HD Fire Protect files draft papers with SEBI for IPO

HD Fire Protect Limited, an Indian manufacturer and supplier of fire protection equipment, has filed its Draft Red Herring Prospectus (DRHP) with the market regulator, the Securities and Exchange Board of India (SEBI), to launch an Initial Public Offering (IPO).

The public issue consists entirely of an Offer-For-Sale (OFS) of up to 26,284,500 equity shares by its promoter selling shareholders.

The OFS includes up to 8,983,700 equity shares by Harish Narshi Dharamshi and up to 17,300,800 shares by Kusum Harish Dharamshi. The company will not receive any proceeds from the offer. The primary objectives of the IPO are to execute the Offer for Sale and to achieve the benefits of listing the equity shares on the stock exchanges.

HD Fire Protect was the second-largest manufacturer of fire protection systems in India based on operating income in Fiscal 2024. It also ranked as the largest exporter by value in the same fiscal year, with a footprint in over 90 countries as of Fiscal 2025.

The company offers a comprehensive portfolio of water, foam, and gas-based fire suppression systems, developing the majority of its products with proprietary designs that conform to both national and international standards. Its products serve high-hazard industrial applications as well as the residential and commercial sectors.

HD Fire Protect operates across diverse product categories, including sprinkler systems, hydrant systems, extinguishers, foam equipment, and custom-engineered systems. The company competes with global players such as Johnson Controls (India) and Honeywell in certain segments.

Ambit Private Limited, Anand Rathi Advisors Limited, and IIFL Capital Services Limited have been appointed as the Book Running Lead Managers for the issue.