IPO Subscription Today (15 Oct): HD Fire Protect Closes at ~32x; 5 New IPOs Open Day 1
The biggest midday story in the primary market today is a double close: the Rs.712.31 crore HD Fire Protect IPO ends its three-day bidding window today after a strong Day-3 surge to ~32.75x by midday, and the Vaibhav Vyapaar SME IPO also closes today. At the same time, five mainboard and SME issues — Tonbo Imaging, Bonfiglioli Transmissions, Zetwerk, Sahajanand Medical Technologies and Shellz India — opened for subscription this morning, with Tonbo leading at a 71% grey-market premium.
HD Fire Protect IPO: Day 3 closes at ~32.75x
HD Fire Protect, the fire-protection equipment maker, saw demand accelerate sharply on the final day. Per live IPO tracker data updated around 12:12 PM on Day 3:
- Overall subscription: ~32.75x (up from 16.50x at the end of Day 2)
- Non-institutional (HNI) investors: 106x — the standout segment
- Retail investors: 18.34x
- Qualified institutional buyers: 3.3x
The issue is entirely an offer for sale of 2.63 crore shares, priced in the Rs.258–271 band with a lot size of 55 shares (minimum retail investment Rs.14,905). The grey market premium was quoted at Rs.90 (~33%) around midday, implying an estimated listing price of about Rs.361 against the upper band — unofficial market data, not guaranteed.
Key dates: bidding closes 15 Oct; allotment expected 16 Oct; listing on the BSE and NSE on 21 Oct. The book was anchored by a Rs.213.11 crore anchor allocation across 25 funds. Full issue details are in our HD Fire Protect IPO deep-dive.
Five IPOs opened today: Day-1 subscription so far
Today is one of the busiest open-days of the season. Early Day-1 subscription figures (intraday, live trackers):
| IPO | Price band | Day-1 subscription | GMP (unofficial) | Issue size |
|---|---|---|---|---|
| Tonbo Imaging | Rs.665–700 | ~0.44x | Rs.500 (~71%) | Rs.852.18 cr |
| Bonfiglioli Transmissions | Rs.558–586 | ~0.07x | Rs.178 (~30%) | Rs.2,533.66 cr |
| Zetwerk | Rs.143–151 | ~0.01x | Rs.22 (~15%) | Rs.5,012.33 cr |
| Sahajanand Medical | Rs.327–344 | ~0.04x | Rs.41 (~12%) | Rs.475.48 cr |
| Shellz India (SME) | Rs.170–179 | Day 1 | Rs.0 | Rs.59.97 cr |
All four mainboard issues (Tonbo, Bonfiglioli, Zetwerk, Sahajanand) remain open until 19 Oct and are tentatively scheduled to list on 23 Oct. All GMP figures above are unofficial market quotes and can move quickly.
Read the full breakdowns: Tonbo Imaging IPO, Bonfiglioli Transmissions IPO, Zetwerk IPO, Sahajanand Medical IPO, Shellz India IPO. Today's morning GMP snapshot is here: IPO GMP Today (15 Oct).
Fusion CX Day 2; Ravita and Vaibhav SME updates
- Fusion CX IPO (Day 2): subscribed ~0.58x at midday, up from 0.41x on Day 1. The Rs.702 crore issue (Rs.275–289 band, 51-share lot) closes 16 Oct; allotment expected 19 Oct, listing 22 Oct. GMP quoted at Rs.33 (~11%), unofficial. Details: Fusion CX IPO deep-dive.
- Ravita Engineering (NSE SME, Day 2): closed Day 1 at 0.81x; the Rs.116.05 crore issue (Rs.105–112) runs 14–16 Oct.
- Vaibhav Vyapaar (SME): closes today, 15 Oct, after a soft Day 1 (0.19x); GMP quoted flat at Rs.0.
What to watch next
- Tomorrow (16 Oct): HD Fire Protect allotment; Fusion CX and Ravita Engineering close.
- 16 Oct: Canara Robeco lists (IPO closed 13 Oct).
- 21–23 Oct: the Jio Platforms IPO — India's largest-ever — opens for subscription (Rs.30,200 crore), with the GMP quoted at Rs.200–220 (~18–20%, unofficial). Details: Jio IPO RHP details.
FAQs
What was the final subscription of the HD Fire Protect IPO?
By midday on Day 3 (15 Oct), the Rs.712.31 crore IPO was subscribed ~32.75x overall — 106x by HNIs, 18.34x by retail investors and 3.3x by QIBs — up from 16.50x at the end of Day 2. Final numbers will be confirmed after the 5 PM close.
When will HD Fire Protect shares be allotted and listed?
Allotment is expected on 16 Oct 2026 and the shares are tentatively scheduled to list on the BSE and NSE on 21 Oct 2026.
Which IPOs are open for subscription today?
On 15 Oct: Tonbo Imaging, Bonfiglioli Transmissions, Zetwerk, Sahajanand Medical Technologies, Shellz India (SME), Fusion CX (Day 2), Ravita Engineering (Day 2, SME), and HD Fire Protect + Vaibhav Vyapaar (both closing today).
Is the Tonbo Imaging GMP of Rs.500 reliable?
No — grey market premiums are unofficial quotes from an unregulated market and can change within hours. The Rs.500 (~71%) figure signals strong early interest, but it does not guarantee listing gains.
What is the minimum investment in today's new IPOs?
At the upper price band: Tonbo Rs.14,700 (21 shares), Bonfiglioli Rs.14,650 (25 shares), Zetwerk Rs.14,949 (99 shares), Sahajanand Rs.14,792 (43 shares), Shellz Rs.2,86,400 (800 shares, SME).
Conclusion
Day 3's surge to ~32.75x confirms HD Fire Protect as the standout issue of this week's pack, with HNIs driving a 106x book and an unofficial ~33% grey-market premium pointing to a strong debut on 21 Oct. Among today's five new opens, Tonbo Imaging leads early interest with a 71% GMP but demand is still building — Day-1 retail participation will be the real signal to watch tomorrow. The 19 Oct pipeline (Jio, Paras Healthcare) keeps the primary market in overdrive through month-end.
Disclaimer: IPO subscription and GMP figures are intraday market-reported data and may differ from final exchange numbers. Grey market premiums are unofficial and subject to change. This article is for information only, not investment advice.