HD Fire Protect, a Mumbai-based manufacturer of fire protection equipment and systems, is set to launch its Initial Public Offering (IPO) on October 13, 2026. The public issue will be open for subscription until October 15, 2026, with anchor investor bidding commencing a day earlier, on October 12.
IPO Key Details and Financials
The company has established a price band for its equity shares at Rs 258 to Rs 271 per share. Investors will be able to bid for a minimum of 55 shares, with subsequent bids in multiples of 55. At the upper end of the price band, the IPO is valued at Rs 712.13 crore.
Offer for Sale Structure
This IPO is structured entirely as an Offer for Sale (OFS), comprising 2.62 crore equity shares. The shares are being sold by promoter shareholders Harish Narshi Dharamshi and Kusum Dharamshi. Consequently, HD Fire Protect will not receive any direct proceeds from the public issue, as the primary goal is to provide an exit opportunity for the selling shareholders and facilitate the company's listing on major stock exchanges.
Investor Reservations
- Qualified Institutional Buyers (QIBs): 50% of the total shares on offer.
- Non-Institutional Investors (NIIs): 15% of the total shares on offer.
- Retail Investors: 35% of the total shares on offer.
Company Background and Performance
HD Fire Protect operates two manufacturing facilities in Maharashtra, specializing in fire protection products and systems. Their offerings include water, foam, and gas-based suppression technologies. In fiscal year 2026, the company served 2,066 customers across India and international markets, with domestic sales accounting for 65% of its business.
Financially, the company reported a profit of Rs 23.8 crore on revenues of Rs 109 crore for the quarter ended June 2026. For the full financial year ended March 2026, profit increased by 6.4% year-on-year to Rs 116.8 crore, while revenue grew by 13% to Rs 489.3 crore compared to the previous year.
IPO Timeline and Listing
Ambit, Anand Rathi Advisors, and IIFL Capital Services are acting as the merchant bankers for the issue. Allotment of shares is anticipated to be finalized on October 16, with the company's shares expected to list on both the BSE and NSE on October 21, 2026. Post-listing, HD Fire Protect is projected to have a market capitalization of approximately Rs 4,748.73 crore.