HD Fire Protect's initial public offering (IPO) was subscribed 4.62 times on its first day of bidding on October 13, attracting bids for 8.5 crore shares against 1.84 crore shares available, according to NSE data reported by livemint.com. The ₹712-crore issue saw strong demand across investor categories, with non-institutional investors subscribing 11.38 times and retail investors 3.78 times. The IPO subscription window closes on October 15.
The IPO's qualified institutional buyers (QIBs) portion was subscribed 1.04 times. Meanwhile, Fusion CX's IPO subscription opened on October 14 and will close on October 16. In the grey market, HD Fire Protect shares commanded a ₹91 grey market premium (GMP), while Fusion CX shares traded at a ₹33.5 GMP, according to Investorgain data cited by livemint.com.
The strong subscription and grey market premium for HD Fire Protect indicate robust investor interest ahead of listing. The GMP trends suggest HD Fire Protect shares could list at ₹362, about 33.58% higher than the IPO price band. This level of oversubscription and premium is notable compared to typical mainboard IPOs in India and reflects positive market sentiment toward the company’s offering.
HD Fire Protect’s IPO subscription closes on October 15, with Fusion CX’s subscription ending on October 16. The final listing price and market debut will be closely watched by investors and market participants following these subscription windows, as detailed by livemint.com.