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HD Fire Protect and LoanFront owner Vaibhav Vyapaar IPOs open Tuesday, Ravita SME on Wednesday — bid sizes, UPI cut-offs and anchor books
India’s primary market flips from anchor day to public books tomorrow. A mainboard promoter sale and one NSE Emerge (SME) fresh issue start at 10 a.m. IST on Tuesday; a second SME issue, Ravita, opens Wednesday. Here is the exchange-confirmed bid checklist — lot sizes, category share pools, UPI mandate cut-off — and what still depends on tonight’s or tomorrow morning’s anchor allocation notices.
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Public bidding dates (NSE issue pages; Ravita corrected 13 Oct):
| HD Fire Protect (HDFIRE, mainboard) | Ravita Engineering (RAVITA, NSE Emerge) | Vaibhav Vyapaar (LOANFRONT, NSE Emerge) | |
|---|---|---|---|
| Public bidding | Tue 13 – Thu 15 Oct, 10 a.m.–5 p.m. IST | Wed 14 – Fri 16 Oct | Tue 13 – Thu 15 Oct (closes 4 p.m. on 15 Oct) |
| Price band | ₹258–271 (face ₹5) | ₹105–112 (face ₹5) | ₹51–54 (face ₹5) |
| What is sold | OFS only: up to 2,62,84,500 promoter shares | Fresh: 1,03,62,000 new shares | Fresh: up to 77,96,000 new shares |
| Lot / minimum | 55 shares = ₹14,190–14,905 | Lot 1,200; individuals need 2 lots (2,400) = ₹2,52,000–2,68,800 | Lot 2,000; individuals need 2 lots (4,000) = ₹2,04,000–2,16,000 |
| UPI mandate cut-off | Thu 15 Oct, 5 p.m. | Fri 16 Oct, 5 p.m. | Thu 15 Oct, 5 p.m. |
| Registrar | MUFG Intime | MUFG Intime | KFin Technologies |
| BRLMs | Ambit, Anand Rathi Advisors, IIFL Capital | Vivro Financial | Getfive Advisors |
Monday 12 Oct was the anchor investor bidding day for HD Fire Protect and Vaibhav Vyapaar; check Ravita’s exchange filings for its anchor notice ahead of its Wednesday open. Mid-afternoon on Monday, NSE’s live IPO bid books still showed zero public bids (books open Tuesday) and no allocation table on the issue pages. Watch company/exchange filings for the anchor lists before the 10 a.m. open.
Also this week: Fusion CX (mainboard, ₹275–289, lot 51) takes anchors Tuesday 13 Oct and opens to the public Wed 14 – Fri 16 Oct (morning calendar).
Takeaway: Two books open Tuesday (HD Fire Protect, mainboard; Vaibhav Vyapaar, SME) and Ravita (SME) follows Wednesday; the two SME issues need at least ₹2 lakh per individual application. No GMP, no price call. Not investment advice.
Analysis
What NSE has locked in
The three symbols on NSE’s forthcoming IPO list as of Monday afternoon were HDFIRE (EQ), RAVITA (SME) and LOANFRONT (SME). Issue-detail pages confirm the bands, share counts, lot sizes, bankers, registrars and UPI mandate cut-offs: 15 Oct, 5 p.m. for HDFIRE and LOANFRONT, 16 Oct, 5 p.m. for RAVITA. On the last bidding day, QIB and non-institutional bidding for the SME issues closes at 4 p.m.; HD Fire’s page flags the same 4 p.m. QIB/NIB close on 15 Oct.
HD Fire’s employee reservation is up to ₹1.75 crore, with a ₹25 per-share discount for eligible employees. Retail on the mainboard issue can apply for at most ₹2 lakh of stock; employees up to ₹5 lakh after the discount.
Category share pools (pre-anchor parameters)
NSE’s pre-anchor security-parameter sheets (calculated at the top of each band) set the following reserved pools before any anchor trim:
HD Fire Protect (at ₹271):
| Category | Shares reserved |
|---|---|
| QIB | up to 1,31,06,680 |
| NIB (total) | not less than 39,32,005 |
| Retail | not less than 91,74,677 |
| Employee | up to 71,138 |
| Total offer | 2,62,84,500 |
Up to 60% of the QIB portion can go to anchors on a discretionary basis (RHP). That allocation, once filed, reduces the residual QIB book that opens with everyone else on Tuesday.
Ravita Engineering: QIB up to 49,17,600; NIB not less than 19,98,000 (market-maker 5,22,000 shares are counted inside NIB); individual investors not less than 34,46,400. Total fresh issue 1,03,62,000. Individual min application: 2,400 shares (cut-off not allowed on any SME category).
Vaibhav Vyapaar (LoanFront): QIB up to 36,94,000; NIB not less than 15,06,000 (market-maker 3,90,000 inside NIB); individuals not less than 25,96,000. Total fresh issue 77,96,000. Individual min application: 4,000 shares.
Company background, FY26 numbers and valuation arithmetic for HD Fire and Ravita are in Friday’s explainer; LoanFront’s RHP snapshot is in this morning’s calendar.
Why Monday still matters
Anchor day is when large institutions bid one working day before the public book. Issuers and BRLMs typically disclose who got how many shares — and at what price within the band — in an exchange filing before or just as the public offer opens. As of mid-afternoon Monday, those filings had not yet appeared on the NSE IPO detail pages we checked; the public demand tables were still empty, which is normal until Tuesday’s session starts.
Until the anchor notice lands, treat the QIB pools above as pre-anchor ceilings. After anchors are filled, the residual QIB portion is what mutual funds and other QIBs bid for during each book’s window.
What to watch
- Anchor allocation filings for HDFIRE, RAVITA and LOANFRONT (Monday evening / Tuesday morning)
- Day-1 subscription prints on NSE/BSE after 10 a.m. Tuesday
- Fusion CX anchor book on Tuesday, public open Wednesday
- Whether last week’s soft SME listings find buyers before fresh supply hits the market
Sources
- NSE — all upcoming issues (IPO): HDFIRE and LOANFRONT 13–15 Oct 2026; RAVITA 14–16 Oct 2026 (rechecked 13 Oct). https://www.nseindia.com/api/all-upcoming-issues?category=ipo
- NSE — IPO issue detail: HDFIRE (EQ), RAVITA (SME), LOANFRONT (SME) — price range, issue size, lot, BRLMs, registrar, market timings, UPI cut-offs (retrieved 12 Oct 2026; RAVITA rechecked 13 Oct). https://www.nseindia.com/api/ipo-detail?symbol=HDFIRE&series=EQ · https://www.nseindia.com/api/ipo-detail?symbol=RAVITA&series=SME · https://www.nseindia.com/api/ipo-detail?symbol=LOANFRONT&series=SME
- NSE — Pre-anchor security parameters PDFs: PREANCHOR_PARAMETERS_HDFIRE / RAVITA / LOANFRONT (category share reserves at top of band). https://nsearchives.nseindia.com/content/ipo/PREANCHOR_PARAMETERS_HDFIRE.zip · …_RAVITA.zip · …_LOANFRONT.zip
- Company RHPs / prior CC notes: HD Fire Protect RHP (anchor date Mon 12 Oct; public 13–15 Oct); Vaibhav Vyapaar RHP and Ravita’s NSE issue page as summarised in linked Capital Chronicle stories (primary arithmetic only).
Correction, 13 Oct 2026: An earlier version said Ravita Engineering’s IPO bids 13–15 Oct and that three IPOs open Tuesday. Ravita’s dates were corrected to 14–16 Oct per NSE.
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Not personalized financial advice. Corrections: corrections@capitalchronicle.news