HD Fire Protect IPO oversubscribed 131.70 times, listing October 21
Business
HD Fire Protect's IPO just wrapped up and is set to list on BSE and NSE on October 21.
The buzz was real. Investors bid for over 2,426 million shares when only about 18.4 million were up for grabs, making it oversubscribed by a huge 131.70 times.
HD Fire Protect GMP signals ₹336
Shares were at the upper end of the IPO price band of ₹271 each, and as of October 19, the gray market premium (GMP) was around 24%. That hints at a possible listing price of ₹336 per share, so early investors might see some solid gains (though remember, GMP isn't official).
Most of the demand came from big institutional buyers who subscribed 256.65 times their reserved portion!
Also, since this was an offer for sale, the money goes to existing shareholders, not directly into the company.