HD Fire Protect IPO 2026: Date, Price Band ₹258–₹271, GMP, Lot Size & Allotment

HD Fire Protect Limited IPO
HD
HD Fire Protect Limited IPO
Fire Protection Equipment · Foam, Water & Gas Suppression · UL/FM Certified · Mumbai / Pan-India
📋 Mainline IPO 100% OFS BSE, NSE
₹271
Upper Price
₹712.31 Cr
Issue Size
Oct 21, 2026
Listing Date
₹4,748.73 Cr
Market Cap
📅 IPO Timetable
All dates tentative
🟢
IPO Opens
Tuesday, 13 October 2026
Bidding starts — apply before close
🔒
IPO Closes
Thursday, 15 October 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Friday, 16 October 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Monday, 19 October 2026
Unallotted funds unblocked; shares credited to demat
🏷️
Wednesday, 21 October 2026
Trading begins on BSE & NSE from 10:00 AM IST
📋 IPO Details
IPO Open Date13 October 2026 (Tue)
IPO Close Date15 October 2026 (Thu)
Listing Date21 October 2026 (Wed)
Face Value₹5 per share
Price Band₹258 to ₹271
Issue Price (Upper Band)₹271 per share
Issue TypeBook Build — 100% OFS
Lot Size55 shares (Min App: 1 Lot / 55 Shares)
Total Issue Size2,62,84,500 shares (₹712.31 Cr)
Fresh Issue0 shares (₹0 Cr)
Offer for Sale (OFS)2,62,84,500 shares (₹712.31 Cr)
Employee Discount₹25.00 per share
Pre-Issue Shares17,52,30,000
Post-Issue Shares17,52,30,000 (No equity dilution)
Promoter Holding (Pre → Post)100.00% → 85.00%
Market Cap (At Upper Band)₹4,748.73 Cr
Listing ExchangeBSE, NSE
Lead ManagersAmbit, Anand Rathi, IIFL Capital
RegistrarMUFG Intime India Pvt.Ltd.
Order Book (30 Jun 2026)₹158.60 Cr
💰 Lot Size & Minimum Investment
At upper price ₹271
Investor TypeLotsSharesAmount
Retail — Minimum155₹14,905
Retail — Maximum13715₹1,93,765
S-HNI (sNII) — Min14770₹2,08,670
S-HNI (sNII) — Max673,685₹9,98,635
B-HNI (bNII) — Min683,740₹10,13,540
⚠️ Note: Investors can bid for a minimum of 55 shares and in multiples thereof. Eligible employees receive a dedicated discount of ₹25.00 per equity share.
👥 Investor Reservation
Allocated portion of Net Offer
Not more than 50%
QIB Portion
Not less than 35%
Retail Portion
Not less than 15%
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Standalone · ₹ Crore
Metric30 Jun 202631 Mar 202631 Mar 202531 Mar 2024
Total Assets477.60432.03450.08392.63
Total Income114.07505.12450.68392.02
PAT23.87116.79109.7287.92
EBITDA29.73150.46138.01106.63
Net Worth375.93396.01342.19332.19
Reserves & Surplus309.93286.07302.59332.19
Income Growth
FY 2023–24₹392.02 Cr
FY 2024–25₹450.68 Cr
FY 2025–26₹505.12 Cr
🎯 Key Performance Indicators
30.17%
ROE
Mar 31, 2026
40.33%
ROCE
Mar 31, 2026
23.12%
PAT Margin
Mar 31, 2026
30.75%
EBITDA Margin
Mar 31, 2026
31.07%
RoNW
Mar 31, 2026
12.63x
Price/Book
Mar 31, 2026
₹21.45
NAV (Mar 26)
₹22.82 (Jun 26)
₹158.60 Cr
Order Book
As on 30 Jun 2026
⚖️ Valuation & EPS
Pre-IPO EPS
₹6.66
FY26 earnings + pre-issue shares
P/E: 40.69x
Post-IPO EPS
₹5.45
Diluted basis
P/E: 49.72x
Price to Book Value
12.63x
At upper price band ₹271
Market Cap
₹4,748.73 Cr
At upper offer price ₹271
ℹ️ Because the issue is a 100% Offer for Sale (OFS), the total paid-up equity base remains unchanged at 17,52,30,000 equity shares post-issue. Valuation reflects an Upper Price Band Market Cap of ₹4,748.73 Cr based on FY26 PAT of ₹116.79 Cr and annualised Q1 FY27 earnings of ₹23.87 Cr.
🎯 Objects of the Issue
Proceeds distribution
The HD Fire Protect Limited IPO is a 100% Offer for Sale (OFS) of 2,62,84,500 shares. The company will not receive any proceeds from the offer. The entire issue proceeds of ₹712.31 crore (after deducting offer expenses) will be transferred directly to the selling promoter shareholders.
Total OFS Proceeds Goal ₹712.31 Cr
🏢 About HD Fire Protect Ltd.
Est. 1997 · Mumbai, Maharashtra · Fire Protection Equipment & High-Hazard Suppression

