India’s primary market will see two more public issues open for subscription next week, with fire protection equipment manufacturer HD Fire Protect Ltd and AI-powered customer experience solutions provider Fusion CX Ltd looking to raise a combined ₹1,414 crore.
While HD Fire Protect’s ₹712.13-crore IPO is entirely an offer for sale (OFS), Fusion CX plans to raise ₹702 crore through a combination of a fresh issue and an OFS. The two issues will give investors exposure to businesses operating in fire safety systems and technology-led customer experience solutions, respectively.
HD Fire Protect IPO GMP today, or grey market premium, is +75. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of HD Fire Protect share price was indicated at ₹346 apiece, which is 27.68% higher than the IPO price of ₹271.
Over the past five sessions, the IPO's GMP has remained relatively stable, with a limited movement of ₹5 and a GMP range of ₹17. The current GMP stands at ₹75, indicating steady grey market sentiment. Based on the latest premium, the estimated listing price is around ₹346, against the issue price of ₹271, according to market estimates.
HD Fire Protect IPO price band has been fixed at ₹258– ₹271 per share for its ₹712.13-crore IPO. The issue will open for subscription on 13 October and close on 15 October, while bidding by anchor investors is scheduled for 12 October.