{"id":53616,"date":"2026-10-07T12:11:20","date_gmt":"2026-10-07T06:41:20","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=53616"},"modified":"2026-10-07T12:11:20","modified_gmt":"2026-10-07T06:41:20","slug":"hd-fire-protect-ipo","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/hd-fire-protect-ipo\/","title":{"rendered":"HD Fire Protect IPO"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"53616\" class=\"elementor elementor-53616\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-83e3d67 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"83e3d67\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-39af1bc\" 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var(--neutral-900);\n    margin-bottom: 8px;\n    text-align: left;\n  }\n\n  .cmr-article-wrapper .cmr-verdict-card p {\n    text-align: justify;\n    text-justify: inter-word;\n  }\n\n  .cmr-article-wrapper .cta-wrap {\n    text-align: center;\n    margin: 28px 0 12px;\n  }\n\n  .cmr-article-wrapper .cta-btn {\n    display: inline-flex;\n    align-items: center;\n    justify-content: center;\n    background: var(--brand-primary);\n    color: #ffffff !important;\n    font-size: 15px;\n    font-weight: 700;\n    text-decoration: none !important;\n    padding: 13px 32px;\n    border-radius: var(--radius-full);\n    box-shadow: 0 4px 14px rgba(22, 163, 74, 0.25);\n    max-width: 100%;\n    word-break: break-word;\n  }\n\n  .cmr-article-wrapper hr.divider {\n    border: none;\n    border-top: 1px solid var(--neutral-200);\n    margin: 28px 0;\n  }\n\n  .cmr-article-wrapper .source-note {\n    font-size: 12px;\n    color: var(--neutral-500);\n    margin-top: 24px;\n    border-top: 1px solid var(--neutral-200);\n    padding-top: 12px;\n    text-align: center;\n  }\n\n  \/* Responsive Media Queries *\/\n  @media (max-width: 680px) {\n    .cmr-article-wrapper {\n      padding: 20px 14px;\n      margin: 12px auto 32px;\n      border-radius: var(--radius-md);\n    }\n\n    .cmr-article-wrapper h1.post-title {\n      font-size: 21px;\n    }\n\n    .cmr-article-wrapper h2.section-heading {\n      font-size: 17px;\n      margin: 24px 0 12px 0;\n    }\n\n    .cmr-article-wrapper .cmr-glance-grid {\n      grid-template-columns: repeat(2, minmax(0, 1fr));\n      gap: 8px;\n    }\n\n    .cmr-article-wrapper .cmr-glance-item {\n      padding: 10px;\n    }\n\n    .cmr-article-wrapper .cmr-g-value {\n      font-size: 14.5px;\n    }\n\n    .cmr-article-wrapper .kpi-grid {\n      grid-template-columns: repeat(2, minmax(0, 1fr));\n      gap: 8px;\n    }\n\n    .cmr-article-wrapper .kpi-card .kpi-value {\n      font-size: 16px;\n    }\n\n    .cmr-article-wrapper .objects-list li {\n      flex-direction: column;\n      align-items: flex-start;\n      gap: 6px;\n      padding: 10px 12px;\n    }\n\n    .cmr-article-wrapper .objects-list li .obj-label {\n      padding-right: 0;\n    }\n\n    .cmr-article-wrapper .cta-btn {\n      width: 100%;\n      padding: 13px 16px;\n      font-size: 14px;\n    }\n  }\n\n  @media (max-width: 380px) {\n    .cmr-article-wrapper .cmr-glance-grid {\n      grid-template-columns: 1fr;\n    }\n    .cmr-article-wrapper .kpi-grid {\n      grid-template-columns: 1fr;\n    }\n  }\n<\/style>\n\n<div class=\"cmr-article-wrapper\">\n\n\n\n  <!