HD Fire Protect shares are commanding a strong grey market premium of 24 percent ahead of the stock market debut on October 21, following impressive investor interest for the company's initial public offering (IPO).
According to InvestorGain, a platform tracking the grey market premium, the GMP of HD Fire Protect was Rs 65 per share on October 19. At the upper end of the IPO price band of Rs 271, this indicates a potential listing price of Rs 336, translating into a potential gain of 23.99 percent for investors.
However, the GMP is an unofficial indicator of market sentiment and does not guarantee the actual listing price. It can fluctuate before the shares begin trading on the stock exchanges.
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The basis of allotment for HD Fire Protect's IPO was scheduled to be finalised on October 16. Refunds for unsuccessful applicants and the credit of shares to successful applicants' Demat accounts were scheduled for October 19.