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NSE, BSE
HD Fire Protect Ltd
Listed
Mumbai-based maker of fire protection equipment such as sprinklers, valves, and foam and gas suppression systems, exporting to 90+ countries.
Issue details
Price band
₹258 – ₹271
Face value
₹5
Lot size
55 shares
Minimum investment
₹14,905
Issue size
₹712.13 Cr
Fresh issue
—
Offer for sale
₹712.13 Cr
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
13 Oct 2026
Closes
15 Oct 2026
UPI mandate cut-off
5:00 PM on 15 Oct 2026
Allotment
16 Oct 2026
Refunds
19 Oct 2026
Shares in demat
19 Oct 2026
Listing
21 Oct 2026
Subscription and listing
Subscription
131.73x
Listing price
₹335
Registrar
MUFG Intime India Pvt Ltd
Lead manager
Ambit, Anand Rathi Advisors, IIFL Capital Services
Subscription by category
QIB (Ex Anchor)
256.65x
NII
203.21x
bNII (> ₹10L)
236.17x
sNII (< ₹10L)
137.28x
Retail
30.55x
Employee
23.61x
Total
131.73x
Total applications
45,70,728
Anchor investors
Amount raised
₹213.11 Cr
Bid date
12 Oct 2026
50% lock-in ends
14 Nov 2026
Rest lock-in ends
13 Jan 2027
Listing day
Issue price
₹271
Open
₹335.00
High
₹340.00
Low
₹301.50
Day close
₹306.75
Listing gain at open
+23.62%
Issue structure
Shares reserved per category and share of the total issue
QIB
1,31,06,680
49.86%
Anchor Investor
78,64,008
29.92%
QIB (Ex. Anchor)
52,42,672
19.95%
NII
39,32,005
14.96%
bNII > ₹10L
26,21,337
9.97%
sNII < ₹10L
13,10,668
4.99%
Retail
91,74,677
34.91%
Employee
71,138
0.27%
Total
2,62,84,500
100.00%
Finaccle’s quick read
Avoid
Strong margins (PAT margin 23.12%, ROE 30.17%) but the ₹712 Cr issue is 100% OFS by promoters, FY26 PAT grew only about 6%, and post-issue P/E is 49.72x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
HD Fire Protect is a Mumbai-based maker of fire protection equipment such as sprinklers, alarm and deluge valves, foam systems, monitors and nozzles, and gas suppression systems. It manufactures at Jalgaon and Thane, served 2,066 customers in FY26 and has exported to more than 90 countries. It earned about ₹505 Cr in FY26 with a PAT margin above 20%.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
30.17%
ROCE
40.33%
Debt / equity
—
PAT margin
23.12%
P/E post issue
49.72
Market cap
₹4,748.73 Cr
Use of IPO money
Offer for sale; company receives no proceeds
₹712.13 Cr
Strengths
✓
High margins: EBITDA 30.75% and PAT 23.12% in FY26
✓
ROE of 30.17% and ROCE of 40.33%
✓
Broad fire-safety product range with exports to 90+ countries
✓
Long track record since 1997
Risks to watch
!
Entire ₹712 Cr issue is OFS by promoters
!
Post-issue P/E of 49.72x and P/B of 12.63x
!
PAT growth slowed to about 6% in FY26
!
Demand tied to construction and industrial capex cycles
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.