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HD Fire Protect Limited

MainboardopenNSE · BSE
13 Oct 2026 – 15 Oct 2026
—LEFT
Offer Price
₹258–271
Bid lot
55
Min Application
₹14,905
Issue Size
₹712 Cr

Key dates

Open date
13 Oct 2026
Done
Close date
15 Oct 2026
Today
Basis of allotment
16 Oct 2026
Tomorrow
Initiation of refunds
16 Oct 2026
Tomorrow
Credit to demat
16 Oct 2026
Tomorrow
Listing date
21 Oct 2026
in 6 days

Issue reservation

₹712 Cr
QIB 49.86%9.97%Retail 34.91%
QIB
1.31 Cr sh · ₹355.00 Cr
49.86%
HNI (10L+)
26.2 L sh · ₹70.99 Cr
9.97%
HNI (2-10L)
13.1 L sh · ₹35.53 Cr
4.99%
Retail
91.7 L sh · ₹248.56 Cr
34.91%
Employee
71,138 sh · ₹1.75 Cr
0.27%
Applications required for 1× subscription
Retail (≤₹2L)
1,66,812 forms
S-HNI (₹2–10L)
1,702 forms
B-HNI (>₹10L)
701 forms
From this issue's reservation split and lot size — the minimum bid each category can place.
BRLM: Ambit · Anand Rathi Advisors · IIFL Capital Services

Lot ladder — how much to bid

1 lot = 55 shares
Retail · Up to ₹2 L1–13 lots
Min · 1 lot
55 sh · ₹14,905
Max · 13 lots
715 sh · ₹1,93,765
S-HNI · ₹2 L to ₹10 L14–67 lots
Min · 14 lots
770 sh · ₹2,08,670
Max · 67 lots
3,685 sh · ₹9,98,635
B-HNI · Above ₹10 L68+ lots
Min · 68 lots
3,740 sh · ₹10,13,540
Entry point
₹10,13,540 onward

Issue details

Lead managersAmbit, Anand Rathi Advisors, IIFL Capital Services
Offer for sale2,62,84,500 sh · ₹712 Cr
Face value₹10
Listing onNSE · BSE
RegistrarMUFG Intime India Private Limited
Live subscription
Live nowUpdated 15 Oct 2026
61.68×
0×1×2×3×+
Heavily subscribed
Book₹499.20 Cr
Subscribed₹30,791 Cr
Applications33,11,182

Share-wise

by category
CategoryBook SizeSubscriptionNo. of Times
QIB (Ex. Anchor)
52,42,673₹142.08 Cr
50,20,64,970₹13,606 Cr
95.77×
HNI
39,32,004₹106.56 Cr
46,66,85,780₹12,647 Cr
118.69×
HNI (10L+)
26,21,336₹71.04 Cr
35,73,19,435₹9,683 Cr
136.31×
HNI (2-10L)
13,10,668₹35.52 Cr
10,93,66,345₹2,964 Cr
83.44×
Retail
91,74,677₹248.63 Cr
16,64,47,820₹4,511 Cr
18.14×
Employee
71,138₹1.75 Cr
9,96,930₹24.52 Cr
14.01×
Total
1,84,20,492₹499.20 Cr
1,13,61,95,500₹30,791 Cr
61.68×

*QIB Book Size EXCLUDES the anchor portion of 78,64,008 shares, from the actual anchor allotment.

Application-wise

CategoryReq 1×TotalTimes
HNI (10L+)70194,226134.42×
HNI (2-10L)1,7021,37,03180.51×
Retail1,66,81225,93,44915.55×
Employee1,29312,6439.78×

Total applications: 28,37,349

Subscription Demand

in ₹ crore
CategoryApplied
QIB13605.96
FIIs1377.76
DIIs7785.36
Mutual funds533.44
Others3909.40
HNI12647.18
HNI (10L+)9683.36
HNI (2-10L)2963.83
Retail4510.74
Employee24.52
Total30790.90

Amounts at the upper band (₹271). Times figures are computed from the shares this page shows so Book × Times = Subscribed always cross-checks.

Grey-market sentiment
No grey-market data yet.
Financials

Particulars

FY26

FY25

FY24

Assets

432.03

450.08

392.63

Total Income

505.12

450.68

392.02

PAT

116.79

109.72

87.92

Net Worth

375.93

396.01

342.19

Reserves & Surplus

286.07

302.59

332.19

Objects of the issue
  • 100% OFS: IPO comprises an Offer for Sale of up to 2,62,84,500 equity shares, with no fresh issue.

  • No Company Proceeds: The Company will receive no IPO proceeds; the entire amount will go to the selling promoter shareholders.

About the company

Incorporated in April 1997, HD Fire Protect Limited is an Indian manufacturer and supplier of fire protection equipment and systems, offering water-, foam- and gas-based fire suppression solutions across eight product categories. Its products serve industrial, commercial and residential sectors, including oil & gas, power, pharmaceuticals, data centres and healthcare.

With over three decades of experience, the Company exports to more than 90 countries and has 21 UL Listed and 87 FM Approved product certifications as of September 2026. It operates two manufacturing facilities in Maharashtra, supported by in-house R&D and fire-testing capabilities.

The Company supplied products to 2,066 customers in Fiscal 2026 and has executed projects for major clients and infrastructure developments in India and overseas. Revenue grew from ₹3,729.53 million in Fiscal 2024 to ₹4,892.81 million in Fiscal 2026, a CAGR of 14.54%, while its order book stood at ₹1,586.01 million as of June 30, 2026.

Company strengths

  • Strong product certifications and proven quality standards.

  • Advanced design, manufacturing and in-house R&D capabilities.

  • Experienced management team supported by skilled personnel.

  • Comprehensive portfolio of fire protection products and systems.

  • Consistent profitability and a track record of stable financial performance.

  • Diversified customer base with strong, long-standing global relationships.

  • Established global presence in a certification-driven, high-entry-barrier industry.

Promoters

Harish Narshi DharamshiKusum Harish DharamshiMiheer Sadanand GhotikarParika Miheer GhotikarAnik Narendra Dharamshi

Registered office & contact

HD Fire Protect Limited

Address - O-611

6th Floor, Runwal R Square

Opp. Veena Nagar, L. B. S. Marg, Mulund West

Mumbai, Maharashtra, 400080

📞 +91 22 35287000

✉️ investors@hdfire.com

Documents

Filed with SEBI / the exchange by the issuer. Opens on the issuer's or the regulator's site.

How to apply
1Create your account & log inSign up on Investoyard and complete a quick KYC.
2Pick the IPO & tap ApplyOpen the live IPO and choose your investor category.
3Enter bid & quantityUp to 3 bids · cut-off or price band · retail cap ₹2,00,000.
4Approve the UPI mandateYou receive a fund-block request on your UPI app.
5DoneFunds stay blocked until allotment, then auto-debited (or released).
Frequently asked questions
What is the minimum investment in the HD Fire Protect Limited IPO?

One lot of 55 shares — ₹14,905 at the upper price band of ₹271.

How many bids can I place?

Up to 3 bids per application. Retail applications are capped at ₹2,00,000; above that you must apply in the HNI category.

When are the funds debited?

Funds are blocked via a UPI mandate at application and debited only on allotment. If shares are not allotted, the block is released automatically.

When will the shares list?

Tentative listing on 2026-10-21 on NSE / BSE.

₹258–271
Each applicant applies with their own PAN, demat and UPI.
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