IPO GMP comparison: Two mainboard initial public offerings (IPOs) – HD Fire Protect and Fusion CX will remain open for bidding on Wednesday, 14 October.
HD Fire Protect IPO opened for subscription on Tuesday, 13 October and will close on Thursday, 15 October. Meanwhile, Fusion CX IPO will open for subscription today, 14 October and close on Friday, 16 October.
Tonbo Imaging India IPO will open for bidding on Thursday, 15 October and will close on Monday, 19 October.
HD Fire Protect vs Fusion CX – Subscription status
HD Fire Protect IPO was subscribed 4.62 times on the first day of bidding on Tuesday. The ₹712-crore issue attracted bids for 8,50,40,395 shares against 1,84,20,492 shares available for subscription, according to data from the NSE.
Among investor categories, the non-institutional investors’ portion was subscribed 11.38 times, while the retail investors’ quota received 3.78 times subscription. The portion reserved for qualified institutional buyers (QIBs) was subscribed 1.04 times.
Meanwhile, the three day subscription window of Fusion CX IPO will open today.
HD Fire Protect vs Fusion CX vs Tonbo Imaging India – GMP today
The shares of HD Fire Protect IPO are commanding a strong premium in the grey market. The GMP of HD Fire Protect IPO stood at ₹91, according to Investorgain.
On the other hand, the shares of Fusion CX IPO is also trading positive in the unlisted market. The GMP of Fusion CX IPO is ₹33.5.
The shares of Tonbo Imaging India is also commanding a strong premium of ₹500 ahead of the opening.
HD Fire Protect vs Fusion CX vs Tonbo Imaging India – Listing share price prediction
According to the GMP trends, the shares of HD Fire Protect IPO is likely to list at ₹362, which is 33.58% higher than the IPO price of ₹271.
The GMP trends of Fusion CX IPO indicated an estimated listing price of ₹322.5, which is 11.59% higher than the IPO price of ₹289.
Meanwhile, the estimated listing price of Tonbo Imaging India IPO is likely to be ₹1200, which is 71.43% higher than the IPO price of ₹700.
HD Fire Protect IPO details
HD Fire Protect has set the price band for its initial public offering (IPO) at ₹258-271 per share. The issue is entirely an offer for sale (OFS) of 2.63 crore equity shares by promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi.
As the IPO comprises only an OFS, the company will not receive any proceeds from the issue. At the upper end of the price band, HD Fire Protect is valued at around ₹4,750 crore. The company raised ₹213.11 crore from anchor investors on Monday.
Ambit Pvt. Ltd. is the book-running lead manager for the IPO, while MUFG Intime India Pvt. Ltd. is the registrar to the issue.
Mumbai-based HD Fire Protect designs and manufactures fire protection equipment and systems, offering water-, foam- and gas-based fire suppression solutions. The company operates two manufacturing facilities in Maharashtra and caters to a range of industries, including oil and gas, refining, petrochemicals, power, pharmaceuticals, aerospace, data centres and warehousing.
Fusion CX IPO details
The ₹702 crore IPO of Fusion CX, a customer experience solutions provider, will open for subscription on October 14 and close on October 16. The company has set the price band at ₹275–289 per share.
The issue comprises a fresh share sale worth ₹500 crore and an offer for sale (OFS) of 69.90 lakh shares valued at ₹202 crore. The proceeds from the fresh issue will go to the company, while the OFS will enable existing shareholders to sell a portion of their stake.
The IPO allotment is expected to be finalised on October 19, and the shares are scheduled to list on the stock exchanges on October 22. Nuvama Wealth Management Ltd is the book-running lead manager for the issue, while KFin Technologies Ltd is the registrar.
Fusion CX plans to use part of the fresh issue proceeds to repay or prepay certain outstanding borrowings of the company and its subsidiaries, including select step-down subsidiaries. It also intends to invest in its step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited, to upgrade its information technology tools, including Arya and MindVoice.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
