HD Fire Protect IPO
HD Fire Protect IPO is a mainboard IPO raising ₹712 Cr at ₹258 – ₹271 a share. It listed on 21 Oct 2026 at ₹335, +23.6% against its issue price of ₹271, and trades at ₹281 today (+3.6% since issue). It was subscribed 132× in total.
131.7 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Who bid for it
| Investor category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| QIB Banks, funds and other large institutions | 52,42,672 | 1,34,55,42,605 | 257× |
| Foreign Institutional Investors | no separate quota | 24,35,85,650 | n/a |
| Domestic Financial Institutions | no separate quota | 63,77,95,125 | n/a |
| Mutual funds | no separate quota | 6,98,29,045 | n/a |
| Others | no separate quota | 39,43,32,785 | n/a |
| Non-institutional Wealthy individuals and companies bidding above ₹2 lakh | 39,32,005 | 79,90,03,480 | 203× |
| Non Institutional Investors | 26,21,337 | 61,90,76,590 | 236× |
| Corporates | no separate quota | 47,36,160 | n/a |
| Individuals | no separate quota | 59,26,34,075 | n/a |
| Others | no separate quota | 2,17,06,355 | n/a |
| Non Institutional Investors | 13,10,668 | 17,99,26,890 | 137× |
| Corporates | no separate quota | 3,19,715 | n/a |
| Individuals | no separate quota | 17,43,89,325 | n/a |
| Others | no separate quota | 52,17,850 | n/a |
| Retail Ordinary investors bidding up to ₹2 lakh | 91,74,677 | 27,97,75,375 | 30× |
| Cut Off | no separate quota | 24,37,40,805 | n/a |
| Price bids | no separate quota | 3,60,34,570 | n/a |
| Employees | 71,138 | 16,79,810 | 24× |
| Cut Off | no separate quota | 13,25,060 | n/a |
| Price Bids | no separate quota | 3,54,750 | n/a |
| Total | 1,84,20,492 | 2,42,60,01,270 | 132× |
Sub-categories read no separate quota rather than a dash: the exchange publishes bids at that level but never a reservation against them, so a subscription multiple does not exist — it is not missing data. Bids across both exchanges (NSE and BSE) — the figure usually quoted publicly. Last updated 16 Oct, 12:31 pm IST.
Where the bids landed
Demand barely changes across the price band — bidders were not price-sensitive. 10% of the book was bid at cut-off — investors who accept whatever price is set.
Cumulative shares bid for at each price, across both exchanges. “Cut-off” means the investor accepts whatever final price is set — mostly small retail applications. A band where demand barely changes between the low and high price tells you bidders were not price-sensitive.
How demand built
Our own series — the exchanges publish a running total and never a history.26 readings held.
Institutions typically enter the book on the final day, which is why a day-one subscription figure tells you very little.