- Price band
- To be announcedNot in this filing
- Issue size
- 2,62,84,500 sharesAmount set with price
- Face value
- ₹5per equity share
- Lot size
- To be announcedMin. investment shown once set
- Anchor biddingMon, 2026
- OpensTue, 2026
- ClosesThu, 2026
- AllotmentMon, 2026Demat credit and Refunds same day
- ListingWed, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 0 shares
- Offer for sale
- 2,62,84,500 shares
- Total issue
- 2,62,84,500 shares
- Face value
- ₹5
- Listing at
- NSE, BSE
- RHP date
- 5 Oct 2026
Source: Red Herring Prospectus dated 5 Oct 2026Updated
Reservation
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | — | — | 35% |
| Non-institutional investors (NII) | — | — | 15% |
| Qualified institutional buyers (QIB) | — | — | 50% |
| Anchor investors | — | — | — |
| Employees | — | — | — |
Source: Red Herring Prospectus dated 5 Oct 2026Updated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2025-26, pre-issue- EPS (basic)
- ₹6.66
- EPS (diluted)
- ₹6.66
- RoNW
- 31.07%
- NAV per share (As on June 30, 2026)
- ₹22.82
- NAV per share (As on March 31, 2026)
- ₹21.45
P/E and market cap are calculated once the price band is announced.
Source: Red Herring Prospectus dated 5 Oct 2026Updated
Financials
Standalone, restated · ₹ crore| Period ended | 30 Jun 20263 months | 31 Mar 202612 months | 31 Mar 202512 months | 31 Mar 202412 months |
|---|---|---|---|---|
| Revenue from operations | 109.05 | 489.28 | 432.80 | 372.95 |
| Total income | 114.07 | 505.12 | 450.68 | 392.02 |
| Profit after tax | 23.87 | 116.79 | 109.72 | 87.92 |
| Net worth | 401.02 | 377.15 | 397.23 | 343.41 |
| Reserves and surplus | 313.41 | 289.53 | 309.62 | 340.76 |
| Total assets | 477.60 | 432.03 | 450.08 | 392.63 |
12 months vs 12 months: revenue +13.1%, profit after tax +6.4%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: Red Herring Prospectus dated 5 Oct 2026Updated
About the company
Manufactures and supplies fire protection equipment and systems, including water, foam and gas-based suppression products, serving industrial, residential and commercial users. Sells across India and over 90 countries, with manufacturing facilities in Maharashtra.
- Incorporated
- 1997
- Industry
- Fire Protection Equipment
- CIN
- U29270MH1997PLC107536
- Website
- hdfire.com
Source: Red Herring Prospectus dated 5 Oct 2026Updated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Miheer Sadanand Ghotikar | Promoter | 10.49% | — | 0 |
| Parika Miheer Ghotikar | Promoter | 6.62% | — | 0 |
| Anik Narendra Dharamshi | Promoter | 4.26% | — | 0 |
| Harish Narshi Dharamshi | Selling shareholder | 56.13% | — | 89,83,700 |
| Kusum Harish Dharamshi | Selling shareholder | 17.83% | — | 1,73,00,800 |
Source: Red Herring Prospectus dated 5 Oct 2026Updated
Objects of the issue
| Purpose | Amount |
|---|---|
| Offer for sale of equity shares by promoter selling shareholders; company receives no proceeds | Set with price |
Source: Red Herring Prospectus dated 5 Oct 2026Updated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| HD Fire Protect LimitedIssuer | ₹6.66 | — | 31.07% | ₹21.45 |
| Azad Engineering Limited | ₹20.57 | 145.65× | 8.74% | ₹236.74 |
| KSB Limited | ₹15.54 | 55.68× | 16.11% | ₹96.46 |
| Kirloskar Pneumatic Company Limited | ₹39.45 | 17.18× | 20.36% | ₹192.25 |
| Elgi Equipment Limited | ₹13.65 | 44.70× | 19.28% | ₹70.41 |
| Ingersoll-Rand (India) Limited | ₹81.1 | 51.39× | 20.36% | ₹195.04 |
Source: Red Herring Prospectus dated 5 Oct 2026Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- Long operating history of over three decades with an established global brand.
- Holds several internationally recognised product certifications such as UL Listing and FM Approval.
- Sells to over 90 countries with a balanced mix of domestic and export revenue.
- Consistent profitability and high reported operating EBITDA margins over recent periods.
- Experienced promoter and management team with long industry experience.
Risks
- Product failure could lead to liability, warranty costs and reputational damage.
- About one-third of revenue comes from outside India, exposing the company to foreign market and regulatory risks.
- Dependence on obtaining and renewing country-specific product certifications, which can be slow.
- Company receives no proceeds from the offer, as it is a pure offer for sale by promoters.
- Pending compounding and adjudication matters relating to past Companies Act non-compliances.
Source: Red Herring Prospectus dated 5 Oct 2026Updated
Contacts
Source: Red Herring Prospectus dated 5 Oct 2026Updated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: Red Herring Prospectus dated 5 Oct 2026Updated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on NSE and BSE.
Frequently asked questions
When does the HD Fire Protect IPO open and close?
According to the Red Herring Prospectus, the issue opens on Tuesday, 13 October 2026 and closes on Thursday, 15 October 2026.
What is the HD Fire Protect IPO price band?
The Red Herring Prospectus does not include a price band. The company announces it by advertisement before the issue opens, and this page is updated when it is filed.
Where will HD Fire Protect shares list?
On NSE and BSE. The tentative listing date is Wednesday, 21 October 2026.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the HD Fire Protect IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 19 October 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
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