Business
HD Fire Protect lists at nearly 24 percent premium
The Hindu BusinessLine·
HD Fire Protect shares listed at a premium of nearly 24 percent over the Rs 271 issue price on Wednesday. On the NSE the stock opened at Rs 335, up 23.62 percent, before trading at Rs 306.75. On the BSE it debuted at Rs 334.40 and later traded at Rs 304.70. NSE market capitalisation stood near Rs 5,284 crore.
Prism
What It Means For You
- The price band before listing was Rs 258-271 per share.
- After the open, the NSE price was down 8.43 percent from the listing print in the report snapshot.
- The IPO was an offer for sale of 2.63 crore equity shares by promoters.
What's Happening
- The BSE debut was up 23.39 percent over the issue price at Rs 334.40.
- Later BSE trade at Rs 304.70 was down 8.88 percent from the opening level.
- The company makes water, foam and gas-based fire suppression equipment in Maharashtra.
What HD Fire Protect sells
- Customers span oil and gas, refining, power, pharmaceuticals and data centres.
- Projects cited include the Parliament building and Sriharikota installations.
- The Mumbai-based offer had no fresh-issue component.
all-news