-- \u2500\u2500 IPO AT A GLANCE \u2500\u2500 -->\n  <div class=\"cmr-glance-title\">IPO Summary<\/div>\n  \n  <div class=\"cmr-glance-grid\">\n    <div class=\"cmr-glance-item cmr-highlight\">\n      <div class=\"cmr-g-label\">Price Band<\/div>\n      <div class=\"cmr-g-value\">\u20b9258 \u2013 \u20b9271<\/div>\n      <div class=\"cmr-g-sub\">FV: \u20b95 \/ share (Emp: \u20b925 off)<\/div>\n    <\/div>\n\n    <div class=\"cmr-glance-item cmr-highlight\">\n      <div class=\"cmr-g-label\">Issue Dates<\/div>\n      <div class=\"cmr-g-value\">Oct 13 \u2013 15<\/div>\n      <div class=\"cmr-g-sub\">Year: 2026<\/div>\n    <\/div>\n\n    <div class=\"cmr-glance-item\">\n      <div class=\"cmr-g-label\">Lot Size<\/div>\n      <div class=\"cmr-g-value\">55 Shares<\/div>\n      <div class=\"cmr-g-sub\">Min: \u20b914,905<\/div>\n    <\/div>\n\n    <div class=\"cmr-glance-item\">\n      <div class=\"cmr-g-label\">Total Issue Size<\/div>\n      <div class=\"cmr-g-value\">\u20b9712.31 Cr<\/div>\n      <div class=\"cmr-g-sub\">100% OFS<\/div>\n    <\/div>\n\n    <div class=\"cmr-glance-item\">\n      <div class=\"cmr-g-label\">Listing At<\/div>\n      <div class=\"cmr-g-value\">BSE &amp; NSE<\/div>\n      <div class=\"cmr-g-sub\">Tentative: Oct 21<\/div>\n    <\/div>\n\n    <div class=\"cmr-glance-item\">\n      <div class=\"cmr-g-label\">Lead Managers<\/div>\n      <div class=\"cmr-g-value\" style=\"font-size: 13px;\">Ambit \/ Anand Rathi \/ IIFL<\/div>\n      <div class=\"cmr-g-sub\">Reg: MUFG Intime<\/div>\n    <\/div>\n  <\/div>\n\n\n\n  <!-- \u2500\u2500 ABOUT THE COMPANY \u2500\u2500 -->\n  <h2 class=\"section-heading\">About the Business<\/h2>\n  <p>\n    Incorporated in <strong>April 1997<\/strong>, HD Fire Protect Limited is an Indian manufacturer and global supplier of industrial fire protection equipment and advanced suppression systems, delivering engineered water, foam, and gas-based firefighting solutions. The company develops a majority of its products in-house through proprietary engineering designs that meet rigorous national and international life-safety standards.\n  <\/p>\n  <p>\n    Its comprehensive portfolio spans eight distinct product categories: automatic sprinklers, alarm valves &amp; accessories, deluge valves and systems, foam equipment and suppression systems, high-capacity monitors and nozzles, water spray nozzles, custom-engineered packages, and clean-agent gas suppression systems. These solutions protect critical installations across demanding end-markets, including oil &amp; gas refineries, petrochemical complexes, thermal and renewable power plants, heavy engineering facilities, aerospace, pharmaceutical manufacturing, high-density data centres, hospitality, and healthcare infrastructure.\n  <\/p>\n\n  <ul class=\"cmr-feature-list\">\n    <li><strong>Extensive Global Reach:<\/strong> Backed by over three decades of operating history, exporting products to more than 90 countries since inception and supplying to 49 countries during the quarter ended June 30, 2026.<\/li>\n    <li><strong>Pioneering International Certifications:<\/strong> Holds 21 UL Listed and 87 FM Approved certifications as of September 2026; recognized as the first Indian manufacturer to receive UL Listing for deluge valves (1996) and FM approval for low-expansion foam systems.<\/li>\n    <li><strong>Established Manufacturing Footprint:<\/strong> Operates two integrated manufacturing facilities across Jalgaon and Thane, Maharashtra, covering approximately 8.50 acres, equipped with specialized R&amp;D units and a dedicated fire testing laboratory.<\/li>\n    <li><strong>Marquee Project Installations:<\/strong> Served 2,066 customers in FY26, with mission-critical equipment deployed at the Jamnagar refinery, the new Indian Parliament building, Samruddhi Mahamarg, Saudi Aramco\u2019s Ras Tanura Sea Island, and Oman\u2019s Integrated Power &amp; Water Plant.<\/li>\n    <li><strong>Robust Order Book &amp; Workforce:<\/strong> Holds a confirmed order book of \u20b9158.60 Cr (\u20b91,586.01 million) as of June 30, 2026, supported by 279 permanent employees and 253 contractual personnel.