The HD Fire Protect IPO was fully subscribed on its first day of bidding, October 13, 2026. The company offered 2.63 crore shares through an offer for sale (OFS) worth ₹712.31 crore. This IPO allows promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi to sell their shares to the public. The issue will remain open until October 15.
- The IPO price band is set between ₹258 and ₹271 per share.
- A lot size consists of 55 shares.
- The IPO was subscribed 1.04 times on day one.
- Before the IPO, the company raised ₹213.11 crore from anchor investors.
- The shares are expected to list on NSE and BSE on October 21.
What is the HD Fire Protect IPO?
HD Fire Protect Ltd is a company that designs and manufactures fire protection equipment and systems. These include water-, foam-, and gas-based fire suppression solutions. The company operates two manufacturing facilities in Maharashtra and serves various sectors such as oil and gas, refining, petrochemicals, power, pharmaceuticals, aerospace, data centres, and warehousing.
Who are the promoters and what is being offered?
The promoters of HD Fire Protect, Harish Narshi Dharamshi and Kusum Harish Dharamshi, are offering 2.63 crore shares through the IPO. This is an offer for sale, meaning the promoters are selling their existing shares to the public. The company itself is not issuing new shares in this IPO.
What was the subscription status on Day 1?
According to data from the National Stock Exchange (NSE) until 11:24 am on October 13, the IPO received bids for 1,91,41,100 shares. This is slightly higher than the 1,84,20,492 shares on offer, resulting in a subscription rate of 1.04 times. This means the IPO was fully subscribed on the first day.
Who were the anchor investors?
Before the public issue, HD Fire Protect raised ₹213.11 crore from anchor investors. These included Bajaj Life Insurance, Axis Max Life Insurance, Allianz Global Investors Fund, Kotak Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life Mutual Fund, HDFC Mutual Fund, Mirae Asset Mutual Fund, UTI Mutual Fund, and Bandhan Mutual Fund. The company allotted 78.64 lakh shares to 25 funds at the upper price band of ₹271 per share.
What are some notable projects served by HD Fire Protect?
HD Fire Protect has supplied fire protection equipment for several important projects. These include India's new Parliament building, the largest refinery in Jamnagar, and the space launch facility in Sriharikota. Their equipment helps protect critical infrastructure from fire hazards.
When will the shares list on stock exchanges?
The shares of HD Fire Protect are expected to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on October 21, 2026. This will allow investors to trade the shares publicly.
Who managed the IPO?
The IPO was managed by Ambit, IIFL Capital Services, and Anand Rathi Advisors as the book-running lead managers. MUFG Intime India served as the registrar for the issue.
