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IPO Open

Tue, Oct 13, 2026

IPO Close

Thu, Oct 15, 2026

Price Band

₹258 to ₹271

Market Cap*

₹4,748.73 Cr * on Upper Price

IPO Details

  • IPO Date
    13 to 15 Oct, 2026
  • Listing Date
    Wed, Oct 21, 2026 (T)
  • Face Value
    ₹5 per share
  • Price Band
    ₹258 to ₹271
  • Lot Size
    55 Shares
  • Sale Type
    OFS only
  • Issue Type
    Bookbuilding IPO
  • Listing At
    BSE, NSE
  • Employee Discount
    ₹25.00
  • Total Issue Size
    2,62,84,500 shares (agg. up to ₹712 Cr)
  • Offer for Sale
    2,62,84,500 shares of ₹5 (agg. up to ₹712 Cr)
  • Share Holding Pre Issue
    17,52,30,000 shares
  • Share Holding Post Issue
    17,52,30,000 shares

IPO Timetable (Tentative)

  • IPO Open
    Tue, Oct 13, 2026
  • Allotment
    Fri, Oct 16, 2026
  • Credit of Shares
    Mon, Oct 19, 2026
  • IPO Close
    Thu, Oct 15, 2026
  • Refund
    Mon, Oct 19, 2026
  • Listing
    Wed, Oct 21, 2026

Issue Reservation

Investor Category Shares
QIB Not more than 50% of the Net Offer
Retail Not less than 35% of the Net Offer
NII Not less than 15% of the Net Offer

IPO Lot Size

Investors can bid for a minimum of 55 shares and in multiples thereof.

Application Lots Shares Amount
Retail (Min) 1 55 ₹14,905
Retail (Max) 13 715 ₹1,93,765
S-HNI (Min) 14 770 ₹2,08,670
S-HNI (Max) 67 3685 ₹9,98,635
B-HNI (Min) 68 3740 ₹10,13,540

Investor Category Reservations

Category Limit Cut-off
RII Up to ₹2 Lakhs Yes
sNII ₹2 Lakhs – ₹10 Lakhs No
bNII Above ₹10 Lakhs No
Employee (EMP) Up to ₹2 Lakhs Yes
Employee + RII/NII Up to ₹2Lakhs (EMP) + RII/NII limits Yes (EMP/RII)

About HD Fire Protect Ltd.

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. The Company offers a comprehensive portfolio across eight product categories, including sprinklers, alarm valves and accessories, deluge valves and systems, foam equipment and suppression systems, monitors and nozzles, water spray nozzles, custom-engineered systems and gas suppression systems. Its products cater to industrial, residential and commercial applications, including oil and gas, refining and petrochemicals, power and energy, heavy engineering, aerospace, pharmaceuticals, data centres, hospitality, healthcare and other sectors. The Company develops a majority of its products in-house and focuses on proprietary designs meeting national and international standards.

The Company has over three decades of experience and has established a global presence, with exports to more than 90 countries since inception and 49 countries during the three months ended June 30, 2026. It was the first Indian fire protection equipment manufacturer to receive UL Listing for deluge valves in 1996 and the first Indian manufacturer to receive FM approval for a range of low-expansion foam system products. As of September 2026, it had 21 UL Listed and 87 FM Approved product certifications. The Company operates two manufacturing facilities in Jalgaon and Thane, Maharashtra, covering approximately 8.50 acres, supported by a fire test laboratory and R&D capabilities.

The Company has supplied fire protection equipment and systems to 2,066 customers in Fiscal 2026 and has supplied products for major projects including the Samruddhi Mahamarg, Jamnagar refinery, new Indian Parliament building, Saudi Aramco’s Ras Tanura Sea Island site and Oman’s Integrated Power & Water Plant Project. Revenue from operations increased from ₹3,729.53 million in Fiscal 2024 to ₹4,892.81 million in Fiscal 2026, representing a CAGR of 14.54%, while its order book stood at ₹1,586.01 million as of June 30, 2026.

As of June 30, 2026, the Company had 279 permanent employees and 253 contractual employees.

