HD Fire Protect
Price band ₹258–271 · Issue ₹712.31 Cr
Market attention score 39.7 (how ranked)
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Capital required
Approximate retail outlay for HD Fire Protect at the issue price band (lot × lots).
Est. capital
₹14,190 – ₹14,905
Lot size 55 · up to ₹271/share
Prefer smaller tickets before listing? Explore unlisted & pre-IPO shares.
Opens
13 Oct 2026
Closes
15 Oct 2026
Allotment
16 Oct 2026
Listing
21 Oct 2026
Lot size
55
GMP
+26.94%
Overview
HD Fire Protect IPO is a book build issue of ₹712.31 crores. The issue is entirely an offer for sale of 2.63 crore shares of ₹712.31 crore.
HD Fire Protect IPO opens for subscription on Oct 13, 2026 and closes on Oct 15, 2026. The allotment for the HD Fire Protect IPO is expected to be finalized on Oct 16, 2026. HD Fire Protect IPO will list on NSE and BSE with a tentative listing date fixed as Oct 21, 2026.
HD Fire Protect IPO is set issue price band at ₹258 to ₹271 per share. The lot size for an application is 55 shares. The minimum amount of investment required by an individual investor (retail) is ₹14,905 (55 shares) (based on upper price).
Ambit Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to HD Fire Protect IPO RHP for detailed Information.
Issue details
IPO Date
13 to 15 Oct, 2026
Listing Date
Wed, Oct 21, 2026
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
Lot size
| 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 |
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 |
About the company
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.
- 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.
Financials
| Metric | 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 |
Amounts in ₹ Crore (restated)
Key performance indicators
| 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 |
Valuation
Valuation Metric
Pre IPO
EPS (₹)
6.66
P/E (x)
40.69
Market Cap at Offer Price
₹4,748.73 Cr.
Objects of the issue
- ROE — 6.13%
- ROCE — 8.36%
- RoNW — 5.97%
- PAT Margin — 20.92%
- EBITDA Margin — 27.26%
- NAV — 22.82
- P/B (x)
Intermediaries
Registrar
MUFG Intime India Pvt.Ltd.
Lead manager(s)
Ambit Pvt.Ltd., Anand Rathi Advisors Ltd., IIFL Capital Services Ltd.
FAQs
How to apply in HD Fire Protect IPO through Zerodha?+
Zerodha customers can apply online in HD Fire Protect IPO using UPI as a payment gateway. Zerodha customers can apply in HD Fire Protect IPO by login into Zerodha Console (back office) and submitting an IPO application form. Steps to apply in HD Fire Protect IPO through Zerodha Visit the Zerodha 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 Zerodha IPO Application Process Review for more detail.
When HD Fire Protect IPO will open?+
The HD Fire Protect IPO opens on Tue, Oct 13, 2026 and closes on Thu, Oct 15, 2026.
What is the lot size of HD Fire Protect IPO?+
HD Fire Protect IPO lot size is 55 , and the minimum amount required for application is ₹14,905 .
How to apply for HD Fire Protect IPO?+
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 Zerodha , Upstox , 5Paisa , Nuvama , HDFC Bank , and SBI Bank .
When is HD Fire Protect IPO allotment?+
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 .
When is HD Fire Protect IPO listing date ?+
The HD Fire Protect IPO listing date is not yet announced. The tentative date of listing is Wed, Oct 21, 2026 .
Aggregated from public IPO filings. GMP is unofficial grey-market chatter, not advice.