<\/li>\n  <\/ul>\n\n  <p>\n    The company&#8217;s promoters are <strong>Harish Narshi Dharamshi, Kusum Harish Dharamshi, Miheer Sadanand Ghotikar, Parika Miheer Ghotikar, and Anik Narendra Dharamshi<\/strong>.\n  <\/p>\n\n  <hr class=\"divider\" \/>\n\n  <!-- \u2500\u2500 FINANCIAL OVERVIEW \u2500\u2500 -->\n  <h2 class=\"section-heading\">Company Financials (Restated)<\/h2>\n  <p>\n    HD Fire Protect Ltd.&#8217;s revenue increased by 12% and profit after tax (PAT) rose by 6% between the financial year ending with March 31, 2026 and March 31, 2025. For the quarter ended June 30, 2026, the company recorded total income of \u20b9114.07 Cr and a PAT of \u20b923.87 Cr.\n  <\/p>\n\n  <div class=\"table-container\">\n    <table class=\"fin-table\">\n      <thead>\n        <tr>\n          <th>Period Ended<\/th>\n          <th>30 Jun 2026<\/th>\n          <th>31 Mar 2026<\/th>\n          <th>31 Mar 2025<\/th>\n          <th>31 Mar 2024<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr>\n          <td>Assets<\/td>\n          <td>477.60<\/td>\n          <td>432.03<\/td>\n          <td>450.08<\/td>\n          <td>392.63<\/td>\n        <\/tr>\n        <tr>\n          <td>Total Income<\/td>\n          <td>114.07<\/td>\n          <td>505.12<\/td>\n          <td>450.68<\/td>\n          <td>392.02<\/td>\n        <\/tr>\n        <tr>\n          <td>Profit After Tax<\/td>\n          <td>23.87<\/td>\n          <td>116.79<\/td>\n          <td>109.72<\/td>\n          <td>87.92<\/td>\n        <\/tr>\n        <tr>\n          <td>Operating EBITDA<\/td>\n          <td>29.73<\/td>\n          <td>150.46<\/td>\n          <td>138.01<\/td>\n          <td>106.63<\/td>\n        <\/tr>\n        <tr>\n          <td>NET Worth<\/td>\n          <td>\u2014<\/td>\n          <td>375.93<\/td>\n          <td>396.01<\/td>\n          <td>342.19<\/td>\n        <\/tr>\n        <tr>\n          <td>Reserves &amp; Surplus<\/td>\n          <td>309.93<\/td>\n          <td>286.07<\/td>\n          <td>302.59<\/td>\n          <td>332.19<\/td>\n        <\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n  <p class=\"fin-note\">Amount in \u20b9 Crore<\/p>\n\n  <!-- \u2500\u2500 KPIS \u2500\u2500 -->\n  <h2 class=\"section-heading\">Key Performance Indicator (KPI)<\/h2>\n  <div class=\"kpi-grid\">\n    <div class=\"kpi-card\">\n      <div class=\"kpi-value\">30.17%<\/div>\n      <div class=\"kpi-label\">ROE (FY26)<\/div>\n    <\/div>\n    <div class=\"kpi-card\">\n      <div class=\"kpi-value\">40.33%<\/div>\n      <div class=\"kpi-label\">ROCE (FY26)<\/div>\n    <\/div>\n    <div class=\"kpi-card\">\n      <div class=\"kpi-value\">30.75%<\/div>\n      <div class=\"kpi-label\">EBITDA Margin (FY26)<\/div>\n    <\/div>\n    <div class=\"kpi-card\">\n      <div class=\"kpi-value\">23.12%<\/div>\n      <div class=\"kpi-label\">PAT Margin (FY26)<\/div>\n    <\/div>\n    <div class=\"kpi-card\">\n      <div class=\"kpi-value\">12.63<\/div>\n      <div class=\"kpi-label\">Price to Book (P\/B)<\/div>\n    <\/div>\n    <div class=\"kpi-card\">\n      <div class=\"kpi-value\">\u20b921.45<\/div>\n      <div class=\"kpi-label\">Net Asset Value (NAV)<\/div>\n    <\/div>\n  <\/div>\n\n  <hr class=\"divider\" \/>\n\n  <!