HD Fire Protect fixes Rs 258-271 price band for Rs 712 crore IPO; opens October 13, lists October 21

Mumbai-based fire protection equipment maker HD Fire Protect fixed the price band for its IPO at Rs 258-271 per equity share on 7 October 2026, valuing the company at nearly Rs 4,750 crore at the upper end. The Rs 712.13 crore issue will open for subscription on October 13 and close on October 15, with anchor bidding on October 12, allotment finalisation on October 16 and listing on the BSE and NSE on October 21.

The issue is entirely an offer-for-sale of 2.63 crore equity shares by promoter shareholders Harish Narshi Dharamshi (89.83 lakh shares, Rs 243.46 crore) and Kusum Harish Dharamshi (1.73 crore shares, Rs 468.85 crore) — so HD Fire Protect itself will not receive any proceeds. The minimum bid is 55 shares, making the minimum retail investment Rs 14,905 at the cap price, with a Rs 25 per share discount for eligible employees.

The company designs and manufactures water, foam and gas-based fire suppression systems, running two manufacturing facilities in Maharashtra and exporting to 90+ countries, including customers like Saudi Aramco. Domestic business contributed 65 per cent of revenue and international markets 35 per cent in FY26, when profit rose 6 per cent to Rs 117 crore on revenue of Rs 489 crore, serving 2,066 customers. Ambit, Anand Rathi Advisors and IIFL Capital Services are the book-running lead managers. HD Fire Protect had filed its DRHP in September 2025 and received SEBI's nod in January 2026.