HD Fire Protect Limited, incorporated in April 1997, is an Indian manufacturer and global supplier of specialized fire protection equipment and advanced suppression systems, delivering water, foam, and gas-based firefighting solutions. The company manufactures an extensive catalogue covering eight product verticals: automatic sprinklers, alarm valves and accessories, deluge valves, foam suppression equipment, fire monitors and nozzles, water spray nozzles, gas suppression systems, and custom-engineered turnkey systems.

The business primarily addresses high-risk mission-critical industries including oil and gas exploration, refineries, petrochemical complexes, renewable power generation, aerospace, data centers, heavy engineering, pharmaceuticals, hospitality, and healthcare. Operating two integrated manufacturing facilities in Jalgaon and Thane, Maharashtra covering over 8.50 acres, the company was the first Indian manufacturer to receive UL Listing for deluge valves (1996) and FM approval for low-expansion foam systems. As of September 2026, it holds 21 UL Listed and 87 FM Approved certifications. Across FY26, HD Fire Protect supplied systems to 2,066 customers and executed installations for marquee national and international landmarks, including the new Indian Parliament Building, Jamnagar Refinery, Samruddhi Mahamarg, Saudi Aramco’s Ras Tanura Sea Island, and Oman’s Integrated Power & Water Plant. As of June 30, 2026, the company supported 279 permanent employees and 253 contractual personnel.

Brand Ecosystem
🧯
Water & Foam Suppression
Sprinklers, alarm valves, deluge valves, and FM-approved low-expansion foam systems.
🔥
Gas Suppression Systems
Clean agent and gas extinguishing systems engineered specifically for data centers and control rooms.
🏭
Manufacturing & Fire Test Labs
8.5-acre combined facilities across Jalgaon and Thane featuring specialized in-house fire test laboratories.
🌎
Global Footprint
Active export presence across 90+ countries with installations for Saudi Aramco, Reliance, and public infra.
Competitive Strengths
🏆High regulatory barriers with 21 UL Listed and 87 FM Approved certifications across major product categories.
🏛️Trusted track record supplying mega projects such as the new Indian Parliament, Jamnagar Refinery, and Saudi Aramco.
📋Strong revenue visibility supported by an active confirmed order book of ₹158.60 Cr as of June 30, 2026.
📈Strong profitability profile generating ₹505.12 Cr in FY26 revenue with a 30.17% ROE and 40.33% ROCE.
Company Promoters
HD
Harish Narshi Dharamshi & Kusum Harish Dharamshi
Promoters, HD Fire Protect Ltd.
MG
Miheer Sadanand Ghotikar, Parika Miheer Ghotikar & Anik Narendra Dharamshi
Promoters, HD Fire Protect Ltd.
Key Selling Shareholders (OFS)
Harish Narshi Dharamshi89,83,700 Shares (₹243.46 Cr)
Kusum Harish Dharamshi1,73,00,800 Shares (₹468.85 Cr)
📅 Key Dates
IPO Opens13 Oct 2026
IPO Closes15 Oct 2026
Allotment16 Oct 2026
Refund & Share Credit19 Oct 2026
Listing Day21 Oct 2026
💡 Quick Summary
Price Band₹258 – ₹271
Upper Price₹271 / share
Lot Size55 shares
Min. Investment (Retail)₹14,905 (1 Lot)
Issue Size₹712.31 Cr (OFS)
ListingBSE, NSE
🏦 Registrar & Lead Manager
Registrar
MUFG Intime India Pvt.Ltd.
📞 022-49186000
[email protected]
Lead Managers
Ambit Pvt.Ltd.
Anand Rathi Advisors Ltd.
IIFL Capital Services Ltd.
📍 Registered Address
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
[email protected]
🛡️ Regulatory Note: Mainline IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️ Disclaimer: This page presents publicly available information from the HD Fire Protect IPO RHP for informational purposes only. This format is generated adhering to the required structure as specified in the IPO NEW FORMAT source file. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
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