HD Fire Protect Limited
IPO Details
Subscription
Lot Distribution
Reservation
Company Fin.
₹70(25.83%)
Premium (ELP)
HD Fire Protect Limited's successfully transitioned to public market status with its listing on NSE, BSE on Oct 21, 2026. The IPO mobilized 2,62,84,500 Shares in cumulative capital, including TBD for corporate expansion and ₹712.31 Cr for shareholder liquidity management.
The public offering was conducted within the price parameters of ₹258 to ₹271, with minimum investment lots of 55 shares. subscription activity between Oct 13, 2026 and Oct 15, 2026 demonstrated market reception to the company's valuation and growth narrative.
The allotment process concluded on Oct 16, 2026, finalizing share distribution to successful bidders. The listing represents a transformational event, providing the company with enhanced market visibility, regulatory compliance framework, and access to diversified investor capital.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in 1997, HD Fire Protect Ltd. specializes in designing, manufacturing, and supplying fire protection equipment and systems, providing reliable and internationally certified solutions for industrial, commercial, and institutional safety requirements. The company operates two manufacturing facilities in Maharashtra—Jalgaon MIDC and Thane MIDC—spanning a combined 8.50 acres, and offers products including fire sprinklers, valves, foam equipment, and detection systems to support industries such as oil, gas, power, manufacturing, and infrastructure. With a focus on research, continuous improvement, and global compliance, HD Fire Protect Ltd. leverages a strong distribution network and customer service to maintain leadership in domestic and international markets, employing 261 permanent and 185 contractual staff as of March 31, 2025.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Strong Global Presence & Entry Barriers: With over 36 years of experience and exports to more than 90 countries, the Company is supported by certifications such as UL Listed, FM Approved, ASME U Stamp and CE Marking. These certifications generally require 6–24 months to obtain, creating significant barriers for new competitors.
- Comprehensive Product Portfolio: Offers fire protection solutions across eight product categories, covering water, foam and gas-based suppression technologies. Its products serve industries such as industrials, oil & gas, power, pharmaceuticals and data centres, reducing reliance on any single sector.
- Diversified & Established Customer Base: As of June 30, 2026, the Company served more than 905 customers globally, with 54.40% of FY2026 revenue generated from customers associated with the Company for over five years. Its reach is further supported by 22 distributors and multiple domestic stockists.
- Product Failure & Warranty Risk: Any malfunction or failure of fire protection equipment could result in loss of life, property damage, warranty claims or legal action. Despite quality controls and a low replacement rate of just 0.01%, such incidents could negatively affect the Company’s business and reputation.
- Dependence on Overseas Markets: Revenue from outside India contributed 32.78%, 34.69%, 36.24% and 33.33% of revenue from operations for the three months ended June 30, 2026 and FY2026, FY2025 and FY2024, respectively. Adverse economic or business conditions in key export markets, including the Middle East and Rest of Asia, could impact performance.
- Supplier Concentration Risk: The top 10 suppliers accounted for 59.28%, 47.76%, 42.90% and 35.59% of Total Expenses for the three months ended June 30, 2026 and FY2026, FY2025 and FY2024, respectively. Since the Company does not have long-term purchase agreements, any supply disruption or changes in supplier terms could affect operations and costs.
- Harish Narshi Dharamshi
- Kusum Harish Dharamshi
- Miheer Sadanand Ghotikar
- Parika Miheer Ghotikar
- Anik Narendra Dharamshi
HD Fire Protect Limited
Link Intime India Private Limited