HD Fire Protect is coming out with its initial public offering worth ₹712.31 cr., which is structured as a main-board book-built issue. The whole offer comprises 2.63 cr. shares being sold through an Offer for Sale (OFS) route. Investors watching to participate can bid between 13/10/2026, & October 15, 2026. Share basis of allotment will likely be finalized by 16/10/2026, and the stock is scheduled to make its trading debut on both the BSE & NSE on 21/10/2026.
The company has set the share price range at ₹258 – ₹271 per share. For retail buyers, the minimum-bid size is one lot of 55 shares, which comes out to an upfront investment of ₹14,905 at the top end of the price band. Managing the transaction as the sole lead manager is Ambit Private Limited, while MUFG Intime India Private Limited is handling the share registration and processing tasks for this issue.
HD Fire Protect IPO Allotment Status
| Company Name | Allotment Date | Listing Date | Registrar (Check Link) |
|---|---|---|---|
| HD Fire Protect | Fri, Oct 16, 2026 | Wed, Oct 21, 2026 | https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
HD Fire Protect IPO Overview
| Details | Descriptions |
|---|---|
| IPO Date | 13 to 15 Oct, 2026 |
| Listing Date | Wed, Oct 21, 2026 |
| Face Value | ₹5 per share |
| Price Band | ₹258 to ₹271 |
| Lot Size | 55 Shares |
| Sale Type | OFS only |
| Total Issue Size | 2,62,84,500 shares (agg. up to ₹712 Cr) |
| Offer for Sale | 2,62,84,500 shares of ₹5 (agg. up to ₹712 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 17,52,30,000 shares |
| Share Holding Post Issue | 17,52,30,000 shares |
HD Fire Protect IPO Schedule
| Details | Description |
|---|---|
| IPO Open Date | Tue, Oct 13, 2026 |
| IPO Close Date | Thu, Oct 15, 2026 |
| Tentative Allotment | Fri, Oct 16, 2026 |
| Initiation of Refunds | Mon, Oct 19, 2026 |
| Credit of Shares to Demat | Mon, Oct 19, 2026 |
| Tentative Listing Date | Wed, Oct 21, 2026 |
HD Fire Protect Lot Size Details
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 55 | ₹14,905 |
| Retail (Max) | 13 | 715 | ₹1,93,765 |
| S-HNI (Min) | 14 | 770 | ₹2,08,670 |
| S-HNI (Max) | 67 | 3685 | ₹9,98,635 |
| B-HNI (Min) | 68 | 3740 | ₹10,13,540 |
Issue Reservation
| Investor Category | Shares |
|---|---|
| QIB | Not more than 50 % of the Net Issue |
| NII | Not less than 15.00% of the Net Issue |
| Retail | Not less than 35.00% of the Net Issue |
Investor Category Reservations
| Category | Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹2 Lakhs | Yes |
| Employee + RII/NII | Up to ₹2Lakhs (EMP) + RII/NII limits | Yes (EMP/RII) |
HD Fire Protect IPO GMP Trend
| GMP Date | IPO Price | GMP | Est. Listing Price | Est. Profit* |
|---|---|---|---|---|
| 12-Oct 10:37 | ₹271 | ₹86 (31.73%) ─ | ₹357 | ₹4,730 |
| 11-Oct 21:37 | ₹271 | ₹86 (31.73%) ▲ | ₹357 | ₹4,730 |
| 10-Oct 23:37 | ₹271 | ₹75 (27.68%) ▲ | ₹346 | ₹4,125 |
| 9-Oct 23:37 | ₹271 | ₹74 (27.31%) ▲ | ₹345 | ₹4,070 |
| 8-Oct 23:37 | ₹271 | ₹63 (23.25%) ▼ | ₹334 | ₹3,465 |
| 7-Oct 23:37 | ₹271 | ₹80 (29.52%) ─ | ₹351 | ₹4,400 |
Overview of HD Fire Protect
Founded in April 1997, HD Fire Protect Ltd. is a premier Indian manufacturer & exporter specializing in complete fire protection and suppression technology. The company develops reliable water, foam, and gas-based systems designed to safeguard lives and infrastructure across critical-global industries.
Industrial Equipment HD Fire Protect has an extensive product portfolio of automatic sprinklers, deluge valves, foam suppression, monitors, nozzles and custom-engineered solutions for high risk industrial, commercial & residential applications. All of their equipment is used to protect vital assets across the oil & refining, power generation, aerospace, data centre, pharmaceuticals, healthcare and hospitality industries.
Engineering Excellence & Global Reach
Representing close to three decades of expertise, HD Fire Protect has set up and obtained certifications in over 90 countries and exported to 49 countries in Q1 of FY27, building innovative product range with its own product R&D. Prioritizing international standards of safety, security and quality.
- Pioneering Certifications: It holds the distinction of being the first Indian manufacturer to earn a UL Listing for deluge valves (1996) and FM Approval for low-expansion foam systems. As of September 2026, its certification catalog boasts 21 UL Listings and 87 FM Approvals.
