HD Fire Protect IPO opens on October 13; check price band, issue size & key details

Mumbai-based HD Fire Protect, which manufactures fire protection equipment and systems, has fixed the price band for its initial public offering at Rs 258-Rs 271 per equity share. The public issue will open for subscription on October 13 and close on October 15, while anchor investor bidding will open on October 12.

Investors can bid for a minimum of 55 shares and in multiples of 55 thereafter. At the upper end of the price band, the offer is valued at Rs 712.13 crore, and HD Fire Protect is expected to have a post-listing market capitalisation of Rs 4,748.73 crore.

The IPO is entirely an offer for sale of 2.62 crore equity shares by promoter shareholders Harish Narshi Dharamshi and his wife Kusum Dharamshi. As there is no fresh issue of shares, HD Fire Protect will not receive any proceeds from the public issue. The offer is aimed at providing an exit opportunity to the selling shareholders and facilitating the listing of the company's equity shares.

Of the total shares on offer, 50 per cent has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 35 per cent for retail investors. The company had filed its draft red herring prospectus with the Securities and Exchange Board of India in September 2025 and received regulatory approval for the IPO in January 2026.

HD Fire Protect operates two manufacturing facilities in Maharashtra and makes fire protection products and systems using water, foam and gas-based suppression technologies. In fiscal 2026, it supplied its products and systems to 2,066 customers across India and overseas markets. Domestic customers accounted for 65 per cent of its business, while international markets contributed the remaining 35 per cent.

For the quarter ended June 2026, the company reported a profit of Rs 23.8 crore and revenue of Rs 109 crore. For the financial year ended March 2026, its profit rose 6.4 per cent year-on-year to Rs 116.8 crore, while revenue increased 13 per cent to Rs 489.3 crore from the previous year.

Ambit, Anand Rathi Advisors and IIFL Capital Services are the merchant bankers to the issue. The IPO allotment is expected to be finalised on October 16, with the company's shares likely to list on the BSE and NSE on October 21.