The HD Fire Protect IPO is scheduled for October 13–15, 2026, with a ₹258–₹271 price band, according to NSE’s forthcoming-issue details and BSE’s public-issue list. Its central funding distinction is easy to miss: all offered shares are existing shares being sold, rather than new shares issued to raise capital for the company.
Who receives the offer proceeds?
The October 5 red herring prospectus describes an offer for sale of up to 26,284,500 equity shares and marks the fresh-issue component as not applicable. An offer for sale transfers existing shareholders’ shares to buyers. It is not a new equity capital injection into the issuer.
Therefore, the total offer should not be described as money the company will receive for expansion, debt repayment or working capital. CapKet has not inferred a corporate spending plan from the size of this transaction. The prospectus also specifies an employee reservation of up to ₹17.50 million; NSE lists a ₹25-per-share discount for eligible employees bidding in that reserved portion.
What a standard minimum bid means
NSE lists a bid lot and minimum order quantity of 55 shares, with further bids in multiples of 55. CapKet calculation: 55 shares at the ₹271 cap price equal ₹14,905; at ₹258 the same quantity equals ₹14,190. These are application-value calculations before any applicable employee discount, not forecasts of the listing price or profit.
The ₹5 face value is the share’s stated nominal value, not its offer price. The prospectus warns that the offer price is not an indication of the eventual market price and that sustained trading is not assured.
Dates, mandate status and the next checkpoint
The prospectus schedules anchor bidding for October 12 and public bidding for October 13–15. NSE lists public bidding from 10 AM to 5 PM and UPI mandate confirmation by 5 PM on October 15. An application entry is not the same as a successfully accepted mandate or an allotment. Check your intermediary’s earlier operational cutoff rather than leaving confirmation to the last minute.
The registrar listed by NSE is MUFG Intime India Private Limited. Use the official offer documents and eventual registrar/exchange notices to check allotment and trading permission. This report does not establish a final allotment, listing-day price, subscription figure or grey-market premium.
For the contrasting fresh-issue structure, CapKet’s separate Ravita report explains proposed company funding rather than seller proceeds.
Sources and observation time
CapKet checked NSE’s HD Fire issue details, BSE’s public-issue list and the exchange-hosted prospectus bundle at 1:55 AM IST on October 11, 2026. The prospectus’s cover and schedule were reviewed; current price and lot terms come from the exchange detail page. This is a pre-opening report, not confirmation of bidding activity today.