- Manufacturing Infrastructure: The Company operates two state of the art manufacturing plants in Jalgaon and Thane (Maharashtra) covering roughly 8.50 acres, fully equipped with advanced testing labs and research facilities.
Proven Track Record & Financial Performance
HD Fire Protect HD Fire Protect provides products to more than 2,066 customers around the world in the financial year 2026. The Group’s fire safety systems are installed in high-profile infrastructure projects such as:
- The New Indian Parliament Building
- Samruddhi Mahamarg Expressway
- Reliance’s Jamnagar Refinery
- Saudi Aramco’s Ras Tanura Sea Island Site
- Oman’s Integrated Power & Water Plant Project
Financial Growth at a Glance
The company’s financial trajectory reflects steady market expansion and operational performance:
- Revenue Growth: Operating revenue grew from ₹372.95 crore (₹3,729.53 million) in FY24 to ₹489.28 crore (₹4,892.81 million) in FY26, achieving a compound annual growth rate (CAGR) of 14.54%.
- Order Book: Stood at ₹158.60 crore (₹1,586.01 million) as of June 30, 2026.
- Workforce: Backed by a dedicated team of 279 permanent professionals and 253 contractual employees.
Key Competitive Strengths
- Robust Certification Portfolio: Extensive collection of UL Listings and FM Approvals creating high barriers to entry.
- End-to-End Product Range: Complete end-to-end portfolio of water, foam, gas, and custom suppression solutions.
- In-House R&D & Manufacturing: Core engineering team facilitating custom build, code compliance solutions.
- Diverse Global Client Base: Long-standing partnerships with key enterprise clients across key international markets.
- Consistent Financial Growth: Strong balance sheet supported by steady revenue expansion and healthy order visibility.
- Leadership Expertise: Seasoned management team with decades of hands-on experience in fire engineering.
Company Financials
HD Fire Protect Financial Information (Restated Standalone)
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 477.60 | 432.03 | 450.08 | 392.63 |
| Total Income | 114.07 | 505.12 | 450.68 | 392.02 |
| Profit After Tax | 23.87 | 116.79 | 109.72 | 87.92 |
| EBITDA | 29.73 | 150.46 | 138.01 | 106.63 |
| NET Worth | 375.93 | 396.01 | 342.19 | |
| Reserves and Surplus | 309.93 | 286.07 | 302.59 | 332.19 |
Key Performance Indicator (KPI)
The market cap. of HD Fire Protect IPO is for Pre IPO ₹4,748.73 Cr., & for Post IPO ₹4,748.73 Crores.
KPI as of Mar 31, 2026
| KPI | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 6.13% | 30.17% |
| ROCE | 8.36% | 40.33% |
| Debt/Equity | – | – |
| RoNW | 5.97% | 31.07% |
| PAT Margin | 20.92% | 23.12% |
| EBITDA Margin | 27.26% | 30.75% |
| NAV | 22.82 | 21.45 |
| Price to Book Value | – | 12.63 |
IPO Valuation & Shareholding Structure
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 6.66 | 5.45 |
| P/E (x) | 40.69 | 49.72 |
| Company Promoters: | Harish Narshi Dharamshi, Kusum Harish Dharamshi, Miheer Sadanand Ghotikar, Parika Miheer Ghotikar and Anik Narendra Dharamshi. | |
| Promoter and Promoter Group | 100% | 85% |
| Public | -% | 15% |
| Total | 100% | 100% |
Offer For Sale – Selling Shareholders
| Name | Category | No. of Shares Offered | Amount |
|---|---|---|---|
| Harish Narshi Dharamshi | Promoter | 89,83,700 | ₹243.46 cr. |
| Kusum Harish Dharamshi | Promoter | 1,73,00,800 | ₹468.85 cr. |
| Total | 2,62,84,500 | ₹712.31 cr. |
HD Fire Protect IPO Objectives
The HD Fire Protect Ltd. IPO is a 100% Offer for Sale (OFS), so the company will not receive any funding and the entire IPO proceeds will go to the selling shareholders.
HD Fire Protect IPO Contact Details
- HD Fire Protect Ltd.
- O-611, 6th Floor, Runwal R Square
- Opp. Veena Nagar, L. B. S. Marg, Mulund West
- Mumbai, Maharashtra, 400080
- +91 22 35287000
- investors@hdfire.com
- Website: https://www.hdfire.com/
HD Fire Protect IPO Registrar
MUFG Intime India Pvt.Ltd.
| Details | Descriptions |
|---|---|
| Phone: | 022-49186000 |
| Email: | hdfire.ipo@in.mpms.mufg.com |
| Website: | https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
HD Fire Protect IPO FAQs
When HD Fire Protect IPO become available?
The IPO will open on Tue, Oct 13, 2026.
What is the minimum lot size for the HD Fire Protect IPO?
The minimum lot size is 55 shares.
When will the shares for the HD Fire Protect IPO be allotted?
The allotment is expected to be finalized on Fri, Oct 16, 2026
What is the expected listing date for the HD Fire Protect IPO?
The tentative listing date is Wed, Oct 21, 2026.
How can I apply for the HD Fire Protect IPO?
You can apply online through your bank or a broker using either the UPI or ASBA payment methods.
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