HD Fire Protect shares made a strong debut on the stock exchanges on October 21, listing at a premium of around 24% over the initial public offering (IPO) price of Rs 271 per share.
The stock listed at Rs 335 on the National Stock Exchange (NSE), marking a premium of 23.62% over the issue price. On the BSE, the shares debuted at Rs 334.40, translating into a listing gain of 23.39%.
The listing was broadly in line with grey market expectations. The grey market premium (GMP) had indicated a potential listing gain of around 25% on the morning of October 21, according to Investorgain.
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The IPO opened for subscription on October 13 and closed on October 15. The company fixed the price band at Rs 258-271 per share, with a lot size of 55 shares. At the upper end of the price band, retail investors had to invest a minimum of Rs 14,905 to apply for one lot.