came in on the last day. With heavy oversubscription, many retail applicants are likely to receive no allotment.
Long-term: Once listed, the company's share price will depend on its earnings growth and on how the market values fire-safety and industrial equipment makers, not on the listing-day mood.
Who is affected: Investors who bid in the IPO; the promoters selling part of their stake; the company's employees, who had a reserved quota; and other fire-safety and industrial equipment firms that may look at listing.
Key Takeaway
HD Fire Protect's Rs 712 crore IPO drew more than 20 times the shares on offer by the morning of its final day, but as a pure offer for sale, the proceeds go to its promoters, not the company.
Questions and Answers
What is the HD Fire Protect IPO subscription status?
The issue was subscribed about 16.5 times at the end of day 2, October 14, and about 20.7 times by 10:20 am on the final day, October 15, 2026. Final figures come after bidding closes.
What is the HD Fire Protect IPO price band and lot size?
The price band is Rs 258 to Rs 271 a share, and the minimum bid is one lot of 55 shares.
When is the HD Fire Protect IPO allotment and listing date?
Allotment is expected on October 16, 2026 and listing on the NSE and BSE on October 21, 2026. Check the registrar's website for your allotment status.
Will HD Fire Protect get money from the IPO?
No. The entire issue is an offer for sale by the promoters, Harish Narshi Dharamshi and Kusum Harish Dharamshi, so the proceeds go to them.
Disclaimer: Prepared by the Peepals newsroom from publicly available sources with AI assistance. Information is accurate to the best of our knowledge at the time of publication and may change. Images may be representative. Not professional advice. Report an error via our contact page.
Sourced and fact-checked by the Peepals Global Editorial Team
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Reported, fact-checked and published by the Peepals Global Editorial Team.
