Four initial public offerings will open for subscription in the week beginning October 12, including two mainboard issues with a combined size of Rs 1,414 crore. HD Fire Protect's Rs 712-crore offering opens on October 13, while Fusion CX's Rs 702-crore issue begins on October 14.
On the SME platform, Vaibhav Vyapaar and Ravita Engineering Services will open their IPOs on October 13, with both closing on October 15, 2026. Here is a list of IPOs that will go up fpr subscription.
Mainboard IPO
HD Fire Protect Ltd.
Fire protection equipment and systems manufacturer HD Fire Protect Ltd. will open for public subscription on October 13 and close on October 15. The bidding for anchor investors will take place on October 12, according to a company's public announcement. The company has fixed the price band at Rs 258-271 per equity share for its upcoming Rs 712-crore IPO.
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At the upper end of the price band, HD Fire Protect will command a valuation of about Rs 4,750 crore. The IPO comprises an Offer for Sale (OFS) of 2.63 crore equity shares by promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi. Since the issue is entirely an OFS, HD Fire Protect will not receive any proceeds from the public issue. The proceeds will go to the selling shareholders. At the upper end of the price band, the issue size works out to Rs 712.13 crore, while at the lower end it is about Rs 678 crore.
HD Fire Protect is expected to make its stock-market debut on October 21 on the BSE and NSE. Ambit, Anand Rathi Advisors and IIFL Capital Services are the book-running lead managers for the issue.
Fusion CX Ltd.
AI-powered customer experience solutions provider Fusion CX Ltd. will start on October 14 and close on October 16, while bidding by anchor investors is scheduled for October 13, according to a public announcement. The company has fixed the price band of Rs 275-289 per share for its Rs 702 crore IPO. At the upper end of the price band, Fusion CX is expected to command a post-issue market capitalisation of over Rs 4,170 crore.
The IPO comprises a fresh issue of equity shares worth up to Rs 500 crore and an Offer For Sale (OFS) of shares aggregating up to Rs 202 crore by existing shareholders, P N S Business Pvt Ltd and Rasish Consultants Pvt Ltd.
The company had initially planned to raise up to Rs 1,000 crore through its IPO, according to its draft red herring prospectus filed with Sebi in May 2025. However, the proposed issue size has since been reduced to Rs 702 crore.
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SME
1. Vaibhav Vyapaar Limited's forthcoming SME initial public offering will open for subscription on October 13, 2026, and close on October 15, 2026. The company has set a price band of Rs 51 to Rs 54 per share. The issue comprises 77,96,000 shares.
2. Ravita Engineering Services Limited's forthcoming SME initial public offering will open for subscription on October 13, 2026, and close on October 15, 2026. It has set a price band of Rs 105 to Rs 112 per share. The issue comprises 1,03,62,000 shares.
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