Competitive Strengths

  • Strong product certification and quality track record.
  • Advanced design, manufacturing and R&D capabilities.
  • Experienced management team and qualified personnel.
  • Comprehensive fire protection equipment and systems portfolio.
  • Track record of profitability and consistent financial performance.
  • Strong and diversified customer base with long-standing global relationships.
  • Well-established global presence in a certification-driven, high-barrier industry. b b

IPO Stock Quote & Charts

Company Financials (Restated)

HD Fire Protect Ltd.’s revenue increased by 12% and profit after tax (PAT) rose by 6% between the financial year ending with March 31, 2026 and March 31, 2025.    (Amount in ₹ Crore)

Period Ended 30 Jun 2026 31 Mar 2026 31 Mar 2025 31 Mar 2024
Assets 477.60 432.03 450.08 392.63
Total Income 114.07 505.12 450.68 392.02
Profit After Tax 23.87 116.79 109.72 87.92
EBITDA 29.73 150.46 138.01 106.63
NET Worth 375.93 396.01 342.19
Reserves and Surplus 309.93 286.07 302.59 332.19

Note:-

Operating EBITDA is provided in the financial statements.

Recently Listed IPOs in Other Consumer Services

Company Issue Type Issue Size Issue Price PE Ratio Listing Day Close Listing Gain/Loss % LTP
Mopshop Distribution Ltd. SME ₹27.26 Cr ₹138 22.22 ₹130.15 -5.69% ₹32.86
Safecure Services Ltd. SME ₹30.60 Cr ₹102 11.66 ₹77.55 -23.97% ₹25.41

IPO Objects of the Issue

The HD Fire Protect Ltd. IPO is a 100% Offer for Sale (OFS), so the company will not receive any funding and the entire IPO proceeds will go to the selling shareholders.

Key Performance Indicator (KPI)

Key Performance Indicator (KPI)

KPI Jun 30, 2026 Mar 31, 2026
ROE 6.13% 30.17%
ROCE 8.36% 40.33%
RoNW 5.97% 31.07%
PAT Margin 20.92% 23.12%
EBITDA Margin 27.26% 30.75%
NAV 22.82 21.45
P/B (x) 12.63

IPO Valuation

Valuation Metric Pre IPO Post IPO
EPS (₹) 6.66 5.45
P/E (x) 40.69 49.72
Market Cap at Offer Price ₹4,748.73 Cr. ₹4,748.73 Cr
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2026 available in RHP.

Shareholding Structure

Category Pre IPO Post IPO
Promoter and Promoter Group 58.1% 43.51%
Public 41.90% 56.49%
Total 100% 100%

Company Promoters: Rajnikant Lallubhai Chanchad, Sonalben Rajnikant Chanchad and Savaliya Dhruv Janakbhai.

Offer For Sale – Selling Shareholders

Name Category No. of Shares Offered Amount (₹ cr.)
Harish Narshi Dharamshi Promoter 89,83,700 243.46
Kusum Harish Dharamshi Promoter 1,73,00,800 468.85
Total 2,62,84,500 712.31

HD Fire Protect IPO Recommendations

Review By Subscribe May Apply Neutral Avoid
Brokers 0 0 0 0
Members 0 0 0 0

IPO Registrar

MUFG Intime India Pvt.Ltd.

IPO Lead Manager(s)

  1. Ambit Pvt.Ltd.
  2. Anand Rathi Advisors Ltd.
  3. IIFL Capital Services Ltd.

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

HD Fire Protect Ltd. Address
O-611
6th Floor, Runwal R Square
Opp. Veena Nagar, L. B. S. Marg, Mulund West
Mumbai, Maharashtra, 400080

IPO FAQs

HD Fire Protect IPO is a main-board IPO of 2,62,84,500 equity shares of the face value of ₹5 aggregating up to ₹712 Crores. The issue is priced at ₹258 to ₹271. The minimum order quantity is 55.

The IPO opens on Tue, Oct 13, 2026, and closes on Thu, Oct 15, 2026.

MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Angel One customers can apply online in HD Fire Protect IPO using UPI as a payment gateway. Angel One customers can apply in HD Fire Protect IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in HD Fire Protect IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘HD Fire Protect IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The HD Fire Protect IPO opens on Tue, Oct 13, 2026 and closes on Thu, Oct 15, 2026.

HD Fire Protect IPO lot size is 55, and the minimum amount required for application is ₹14,905.

You can apply in HD Fire Protect IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for HD Fire Protect IPO will be done on Friday, October 16, 2026, and the allotted shares will be credited to your demat account by Mon, Oct 19, 2026. Check the HD Fire Protect IPO allotment status.

The HD Fire Protect IPO listing date is not yet announced. The tentative date of listing is Wed, Oct 21, 2026.

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