HD Fire Protect IPO Day 1: Check subscription status, price band, lot size and key details

The initial public offering of HD Fire Protect Ltd, which makes fire protection equipment, opened for subscription on Tuesday, October 13. The issue will conclude on October 15.

The ₹712.31 crore public issue is entirely an offer for sale (OFS) of 2.63 crore shares by promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi.

"Our company expects that listing of the equity shares will enhance our visibility and brand image and provide liquidity and a public market for the equity shares in India," the company said in its RHP.

With a price band of ₹258 to ₹271 per share, a lot consists of 55 shares.

HD Fire Protect IPO Day 1: Subscription status

The subscription details for Day 1 of the issue will be available post 10 am.

Before the IPO, the company raised ₹213.11 crore from anchor investors, including Bajaj Life Insurance, Axis Max Life Insurance, Allianz Global Investors Fund, Kotak Mutual Fund (MF), ICICI Prudential MF, Aditya Birla Sun Life MF, HDFC MF, Mirae Asset MF, UTI MF and Bandhan MF.

The firm allotted 78.64 lakh shares to 25 funds at ₹271 per share, the upper price band.

Mumbai-based HD Fire Protect designs and manufactures fire protection equipment and systems, including water-, foam- and gas-based fire suppression solutions. It operates two manufacturing facilities in Maharashtra and serves sectors such as oil and gas, refining, petrochemicals, power, pharmaceuticals, aerospace, data centres and warehousing.

The company has supplied fire protection equipment for several prominent projects, including India's new Parliament building, the country's largest refinery in Jamnagar and installations at the space launch facility in Sriharikota.

The company's shares are expected to list on the NSE and the BSE on October 21.

Ambit, IIFL Capital Services and Anand Rathi Advisors are the issue's book-running lead managers, while MUFG Intime India serves as the registrar.