The initial public offering (IPO) of HD Fire Protect remained in strong demand on the final day of bidding, with the issue receiving 20.54 times subscription by 10:20 Am on October 15, as per the NSE data.
In the grey market, HD Fire Protect shares were commanding a premium of nearly 33 percent on the morning of October 15, according to market tracking platform InvestorGain. Grey market premiums are unofficial indicators of investor sentiment and do not guarantee listing gains.
HD Fire Protect has fixed a price band of Rs 258–271 per share for the public issue, which will remain open for subscription until October 15.
Investors can bid for a minimum of 55 equity shares and in multiples of 55 shares thereafter. At the upper end of the price band, the minimum investment for retail investors stands at Rs 14,905.
The allotment of shares is expected to be finalised on October 16, while the company's shares are scheduled to list on the stock exchanges on October 21.