HD Fire Protect IPO opened for subscription on October 13, 2026. The Rs 712.31 crore public issue will remain open until October 15, offering investors an opportunity to subscribe to the fire protection equipment manufacturer’s shares.
Key Highlights
- HD Fire Protect IPO opened on October 13, with a Rs 712.31 crore offer for sale closing on October 15, 2026.
- The IPO price band is Rs 258-Rs 271 per share, with a 55-share lot and Rs 14,905 minimum retail investment.
The IPO is entirely an offer for sale (OFS) of 2.63 crore equity shares. As a result, HD Fire Protect will not receive any proceeds from the issue, with the funds going to the promoter selling shareholders.
The IPO allotment is likely to be completed on October 16 and the shares will be listed on BSE and NSE on 21st October 2026.
HD Fire Protect IPO Price Band and Lot Size
The initial public offering of the HD Fire Protect has been set at Rs 258 and Rs 271 per equity share in the price band. The minimum lot size is 55 shares with the maximum limit being Rs 14,905 at the top end of the price band.
The issue allocation provides for not more than 50% of the net offer to qualified institutional buyers (QIBs), at least 35% to retail individual investors and at least 15% to non-institutional investors (NIIs).
HD Fire Protect IPO: Key Dates and Details
- IPO opening date: October 13, 2026
- IPO closing date: October 15, 2026
- Expected allotment date: October 16, 2026
- Tentative listing date: October 21, 2026
- Listing exchanges: BSE and NSE
- Price band: Rs 258–Rs 271 per share
- Lot size: 55 shares
- Minimum retail investment: Rs 14,905 at the upper price band
- Issue size: Rs 712.31 crore
- Issue type: Offer for sale (OFS)
HD Fire Protect IPO: Anchor Investor Participation
Before the public issue opened, anchor investors subscribed to 78,64,008 equity shares at Rs 271 per share. The anchor investor bidding took place on October 12, 2026, according to the exchange filing.
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HD Fire Protect IPO: Offer for Sale Details
The IPO comprises an OFS by promoter selling shareholders Harish Narshi Dharamshi and Kusum Harish Dharamshi.
Harish Narshi Dharamshi is offering up to 89,83,700 equity shares, while Kusum Harish Dharamshi is offering up to 1,73,00,800 shares. The equity shares have a face value of Rs 5 each.
According to the offer details, the weighted average acquisition cost per share is Rs 0.05 for Harish Narshi Dharamshi and Rs 0.09 for Kusum Harish Dharamshi.
Since the IPO is entirely an OFS, HD Fire Protect will not receive any funds from the public offering. The proceeds will go to the selling shareholders.
Ambit Pvt Ltd, Anand Rathi Advisors Ltd and IIFL Capital Services, formerly known as IIFL Securities, are the book-running lead managers. MUFG Intime India Pvt Ltd is the registrar for the issue.
HD Fire Protect Ltd: Company Overview
Incorporated in April 1997, HD Fire Protect manufactures and supplies fire protection equipment and systems for industrial, commercial and residential applications. It offers water-based, foam-based and gas-based fire suppression solutions in eight product categories ranging from sprinklers to alarm valves and accessories, deluge valves and systems, foam equipment, monitors and nozzles, water spray nozzles, custom-engineered systems to gas suppression systems.
The company operates in various sectors such as oil and gas, refining and petrochemicals, power and energy, heavy engineering, aerospace, pharmaceuticals, data centres, hospitality and healthcare. It produces most of its products in-house, and is concerned with proprietary designs which adhere to national and international standards.
HD Fire Protect has exported products to more than 90 countries since its inception, including 49 countries during the quarter ended June 30, 2026. The company was the first Indian fire protection equipment manufacturer to receive UL Listing for deluge valves in 1996 and the first Indian manufacturer to secure FM approval for a range of low-expansion foam system products. As of September 2026, it held 21 UL Listed and 87 FM Approved product certifications.
The company operates two manufacturing facilities in Jalgaon and Thane, Maharashtra, spanning approximately 8.50 acres. Its operations are supported by a fire test laboratory and research and development facilities.
During FY26, HD Fire Protect supplied fire protection equipment and systems to 2,066 customers. Its project portfolio includes the Samruddhi Mahamarg, Jamnagar refinery, the new Indian Parliament building, Saudi Aramco’s Ras Tanura Sea Island site and Oman’s Integrated Power & Water Plant Project.
HD Fire Protect IPO: How Will the Proceeds Be Used?
The HD Fire Protect IPO is entirely an offer for sale, meaning the company will not receive any proceeds from the issue. The funds raised will be distributed to the promoter selling shareholders, rather than being used directly by the company for expansion, debt repayment or other corporate purposes. The offering comes amid a strong pipeline of public issues, with India's IPO pipeline reaching Rs 3.86 Lakh Crore, highlighting the scale of fundraising opportunities in the country’s primary market.
