HD Fire Protect IPO
HD Fire Protect Limited (HDFIRE) · mainboard IPO on NSE and BSE · Book Building. Listed on 21 October 2026.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +37.8% (likely range +20% to +48%), day's high +44.1%, chance of a gain 97%. Actual: +23.6% at the open, +25.5% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 52,42,672 | 1,34,55,42,605 | 257x | |
| NII (HNI) total | 39,32,005 | 79,90,03,480 | 203x | |
| Big NII (above ₹10 lakh) | 26,21,337 | 61,90,76,590 | 236x | |
| Small NII (₹2-10 lakh) | 13,10,668 | 17,99,26,890 | 137x | |
| Retail | 91,74,677 | 27,97,75,375 | 30.5x | |
| Employees | 71,138 | 16,79,810 | 23.6x | |
| Total | 1,84,20,492 | 2,42,60,01,270 | 132x |
Bids on NSE and BSE together, as published by NSE, as of 15 Oct 2026, 07:00 PM. Shares offered exclude the anchor portion. 10% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to HD Fire Protect's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Corona RemediesDec 2025 | 279x | 209x | 28.7x | 137x | ₹691 Cr | +38.4% | +41.0% |
| CMR Green TechnologiesJun 2026 | 270x | 172x | 27.0x | 127x | ₹631 Cr | +39.6% | +40.1% |
| ESDS Software SolutionSep 2026 | 262x | 193x | 39.6x | 136x | ₹757 Cr | +76.5% | +111.8% |
| KusumgarJul 2026 | 284x | 165x | 26.5x | 129x | ₹685 Cr | +35.8% | +49.4% |
| Lumino IndustriesAug 2026 | 221x | 176x | 38.5x | 118x | ₹736 Cr | +34.1% | +45.1% |
| Caliber Mining and LogisticsJul 2026 | 241x | 267x | 41.1x | 147x | ₹475 Cr | +18.0% | +27.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Ambit | 13 | +24.3% | 69% |
| Anand Rathi Advisors | 11 | +28.5% | 91% |
| IIFL Capital Services | 94 | +19.3% | 71% |
Offer documents (NSE)
Frequently asked
What is the HD Fire Protect IPO price band and lot size? ₹258–271 per share, with a lot of 55 shares, so the smallest retail bid is ₹14,905.
How many times has it been subscribed? 132x overall: QIB 257x, NII 203x, retail 30.5x, employees 23.6x.
How did it list? It opened at ₹335, +23.6% against the issue price of ₹271, and closed its first day +13.2%.