-- \u2500\u2500 IPO VALUATION \u2500\u2500 -->\n  <h2 class=\"section-heading\">IPO Valuation<\/h2>\n  <div class=\"table-container\">\n    <table class=\"fin-table\">\n      <thead>\n        <tr>\n          <th>Valuation Metric<\/th>\n          <th>Pre IPO<\/th>\n          <th>Post IPO<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr>\n          <td>EPS (\u20b9)<\/td>\n          <td>6.66<\/td>\n          <td>5.45<\/td>\n        <\/tr>\n        <tr>\n          <td>P\/E ratio (x)<\/td>\n          <td>40.69<\/td>\n          <td>49.72<\/td>\n        <\/tr>\n        <tr>\n          <td>Market Cap at Offer Price<\/td>\n          <td>\u20b94,748.73 Cr<\/td>\n          <td>\u20b94,748.73 Cr<\/td>\n        <\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n  <p class=\"fin-note\">Calculated on restated earnings at the upper price band of \u20b9271 (Post-IPO annualized based on Q1 FY27)<\/p>\n\n  <hr class=\"divider\" \/>\n\n  <!-- \u2500\u2500 LOT SIZE TABLE \u2500\u2500 -->\n  <h2 class=\"section-heading\">IPO Lot Size<\/h2>\n  <p>Investors can bid for a minimum of 55 shares and in multiples thereof:<\/p>\n  <div class=\"table-container\">\n    <table class=\"res-table\">\n      <thead>\n        <tr>\n          <th>Application<\/th>\n          <th>Lots<\/th>\n          <th>Shares<\/th>\n          <th>Amount<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr>\n          <td>Retail (Min)<\/td>\n          <td>1<\/td>\n          <td>55<\/td>\n          <td>\u20b914,905<\/td>\n        <\/tr>\n        <tr>\n          <td>Retail (Max)<\/td>\n          <td>13<\/td>\n          <td>715<\/td>\n          <td>\u20b91,93,765<\/td>\n        <\/tr>\n        <tr>\n          <td>S-HNI (Min)<\/td>\n          <td>14<\/td>\n          <td>770<\/td>\n          <td>\u20b92,08,670<\/td>\n        <\/tr>\n        <tr>\n          <td>S-HNI (Max)<\/td>\n          <td>67<\/td>\n          <td>3,685<\/td>\n          <td>\u20b99,98,635<\/td>\n        <\/tr>\n        <tr>\n          <td>B-HNI (Min)<\/td>\n          <td>68<\/td>\n          <td>3,740<\/td>\n          <td>\u20b910,13,540<\/td>\n        <\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n\n  <hr class=\"divider\" \/>\n\n  <!-- \u2500\u2500 ISSUE RESERVATION \u2500\u2500 -->\n  <h2 class=\"section-heading\">Issue Reservation<\/h2>\n  <div class=\"table-container\">\n    <table class=\"res-table\">\n      <thead>\n        <tr>\n          <th>Investor Category<\/th>\n          <th>Allocation Share<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr><td>QIB Shares Offered<\/td><td>Not more than 50.00% of the Net Offer<\/td><\/tr>\n        <tr><td>Retail Shares Offered<\/td><td>Not less than 35.00% of the Net Offer<\/td><\/tr>\n        <tr><td>NII (HNI) Shares Offered<\/td><td>Not less than 15.00% of the Net Offer<\/td><\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n\n  <hr class=\"divider\" \/>\n\n  <!-- \u2500\u2500 SHAREHOLDING STRUCTURE \u2500\u2500 -->\n  <h2 class=\"section-heading\">Shareholding Structure<\/h2>\n  <div class=\"table-container\">\n    <table class=\"res-table\">\n      <thead>\n        <tr>\n          <th>Category<\/th>\n          <th>Pre IPO<\/th>\n          <th>Post IPO<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr>\n          <td>Promoter and Promoter Group<\/td>\n          <td>100.00%<\/td>\n          <td>85.00%<\/td>\n        <\/tr>\n        <tr>\n          <td>Public<\/td>\n          <td>0.00%<\/td>\n          <td>15.00%<\/td>\n        <\/tr>\n        <tr>\n          <td><strong>Total<\/strong><\/td>\n          <td><strong>100%<\/strong><\/td>\n          <td><strong>100%<\/strong><\/td>\n        <\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n\n  <hr class=\"divider\" \/>\n\n  <!