HD Fire Protect has announced its initial public offering (IPO) with a price band set between ₹258 and ₹271 per share. The IPO opens on October 13 and closes on October 15, 2026. This offering is an offer for sale (OFS) of 2.63 crore shares by the company's promoters, Harish Narshi Dharamshi and Kusum Harish Dharamshi. No new shares will be issued, so the company will not receive any proceeds from this sale.
- The IPO price band is ₹258 to ₹271 per share.
- The offer consists solely of an offer for sale of 2.63 crore shares by promoters.
- The IPO opens on October 13 and closes on October 15, 2026.
- Retail investors can apply for a minimum of 55 shares and in multiples thereafter.
- Half of the net offer is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
What is HD Fire Protect and what products does it offer?
HD Fire Protect is a Mumbai-based company that designs and manufactures fire protection equipment and systems. Their products include foam, gas, and water-based fire suppression solutions. The company operates two manufacturing facilities in Maharashtra and serves a wide range of industries such as industrials, oil and gas, refining and petrochemicals, heavy engineering, aerospace, power and energy, data centres, pharmaceuticals, and warehousing.
What are some key projects and markets served by HD Fire Protect?
HD Fire Protect supplies fire protection equipment for several significant projects both in India and overseas. Notable projects include fire protection systems at India's largest refinery in Jamnagar, master stream nozzle installations at the Indian space launch pad in Sriharikota, fire protection equipment for the new Parliament building, equipment for Oman's Integrated Power & Water Plant Project, and deluge valves for Saudi Aramco's Ras Tanura Sea Island project.
How is the IPO structured in terms of share allocation?
The IPO consists entirely of an offer for sale by the promoters, meaning no fresh shares are issued. The money raised will go to the selling shareholders rather than the company. The allocation of shares is divided as follows:
- 50% of the net offer is reserved for qualified institutional buyers (QIBs).
- 35% is reserved for retail investors.
- 15% is reserved for non-institutional investors.
Retail investors must apply for at least 55 shares and in multiples of 55 thereafter.
What benefits does HD Fire Protect expect from listing its shares?
According to the company's red herring prospectus, HD Fire Protect expects that listing its equity shares will enhance its visibility and brand image. Additionally, listing will provide liquidity and a public market for its equity shares in India, which can be beneficial for shareholders.
Who are the lead managers for the IPO?
The book-running lead managers for the HD Fire Protect IPO are Anand Rathi Advisors, IIFL Capital Services, and Ambit.
