HD Fire Protect IPO Opens Today: GMP Signals 31.73% Listing Premium; Should You Apply Or Skip?

The HD Fire Protect IPO opens for subscription today, October 13th, and the enthusiasm is quite high in the grey market due to a good set of demand for the public issue.

Currently, HD Fire Protect IPO GMP stands at Rs. 86 per share, suggesting a potential listing premium of 31.73% over the upper end of the IPO price band.

HD Fire Protect is looking to raise Rs. 712.31 crore through an initial public offering (IPO) that is entirely an offer for sale (OFS). The IPO will be open for subscription until October 15th.

The company has fixed the price band at Rs. 258 to Rs. 271 per share, while the minimum application size for retail investors is 55 shares. At the upper price band, investors will need Rs. 14,905 to apply for one lot.

HD Fire Protect IPO GMP Today

As per data from Investorgain, the grey market premium for the HD Fire Protect IPO was Rs. 86 per share as of this morning on October 13 Based on the upper price band of Rs. 271, the estimated listing price could be Rs. 357 per share.

If the shares were to list at Rs. 357, an investor allotted one lot of 55 shares at Rs. 271 would have an indicative gain of Rs. 4,730 before applicable charges and taxes.

However, this is only an estimate based on the reported GMP. The actual listing price may be higher or lower, and the premium can change during the subscription period.

Should You Apply For HD Fire Protect IPO

The issue is mostly received a positive rating from the Brokerage houses which have reviewed the IPO.

Choice Equity Broking in its IPO note said, "The issue is a pure Offer for Sale (OFS), and promoters have taken sizable payouts before the IPO. At the upper band, the issue is priced at 40.66x based on FY26 EPS of Rs. 6.66, which is the same before and after the issue. HDFPL offers about 30% RoE, a debt-free balance sheet and a stronger entry barrier. Given the long growth runway, funded expansion and margin upside, we recommend a "SUBSCRIBE FOR LONG-TERM" rating on the issue."

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