HD Fire Protect IPO eyes 712.1cr as GMP nears 32%
HD Fire Protect, a Mumbai-based fire safety gear maker, is getting a lot of attention ahead of its IPO; its gray market premium (GMP) stood at nearly 32% on the morning of October 12 just before shares open for bidding this Tuesday.
The company is aiming to raise ₹712.1 crore, and the IPO will wrap up on Thursday.
Just a heads-up: GMPs are unofficial and can be pretty speculative.
HD Fire Protect ₹258-₹271 price band
Shares are priced between ₹258 and ₹271, with anchor investors coming in from Monday.
If you're thinking about applying, retail investors need to bid for at least 55 shares (which comes to ₹14,905 at the top price).
The split goes like this: 50% for big institutional buyers, 15% for non-institutional folks, and 35% set aside for retail investors. Employees get a special discount too.
Since it's an offer for sale, none of the raised money stays with the company itself.
Share allotment wraps up Friday and listing is set for October 21.