The Rs.712.31-crore HD Fire Protect IPO opened for subscription on Tuesday, 13 October 2026, and demand built up fast — the issue was fully subscribed within hours of opening. By around 1 PM on Day 1, the IPO had drawn bids for nearly 3.58 crore shares against 1.84 crore shares on offer, translating to 1.94x overall subscription, as per NSE-sourced tracker data. Two SME IPOs — Ravita Engineering Services and Vaibhav Vyapaar — also opened for bidding today, while anchor bidding for Fusion CX is under way ahead of its 14 October opening.
HD Fire Protect Day 1 subscription (midday snapshot)
Category-wise subscription at around 12:50 PM on 13 October, from NSE bid data (figures update through the day):
| Category | Shares offered | Shares bid | Subscription |
|---|---|---|---|
| QIB | 52,42,673 | ~13,750 | 0.00x |
| NII (HNI) | 39,32,004 | 1,74,79,275 | 4.45x |
| Retail | 91,74,677 | 1,81,70,900 | 1.98x |
| Employee | 71,138 | 1,17,370 | 1.65x |
| Total | 1,84,20,492 | 3,57,81,295 | 1.94x |
- Fully subscribed within hours: NDTV Profit's live market blog reported 1.22x overall at 11:40 AM (retail 1.31x, NII 2.69x); demand nearly doubled again in the next hour.
- HNI sub-breakup: small HNIs (Rs.2–10 lakh bracket) led at 5.61x, followed by big HNIs (Rs.10 lakh+) at 3.86x.
- Applications: roughly 2.92 lakh applications had come in by noon.
- QIBs at zero is normal on Day 1 — institutional investors typically place bids on the final day of the issue.
Anchor book and GMP signal strong listing interest
- Anchor book: HD Fire Protect raised Rs.213.11 crore from 25 funds on 12 October, with domestic mutual funds taking roughly 72% of the anchor portion — a strong institutional endorsement before retail bidding began.
- GMP: the grey market premium was around Rs.85–89 — roughly 32% over the Rs.271 upper price band — in midday trading, per market trackers. (GMP is unofficial market-reported data, subject to change, and does not guarantee listing gains.)
- Brokerage views: BP Equities and Ventura Securities recommend 'Subscribe', citing the company's 21 UL-listed and 87 FM-approved certifications, 30.8% EBITDA margin and debt-free balance sheet; SAMCO recommends it for listing gains; SMC Global rates it 2/5 on the rich 40.7x FY26 P/E.
Read the full review here: HD Fire Protect IPO: Price Band, Dates, GMP & Review
Two SME IPOs opened today as well
Ravita Engineering Services (NSE SME) — Rs.116.05 crore fresh issue of 1.04 crore shares, price band Rs.105–112, lot of 1,200 shares (individual investors apply for a minimum of 2,400 shares, roughly Rs.2.52 lakh at the lower band). The HVAC/EPIC engineering firm — serving data centres and industrial facilities — carries an order book of about Rs.491.12 crore (30 June 2026). GMP was around Rs.12 (~+10.7%, unofficial) ahead of the open. Day 1 subscription figures for SME issues typically update in the evening, so no midday numbers were available at publish time.
Vaibhav Vyapaar (NSE Emerge) — Rs.42.10 crore fresh issue of 77.96 lakh shares, price band Rs.51–54, lot of 2,000 shares (minimum application 4,000 shares, Rs.2.04–2.16 lakh). The RBI-registered NBFC behind the LoanFront digital lending platform placed a Rs.11.88 crore anchor book on 12 October. GMP was nil (unofficial) at the open. Full review: Vaibhav Vyapaar IPO: Price Band, Dates, GMP & Review
Both SME issues close on 15 October, with allotment on 16 October and listing expected on 21 October.
GMP snapshot (midday, 13 October)
| IPO | Price band | GMP (unofficial) | Implied premium |
|---|---|---|---|
| HD Fire Protect | Rs.258–271 | ~Rs.89 | ~+32% |
| Ravita Engineering | Rs.105–112 | ~Rs.12 | ~+10.7% |
| Vaibhav Vyapaar | Rs.51–54 | Rs.0 | 0% |
| Tonbo Imaging (opens 15 Oct) | Rs.665–700 | ~Rs.270–375 | ~+53–61% |
Grey market premiums are unofficial, market-reported figures that can change through the day and do not guarantee listing gains.
What to watch next
- Fusion CX — the Rs.702 crore mainboard IPO (Rs.275–289 band) opens tomorrow, 14 October, with anchor bidding closing today. Details: Fusion CX IPO: Price Band, Dates, GMP & Review
- 15 October wave: Tonbo Imaging, Zetwerk (Rs.143–151), Bonfiglioli Transmissions, Sahajanand Medical (Rs.327–344) and Shellz open on 15 October.
- Allotment & listing: HD Fire Protect, Ravita Engineering and Vaibhav Vyapaar finalise allotment on 16 October and list on 21 October.
Morning GMP coverage: IPO GMP Today (13 Oct): 3 IPOs Open, HD Fire at 32%
FAQs
How many times was the HD Fire Protect IPO subscribed on Day 1?
By around 1 PM on Day 1 (13 October 2026), the issue was subscribed 1.94x overall — NII at 4.45x, retail at 1.98x, employee at 1.65x, with QIB bids yet to arrive.
What is the HD Fire Protect IPO GMP today?
The grey market premium was around Rs.85–89, roughly 32% over the Rs.271 upper price band, in midday trading on 13 October. GMP is unofficial and subject to change.
When does the HD Fire Protect IPO close?
The IPO closes on 15 October 2026.
What are the HD Fire Protect IPO allotment and listing dates?
Allotment is expected on 16 October 2026, and listing is tentatively scheduled for 21 October 2026 on the BSE and NSE.
Which other IPOs opened on 13 October 2026?
Ravita Engineering Services (Rs.116.05 crore SME IPO, Rs.105–112) and Vaibhav Vyapaar (Rs.42.10 crore SME IPO, Rs.51–54) both opened on 13 October and close on 15 October.
When does the Fusion CX IPO open?
Fusion CX opens on 14 October 2026 with a price band of Rs.275–289; anchor bidding closed on 13 October.
Conclusion
HD Fire Protect's Day 1 shows genuine investor appetite, led by HNI and retail interest with a solid anchor book and a ~32% GMP backing the issue. The real test comes on Day 3, when institutional bids typically arrive. Watch this space for the evening update with final Day 1 SME subscription numbers.