HD Fire Protect IPO Day 1: Closes at 4.62x; Vaibhav Vyapaar 0.19x, Ravita Opens Oct 14
The HD Fire Protect IPO closed its first day of bidding at 4.62 times overall on Tuesday, 13 October 2026, with non-institutional investors bidding 11.38 times their quota and retail investors at 3.78 times, according to end-of-day NSE data. The SME counter was quieter: Vaibhav Vyapaar ended Day 1 at just 0.19 times. Meanwhile, Ravita Engineering's IPO — widely listed as opening today — actually opens on Wednesday, 14 October, with anchor bidding held today.
HD Fire Protect IPO Day 1 Subscription: 4.62x
The Rs.712.31 crore issue, a pure offer-for-sale of 2.63 crore shares, received bids for 8,50,40,395 shares against 1,84,20,492 shares on offer. Demand picked up steadily through the day: it crossed 1.23x within the first 90 minutes, touched 4.10x by mid-afternoon, and closed at 4.62x.
| Investor category | Subscription (times) |
|---|---|
| Non-Institutional Investors (NII) | 11.38x |
| Individual / Retail Investors | 3.78x |
| Qualified Institutional Buyers (QIB, ex-anchor) | 1.04x |
| Total | 4.62x |
Within the NII segment, the small-NII (sNII) portion was subscribed about 11.02 times while the big-NII (bNII) portion saw around 9.11 times bids. Institutional bidding traditionally accelerates on the final day, so the QIB portion at 1.04x could move substantially before the issue closes on 15 October.
HD Fire Protect GMP Today
The grey market premium (GMP) for HD Fire Protect was around Rs.91 late in the evening, per InvestoGain's tracker — implying an indicative listing price of about Rs.362, roughly 33.6% above the Rs.271 upper band. GMP is an unofficial, market-reported figure and can change quickly; it does not guarantee the actual listing price. Earlier in the day, premiums were quoted in the Rs.85–Rs.89 range.
HD Fire Protect IPO Details
| Issue size | Rs.712.31 crore (pure OFS, 2.63 crore shares) |
| Price band | Rs.258–271 per share |
| Lot size | 55 shares (min. Rs.14,905 at upper band) |
| Open / close | 13 – 15 October 2026 |
| Anchor book | Rs.213.11 crore (78.65 lakh shares) |
| Allotment | 16 October 2026 (tentative) |
| Listing | 21 October 2026 (tentative), BSE & NSE |
HD Fire Protect is a fire-protection systems manufacturer with a 36-year track record, 21 UL Listed and 87 FM Approved certifications — the highest among Indian peers — and a debt-free balance sheet. For FY26 it reported revenue of Rs.489.28 crore and PAT of Rs.116.79 crore. Brokerages including BP Equities and Ventura recommend subscribing, valuing it at about 40.7x FY26 EPS; SMC Global is more cautious at 2 out of 5. Key risks flagged: the pure-OFS structure (no fresh capital retained), modest 6.4–6.6% PAT growth in FY26, and supplier concentration. Read our full review: HD Fire Protect IPO: Price Band, Dates, GMP & Review.
Vaibhav Vyapaar IPO Day 1: 0.19x
The LoanFront operator's Rs.42.10 crore NSE SME IPO got off to a slow start. As of late evening, it had received applications for about 9.74 lakh shares against 52.06 lakh net shares on offer — 0.19 times. NII was the relatively strongest segment at 0.42x, retail at 0.20x, while QIB remained at zero. GMP is Rs.0 (unofficial).
| Investor category | Subscription (times) |
|---|---|
| NII (HNI) | 0.42x |
| Individual / Retail | 0.20x |
| QIB | 0x |
| Total | 0.19x |
Vaibhav Vyapaar is an RBI-registered NBFC offering unsecured personal loans through its digital platform LoanFront. The issue is a pure fresh issue priced at Rs.51–Rs.54, with a 2,000-share lot; retail investors must apply for 2 lots (4,000 shares, Rs.2,16,000 at the upper band). The IPO closes on 15 October, with allotment expected on 16 October and listing on 21 October. KFin Technologies is the registrar. Full review: Vaibhav Vyapaar IPO: Price Band, Dates, GMP & Review.
Correction: Ravita Engineering IPO Opens 14 October, Not 13
Several IPO trackers listed Ravita Engineering Services as opening today, 13 October. The company and its book-running lead manager Vivro Financial Services have clarified that anchor bidding took place today (13 October) and public subscription opens tomorrow, Wednesday 14 October, closing Friday 16 October. SME subscription data is therefore not yet available.
| Issue size | Rs.116.05 crore (pure fresh issue) |
| Price band | Rs.105–Rs.112 per share |
| Lot size | 1,200 shares |
| Open / close | 14 – 16 October 2026 |
| Anchor book | 13 October 2026 |
| Listing | ~21–22 October 2026 (tentative), NSE SME |
| BRLM / Registrar | Vivro Financial Services / MUFG Intime India |
Ravita is a Kolkata-headquartered EPIC (engineering, procurement, installation and commissioning) contractor for HVAC systems, chillers and industrial compressors, with onshore, offshore and data-centre verticals. It reported FY26 revenue of Rs.277.6 crore and PAT of Rs.28 crore (+137% year-on-year). GMP is around Rs.4–Rs.10 (unofficial).
What Next: This Week's IPO Calendar
- 14 October: Fusion CX Rs.702 crore IPO opens (anchor bidding today); Ravita Engineering opens.
- 15 October: HD Fire Protect, Vaibhav Vyapaar and Ravita issues close.
- 16 October: Allotments for HD Fire Protect, Vaibhav Vyapaar and Ravita expected.
- 21 October: Tentative listings for HD Fire Protect and Vaibhav Vyapaar.
For the full week view, see Upcoming IPOs This Week (12–18 Oct): Dates, GMP & Sizes and our Fusion CX IPO review.
FAQs
What was HD Fire Protect's final Day 1 subscription?
4.62 times overall on 13 October 2026, per end-of-day NSE data — NII 11.38x, retail 3.78x, QIB 1.04x.
What is HD Fire Protect's GMP today?
Around Rs.91 late on 13 October (unofficial, InvestoGain), implying an indicative listing near Rs.362 — about 33.6% over the Rs.271 upper band. GMP is unofficial and changes frequently.
What was Vaibhav Vyapaar's Day 1 subscription?
0.19 times as of late evening on 13 October — NII 0.42x, retail 0.20x, QIB nil. GMP is Rs.0 (unofficial).
When does the Ravita Engineering IPO open?
Public subscription opens Wednesday 14 October and closes Friday 16 October 2026, with listing expected around 21–22 October on NSE SME. Anchor bidding was held on 13 October.
When does the HD Fire Protect IPO close?
Thursday 15 October 2026. Allotment is expected on 16 October and listing on 21 October (tentative).
Conclusion
HD Fire Protect has had a textbook strong opening day — fully subscribed within 90 minutes and closing at 4.62x with a GMP near Rs.91, keeping it on track for a premium listing on 21 October. Vaibhav Vyapaar's 0.19x Day 1 is a soft start typical of niche SME issues, with Day 3 expected to decide its fate. And for investors who tried bidding for Ravita Engineering today: the counter opens tomorrow, 14 October. Watch the QIB books on the final day — they usually tell the real story.