IPO GMP Today (14 Oct): Fusion CX & Ravita Open, HD Fire Protect Leads at ~33%
Wednesday brings two fresh IPOs to the primary market: Fusion CX (mainboard, ₹702 crore) and Ravita Engineering Services (NSE SME) both open for subscription today and close on Friday, 16 October. In the grey market, HD Fire Protect holds the lead at roughly ₹86–91 (about 31–34%) on the second day of its bidding, while Tonbo Imaging stays the outright GMP leader at ₹460 (~66%) ahead of tomorrow's five-IPO opening rush. All premiums below are market-reported and unofficial — they can change fast and are not a prediction of the listing price.
Mainboard IPO GMP today (14 Oct 2026)
| IPO | GMP (₹) | Price band (₹) | Est. listing price (₹) | Est. gain (%) |
|---|---|---|---|---|
| HD Fire Protect | 86–91 | 258–271 | 357–362 | ~31–34% |
| Fusion CX | 25 | 275–289 | ~314 | ~8.7% |
| Tonbo Imaging | 460 | 665–700 | ~1,160 | ~65.7% |
| Bonfiglioli Transmissions | 155 | ~586 | ~741 | ~26.5% |
| Sahajanand Medical | 42 | 327–344 | ~386 | ~12.2% |
| Zetwerk | 20 | 143–151 | ~171 | ~13.3% |
| Jio Platforms | 211 | 1,065–1,119 | ~1,330 | ~18.9% |
Source: market trackers (Investorgain, IPO Watch) on the morning of 14 October 2026. Unofficial figures.
SME IPO GMP today (14 Oct 2026)
| IPO | GMP (₹) | Price band (₹) | Est. listing price (₹) | Est. gain (%) |
|---|---|---|---|---|
| Ravita Engineering Services | 4 | 105–112 | ~116 | ~3.6% |
| Vaibhav Vyapaar | 0 | 51–54 | — | — |
| Shellz India | 0 | ~179 | — | — |
Fusion CX IPO opens today: ₹315 crore anchor book led by domestic MFs
The Kolkata-based AI-powered customer-experience (BPO) firm's ₹702 crore IPO opens today and closes on 16 October. The price band is ₹275–289 per share with a lot size of 51 shares, so retail investors need at least ₹14,739 at the upper band. The issue combines a ₹500 crore fresh issue with a ₹202 crore offer for sale.
Yesterday the company raised ₹315 crore from anchor investors at ₹289 per share, allotting 1.09 crore shares. Domestic mutual funds took 77.84% of the anchor book — six fund houses picked up 85.09 lakh shares across 15 schemes — with Kotak Mahindra Mutual Fund, ICICI Prudential, Motilal Oswal, Quant, ITI and JM Financial participating. Other anchors include Kotak Mahindra Life Insurance, Ashish Kacholia-backed Bengal Finance and Investment, Natixis Investment Managers and Meru Investment Fund PCC-Cell 1. Lead managers are Nuvama, IIFL and Motilal Oswal; KFin Technologies is the registrar. Allotment is expected on 19 October and listing on 22 October. Read the full Fusion CX IPO deep-dive for the financials and review.
Ravita Engineering Services IPO opens today on NSE SME
The ₹116.05 crore SME IPO is an entirely fresh issue of 1.04 crore shares, priced at ₹105–112 with a lot size of 1,200 shares. Retail investors must apply for a minimum of 2,400 shares, which works out to ₹2,68,800 at the upper band. The issue closes on 16 October, with allotment expected on 19 October and a tentative NSE SME listing on 22 October. Vivro Financial Services is the lead manager and MUFG Intime is the registrar. The grey market premium this morning is just ₹4 (~3.6%), so listing-pop expectations are modest — subscribers should go in on the company's fundamentals, not the GMP.
