HD Fire Protect IPO Opens; GMP Reports Point To 30-32% Possible Listing Gains

The HD Fire Protect IPO has opened for subscription, with early grey market premium (GMP) readings pointing to possible listing gains, according to reports dated 13 Oct 2026.

Moneycontrol reported that the issue was subscribed 15% so far on the opening day, while placing the GMP at 32%.

The Economic Times separately said the GMP signalled 30% listing gains.

Goodreturns reported a GMP indicating a 31.73% listing premium and framed the issue around whether investors should apply or skip it.

GMP readings vary across reports

The three reported figures, 30%, 32% and 31.73%: are not identical, so the supplied reports do not present one uniform GMP reading for HD Fire Protect.

However, all three reports connect the grey market indicator with the expected listing performance of the IPO.

The Economic Times used the GMP to signal listing gains, Moneycontrol reported it as 32%, and Goodreturns described it as a listing premium.

These figures are therefore being presented in the reports as market indications linked to listing performance, rather than as a confirmed listing result.

Coverage focuses on whether to apply

Business Today also reported that the IPO opened and raised the question of whether investors should apply.

Its report highlighted the price band, reviews and latest GMP as key points for consideration.

The framing shows that the early GMP reading is being discussed alongside other IPO-related details, although the supplied source does not provide the price band or the contents of those reviews.

Livemint placed HD Fire Protect in a comparison with Zetwerk, Fusion CX, Bonfiglioli and Tonbo while asking readers to check which IPO had the strongest GMP.

That comparison makes HD Fire Protect part of a wider discussion of IPO grey market premiums in the reports published on 13 Oct 2026.

For HD Fire Protect, the verified developments in the supplied reports are the opening of the subscription, the reported 15% subscription level so far on opening day, and the GMP readings ranging from 30% to 32%, including the separate 31.73% listing-premium figure.