-- \u2500\u2500 OFS BREAKDOWN \u2500\u2500 -->\n  <h2 class=\"section-heading\">Offer For Sale \u2013 Selling Shareholders<\/h2>\n  <div class=\"table-container\">\n    <table class=\"fin-table\">\n      <thead>\n        <tr>\n          <th>Shareholder<\/th>\n          <th>Category<\/th>\n          <th>Shares Offered<\/th>\n          <th>Amount (\u20b9 Cr)<\/th>\n        <\/tr>\n      <\/thead>\n      <tbody>\n        <tr>\n          <td>Harish Narshi Dharamshi<\/td>\n          <td>Promoter<\/td>\n          <td>89,83,700<\/td>\n          <td>243.46<\/td>\n        <\/tr>\n        <tr>\n          <td>Kusum Harish Dharamshi<\/td>\n          <td>Promoter<\/td>\n          <td>1,73,00,800<\/td>\n          <td>468.85<\/td>\n        <\/tr>\n        <tr>\n          <td><strong>Total OFS<\/strong><\/td>\n          <td><\/td>\n          <td><strong>2,62,84,500<\/strong><\/td>\n          <td><strong>712.31<\/strong><\/td>\n        <\/tr>\n      <\/tbody>\n    <\/table>\n  <\/div>\n  <p class=\"fin-note\">Total OFS component: 2,62,84,500 equity shares aggregating \u20b9712.31 Cr<\/p>\n\n  <hr class=\"divider\" \/>\n\n  <!-- \u2500\u2500 OBJECTS OF ISSUE \u2500\u2500 -->\n  <h2 class=\"section-heading\">IPO Objects of the Issue<\/h2>\n  <p>\n    The HD Fire Protect Ltd. IPO is a <strong>100% Offer for Sale (OFS)<\/strong>. The company will not receive any proceeds from the offer, and the entire capital of \u20b9712.31 Cr will be remitted to the promoter selling shareholders after deducting offer expenses.\n  <\/p>\n\n  <!-- \u2500\u2500 VERDICT CARD \u2500\u2500 -->\n  <div class=\"cmr-verdict-card\">\n    <div class=\"cmr-verdict-title\">The Final Verdict<\/div>\n    <p>\n      HD Fire Protect Limited operates in a high-entry-barrier, certification-intensive engineering sector where product reliability is critical to life safety and asset protection. Holding 21 UL Listings and 87 FM Approvals, the company has built significant brand equity across international industrial complexes, exporting to more than 90 countries and serving demanding clients such as Saudi Aramco, Jamnagar Refinery, and mission-critical government infrastructure like the new Indian Parliament building.\n    <\/p>\n    <p style=\"margin-top: 10px;\">\n      Operationally and financially, HD Fire Protect demonstrates strong performance. In FY26, the company generated \u20b9505.12 Cr in total income with a robust Operating EBITDA of \u20b9150.46 Cr (30.75% margin) and a PAT of \u20b9116.79 Cr (23.12% margin). Return metrics are also solid, reflected in an FY26 ROE of 30.17% and an ROCE of 40.33%. However, investors must consider two key factors: first, the issue is 100% secondary Offer for Sale (\u20b9712.31 Cr), meaning no capital will be infused into the company for growth capex or R&amp;D expansion; second, at the upper price band of \u20b9271, the stock commands a post-issue P\/E of 49.72x and a Price-to-Book multiple of 12.63x, reflecting a rich premium. Investors with a long-term horizon who value high operating margins, strong return ratios, and global industrial tailwinds may evaluate this issue with moderate expectations.\n    <\/p>\n  <\/div>\n\n  <!-- \u2500\u2500 CTA BUTTON \u2500\u2500 -->\n  <div class=\"cta-wrap\">\n    <a class=\"cta-btn\" href=\"https:\/\/novo.flattrade.in\/\" target=\"_blank\" rel=\"noopener\">\n      Apply for HD Fire Protect IPO on Flattrade &rarr;\n    <\/a>\n  <\/div>\n\n  <div class=\"source-note\">Source: Chittorgarh IPO Filings<\/div>\n\n<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5b389c7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5b389c7\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container 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Your first step costs nothing.