HD Fire Protect Day 2: fully booked at 4.62x, GMP steady
HD Fire Protect enters its second bidding day after closing Day 1 at 4.62 times — NII at 11.38x, retail at 3.78x and QIB at 1.04x. The ₹258–271 IPO (a ₹712 crore pure offer for sale) has drawn a ₹213.11 crore anchor book, and its GMP of ₹86–91 implies a listing around ₹357–362. Bidding for Day 2 runs today and the issue closes tomorrow, 15 October. Full details in the HD Fire Protect IPO deep-dive.
Vaibhav Vyapaar Day 2: muted start at 0.19x
The NSE Emerge SME IPO (₹51–54, 2,000-share lot, ₹42.1 crore issue) closed its first day at just 0.19x with a zero GMP, and will need the next two days to build momentum before it closes on 15 October. Details are in the Vaibhav Vyapaar IPO deep-dive.
Five IPOs open tomorrow (15 Oct): Tonbo leads the pack
Thursday is the biggest opening day of the week, with Zetwerk (₹143–151), Tonbo Imaging (₹665–700), Bonfiglioli Transmissions, Sahajanand Medical (₹327–344) and Shellz India (SME) all opening together. Tonbo Imaging remains the clear grey-market favourite at ₹460 (~66%), followed by Bonfiglioli at ₹155 (~26.5%), Zetwerk at ₹20 (~13.3%) and Sahajanand Medical at ₹42 (~12.2%). Deep-dives: Tonbo Imaging, Zetwerk, Bonfiglioli, Sahajanand Medical.
Key IPO dates: 14–23 October 2026
| IPO | Open | Close | Allotment (expected) | Listing (expected) |
|---|---|---|---|---|
| Fusion CX | 14 Oct | 16 Oct | 19 Oct | 22 Oct |
| Ravita Engineering (SME) | 14 Oct | 16 Oct | 19 Oct | 22 Oct |
| HD Fire Protect | 13 Oct | 15 Oct | 16 Oct | 21 Oct |
| Vaibhav Vyapaar (SME) | 13 Oct | 15 Oct | 16 Oct (tentative) | 21 Oct (tentative) |
| Zetwerk / Tonbo / Bonfiglioli / Sahajanand / Shellz | 15 Oct | 19 Oct | 20 Oct (tentative) | 23 Oct (tentative) |
| Jio Platforms | 21 Oct (reported) | 23 Oct (reported) | — | 28 Oct (reported) |
For the full week calendar, see Upcoming IPOs This Week (12–18 Oct) and yesterday's GMP roundup.
FAQs
Which IPOs are opening today, 14 October 2026?
Fusion CX (mainboard, ₹702 crore) and Ravita Engineering Services (NSE SME, ₹116.05 crore). Both run from 14 to 16 October.
What is the HD Fire Protect IPO GMP today?
HD Fire Protect is commanding a GMP of roughly ₹86–91 this morning, implying a listing price around ₹357–362 against the ₹271 upper band — about 31–34%. This is unofficial and can change.
What is the Fusion CX IPO GMP today?
Fusion CX's GMP is around ₹25 (about 8.7% over the ₹289 upper band) and has cooled from ₹50–55 earlier in the week. Unofficial, subject to change.
How much did Fusion CX raise from anchor investors?
₹315 crore at ₹289 per share, with domestic mutual funds taking 77.84% of the anchor book.
Which IPOs open on 15 October?
Zetwerk, Tonbo Imaging, Bonfiglioli Transmissions, Sahajanand Medical Technologies and Shellz India (SME).
Conclusion
Today's primary-market action belongs to the two new openers: Fusion CX, whose strong ₹315 crore anchor book led by domestic mutual funds suggests institutional confidence despite a cooling GMP, and the SME debut of Ravita Engineering. HD Fire Protect looks on course for a healthy listing after a 4.62x Day 1, while Vaibhav Vyapaar needs a late surge. Tomorrow's five-IPO wave — led by Tonbo Imaging's scorching ₹460 GMP — makes this one of the busiest IPO weeks of the year. As always, treat GMP as a mood indicator, not a promise, and base subscription decisions on the company's financials.