Business · India Bureau
HD Fire Protect shares surge 24% on debut after blockbuster IPO
The fire safety equipment manufacturer's stock listing marked a strong market reception, with the issue oversubscribed by 132 times. Shares opened with healthy premiums on both major Indian bourses.
LSN India ·
HD Fire Protect made a confident debut on Indian stock exchanges on Tuesday, with shares commanding a significant premium over their initial public offering price of ₹272.
On the BSE, the stock opened at ₹334, representing a gain of 23.39 per cent, while NSE saw marginally stronger performance with an opening price of ₹335, a premium of 23.62 per cent. The measured but solid listing reflected strong demand for the company's shares during the subscription period.
The IPO had garnered extraordinary investor interest, with the offering oversubscribed 132 times—a clear indicator of confidence in the fire safety equipment manufacturer's business prospects. Retail and institutional investors alike had shown keen appetite for the company's shares, driving the massive subscription multiple.
HD Fire Protect, which specializes in fire detection and suppression systems, has positioned itself to capitalize on growing safety compliance requirements across India's commercial and industrial sectors. The successful listing now opens a new chapter for the company's expansion plans and capital-raising initiatives.