HD Fire Protect IPO Opens October 13: Price Band, Lot Size and Key Details
- 12th October 2026
- 12:00 PM
- 4 min read
Summary
HD Fire Protect Ltd’s ₹712.31 crore initial public offering (IPO) opens for subscription on 13 October 2026 and closes on 15 October 2026. The price band is ₹258 to ₹271 per share, with a lot size of 55 shares. The issue is entirely an offer for sale by two promoters, and shares are tentatively set to list on 21 October.Mumbai | 12 October 226
An IPO is a company’s first sale of shares to the public. HD Fire Protect Ltd opens its IPO for bidding on Tuesday, 13 October 2026, with a price band of ₹258 to ₹271 per share.
The ₹712.31 crore issue is a book-built offer with a lot size of 55 shares. It is entirely an offer for sale (OFS) of 2,62,84,500 equity shares by the promoters.
What Are the Key Details of the HD Fire Protect IPO?
Retail investors need at least ₹14,905 to bid for one lot of 55 shares at the upper price band. They can bid for up to 13 lots, or 715 shares, worth ₹1,93,765. The company has reserved shares worth ₹1.75 crore for eligible employees, who get a discount of ₹25 per share.
The net offer is split among investor groups as follows:
- Qualified institutional buyers (QIBs) receive not more than 50%.
- Retail investors receive not less than 35%.
- Non-institutional investors (NIIs) receive not less than 15%.
| Detail | Value |
| Price band | ₹258 to ₹271 per share |
| Face value | ₹5 per share |
| Issue size | ₹712.31 crore (2,62,84,500 shares) |
| Issue type | Book-building, OFS only |
| Lot size | 55 shares |
| Listing | BSE, National Stock Exchange (NSE) |
| Lead managers | Ambit Pvt Ltd, Anand Rathi Advisors Ltd, IIFL Capital Services Ltd |
| Registrar | MUFG Intime India Pvt Ltd |
Why Will HD Fire Protect Receive No Money From the IPO?
The company will receive no money from the IPO because the entire issue is an OFS. All proceeds go to the selling shareholders. The sellers are promoter Harish Narshi Dharamshi and his wife, Kusum Harish Dharamshi.
| Selling shareholder | Shares offered | Amount (₹ crore) |
| Harish Narshi Dharamshi | 89,83,700 | 243.46 |
| Kusum Harish Dharamshi | 1,73,00,800 | 468.85 |
| Total | 2,62,84,500 | 712.31 |
The total share count stays at 17,52,30,000 before and after the issue. Promoter and promoter group holding falls from 100% to 85%, and the public will hold 15%.
What Does HD Fire Protect Do?
Mumbai-based HD Fire Protect makes and supplies fire protection equipment and systems that use water, foam and gas to put out fires. The company was incorporated in April 1997 and sells products across eight categories, including sprinklers, alarm valves and foam systems.
Its customers work in sectors such as oil and gas, power, pharmaceuticals, data centres and healthcare. The company runs two manufacturing units in Jalgaon and Thane, Maharashtra, which together cover approximately 8.50 acres.
The company has exported to more than 90 countries since it began operating. In the financial year ended 31 March 2026 (FY26), domestic markets contributed 65% of revenue from operations and international markets contributed 35%.
HD Fire Protect supplied 2,066 customers in FY26. Its order book stood at ₹1,586.01 million as of 30 June 2026.
How Has HD Fire Protect Performed Financially?
Revenue from operations rose from ₹3,729.53 million in FY24 to ₹4,892.81 million in FY26. This is a compound annual growth rate (CAGR) of 14.54%. Between FY25 and FY26, total income grew 12% and profit after tax (PAT) grew 6%.
| ₹ crore | FY24 | FY25 | FY26 |
| Total income | 392.02 | 450.68 | 505.12 |
| PAT | 87.92 | 109.72 | 116.79 |
At the upper price band, the company’s market value is ₹4,748.73 crore.
What Is the HD Fire Protect IPO GMP Today?
The grey market premium (GMP) is the unofficial amount above the issue price at which IPO shares trade before they list. HD Fire Protect’s GMP stood at ₹80 on 12 October 2026. Over the last six sessions, the GMP has ranged from ₹63 to ₹86.
Grey market premium is an unofficial indicator based on unregulated trading activity and does not guarantee listing-day performance.
What Are the Important Dates for the HD Fire Protect IPO?
Anchor investors are large institutions that bid before an issue opens to the public. HD Fire Protect’s anchor portion opens on 12 October 2026, a day before public bidding begins. All dates below are tentative.
| Event | Date |
| Anchor bidding | Monday, 12 October 2026 |
| IPO opens | Tuesday, 13 October 2026 |
| IPO closes | Thursday, 15 October 2026 |
| Allotment | Friday, 16 October 2026 |
| Refunds | Monday, 19 October 2026 |
| Credit of shares | Monday, 19 October 2026 |
| Listing | Wednesday, 21 October 2026 |
Outlook
Bidding closes on 15 October 2026. Allotment is expected on 16 October, and shares are tentatively set to list on the BSE and NSE on 21 October 2026.
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