Archive · 7 Oct 2026
HD Fire Protect Sets ₹258-271 IPO Price Band for ₹712 Crore Offer
HD Fire Protect makes equipment that helps put out fires.
It plans to sell shares to the public in an IPO.
Each share will be offered for between ₹258 and ₹271.
The sale is scheduled to run from October 13 to October 15, with bidding by anchor investors on October 12.
The shares being sold belong to the company’s promoters, Harish and Kusum Dharamshi.
Because this is an offer for sale, the money goes to those sellers, not to the company.
HD Fire Protect makes water-, foam- and gas-based fire protection systems.
One report says it earned ₹117 crore in profit and ₹489 crore in revenue in FY26.
Its shares are expected to list on the BSE and NSE on October 21.
HD Fire Protect set its IPO price band at ₹258-271 per share, with the issue valued at about ₹712 crore at the upper end.
The IPO is scheduled to open October 13 and close October 15; anchor investor bidding is set for October 12.
The offer is entirely an offer for sale of 2.63 crore shares by promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi, so the company will receive no proceeds.
The company makes water-, foam- and gas-based fire suppression systems and operates manufacturing facilities in Maharashtra; the reports cite exports to more than 90 countries.
One report gives FY26 profit of ₹117 crore and revenue of ₹489 crore, and says the shares are expected to list on BSE and NSE on October 21.
- Who
- HD Fire Protect Ltd and its promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi.
- What
- A ₹712-crore IPO, entirely an offer for sale of 2.63 crore shares, with a price band of ₹258-271 per share.
- When
- Subscription is scheduled for October 13-15; anchor bidding is October 12. The reports give October 7 as the announcement/publication date.
- Where
- India; the company is Mumbai-based and operates manufacturing facilities in Maharashtra. Shares are expected to list on the BSE and NSE.
- Why
- The promoters are selling shares through the IPO; the company itself will not receive proceeds. The offer document cites international expansion plans and growing fire-safety demand.
Company and IPO details
Investor considerations
Proceeds from the offer
Company and IPO details
The IPO gives the promoters a route to sell 2.63 crore shares to public investors.
Investor considerations
Because the IPO is entirely an offer for sale, HD Fire Protect will receive no proceeds from it.
Business prospects and reported performance
Company and IPO details
The offer document cites a growing Indian fire protection market, while the company is pursuing expansion in Saudi Arabia, Southeast Asia and other markets; one report records FY26 revenue growth of 13%.
Investor considerations
The articles provide these market projections and performance figures but do not include independent forecasts of future company results or a contrasting analyst assessment.
- Price band
- ₹258-271 per equity share
- Issue size
- About ₹712 crore at the upper price; approximately ₹678 crore at the lower price
- Offer structure
- Offer for sale only; 2.63 crore shares, with no fresh issue
- Selling shareholders
- Harish Narshi Dharamshi and Kusum Harish Dharamshi
- Subscription dates
- October 13-15; anchor investor bidding on October 12
- Expected listing
- October 21 on the BSE and NSE
- FY26 financials
- Profit ₹117 crore, up 6% year on year; revenue ₹489 crore, up 13%, according to one report
- Employee offer
- ₹25 per-share discount for eligible employees bidding in the employee reservation portion, according to one report