<\/p>\n    <span class=\"cta-light-btn-element\">Open Free Account<\/span>\n  <\/div>\n<\/a>\n\n<style>\n\/* ==========================================================================\n   FLATTRADE INDEPENDENT CTA ELEMENT (PRESERVED ORIGINAL LIGHT DESIGN)\n   ========================================================================== *\/\n\n@import url('https:\/\/fonts.googleapis.com\/css2?family=Inter:wght@400;500;600;700&display=swap');\n\n.ft-inline-light-cta {\n  width: 100%;\n  max-width: 680px;\n  margin: 1.5rem auto;\n  display: flex;\n  flex-direction: column;\n  align-items: center;\n  justify-content: center;\n  text-decoration: none;\n  position: relative;\n  overflow: hidden;\n  text-align: center;\n  border-radius: 12px;\n  \n  \/* Original Light Layout Properties *\/\n  background: #ffffff;\n  color: #1a2a40;\n  padding: clamp(1.75rem, 5vw, 2.75rem) clamp(1rem, 4vw, 2.25rem);\n  box-shadow: 0 8px 24px rgba(10, 22, 40, 0.06);\n  border: 1px solid #e2e8f0;\n  font-family: 'Inter', sans-serif;\n  transition: transform 0.2s ease, box-shadow 0.2s ease;\n}\n\n\/* Original radial light brand glow element *\/\n.ft-inline-light-cta::before {\n  content: '';\n  position: absolute;\n  top: -40%;\n  right: -20%;\n  width: clamp(160px, 35vw, 280px);\n  height: clamp(160px, 35vw, 280px);\n  background: radial-gradient(circle, rgba(0, 102, 204, 0.05) 0%, rgba(0,0,0,0) 70%);\n  pointer-events: none;\n}\n\n.cta-light-content {\n  display: flex;\n  flex-direction: column;\n  align-items: center;\n  justify-content: center;\n  width: 100%;\n  position: relative;\n  z-index: 2;\n}\n\n\/* Original Title Light Styling *\/\n.ft-inline-light-cta h2 {\n  color: #0a1628;\n  font-size: clamp(19px, 3.8vw, 24px);\n  font-weight: 700;\n  margin-bottom: 10px;\n  line-height: 1.3;\n  letter-spacing: -0.02em;\n  width: 100%;\n}\n\n\/* Original Paragraph Light Styling *\/\n.ft-inline-light-cta p { \n  color: #4a5568; \n  font-size: clamp(13.5px, 2.5vw, 14.5px); \n  margin-bottom: clamp(18px, 4vw, 24px); \n  line-height: 1.55;\n  font-weight: 400;\n  width: 100%;\n  max-width: 520px;\n}\n\n\/* Original Bold Highlight Box Badge Light Styling *\/\n.ft-inline-light-cta p strong {\n  color: #0066cc;\n  font-weight: 600;\n  background: rgba(0, 102, 204, 0.08);\n  padding: 2px 6px;\n  border-radius: 4px;\n  display: inline-block;\n}\n\n\/* Original Flattrade Vivid Electric Blue Button Mapping *\/\n.cta-light-btn-element {\n  display: inline-block;\n  background: #0066cc;\n  color: #ffffff;\n  font-weight: 600;\n  font-size: clamp(13.5px, 2.5vw, 14.5px);\n  padding: 12px clamp(20px, 5vw, 36px);\n  border-radius: 6px;\n  box-shadow: 0 4px 12px rgba(0, 102, 204, 0.25);\n  white-space: nowrap;\n  width: auto;\n  transition: background 0.2s ease, transform 0.1s ease, box-shadow 0.2s ease;\n}\n\n\/* Element wrapper hover actions routing down to the synthetic button element *\/\n.ft-inline-light-cta:hover {\n  transform: translateY(-2px);\n  box-shadow: 0 12px 32px rgba(10, 22, 40, 0.1);\n}\n\n.ft-inline-light-cta:hover .cta-light-btn-element {\n  background: #0052a3; \n  box-shadow: 0 6px 18px rgba(0, 102, 204, 0.35);\n}\n\n.ft-inline-light-cta:active {\n  transform: scale(0.99);\n}\n\n.ft-inline-light-cta:active .cta-light-btn-element {\n  transform: scale(0.98);\n  box-shadow: 0 2px 6px rgba(0, 102, 204, 0.15);\n}\n\n\/* Media query adaptation for viewports under 480px width *\/\n@media (max-width: 480px) {\n  .cta-light-btn-element {\n    width: 100%;\n    text-align: center;\n    padding: 13px 16px; \n  }\n}\n<\/style>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"IPO Summary Price Band \u20b9258 \u2013 \u20b9271 FV: \u20b95 \/ share (Emp: \u20b925 off) Issue Dates Oct 13&hellip;","protected":false},"author":10,"featured_media":53620,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-53616","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ipos","cs-entry","cs-video-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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