2 hrs ago

HD Fire Protect, Fusion CX IPOs Show Different GMPs

IPO GMP compared: Fusion CX vs HD Fire Protect · livemint.com

Two companies in India plan to sell shares to the public next week.

HD Fire Protect makes equipment that helps fight fires.

Fusion CX provides customer support services that use artificial intelligence.

Together, the companies aim to raise ₹1,414 crore.

HD Fire Protect’s IPO is made up only of shares being sold by its promoters, so the company will not receive the sale proceeds.

Fusion CX will issue new shares as well as sell existing shares.

It plans to use some of the new-share money to repay debt and invest in technology.

Grey market estimates suggest both shares could list above their IPO prices, but those estimates are not guaranteed outcomes.

Key facts

Combined planned issue size: ₹1,414 crore
HD Fire Protect IPO: ₹712.13 crore; entirely an offer for sale of 2.63 crore equity shares
HD Fire Protect price band: ₹258–₹271 per share
HD Fire Protect reported GMP: ₹75; estimated listing price around ₹346 at the upper price band
Fusion CX IPO: ₹702 crore, comprising up to ₹500 crore in fresh shares and up to ₹202 crore in an offer for sale
Fusion CX price band: ₹275–₹289 per share
Fusion CX reported GMP: ₹53; estimated listing price around ₹342 at the upper price band
Fusion CX planned uses of proceeds: ₹275 crore for debt repayment or prepayment and ₹61 crore for investment in step-down subsidiaries’ IT tools; remaining proceeds for acquisitions, strategic initiatives and general corporate purposes

livemint.com · 3 hrs ago