HD Fire Protect IPO

IPO details

Subscription status

Updated 14 Oct 2026, 02:00 PM IST

IPO dates

Lot size and application amounts

About HD Fire Protect

HD Fire Protect Limited was incorporated in April 1997. It makes and supplies fire protection equipment and systems based on water, foam and gas fire suppression. The company sells eight product categories: 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. It develops most of its products in house. Its products are used in oil and gas, refining and petrochemicals, power, heavy engineering, aerospace, pharmaceuticals, data centres, hospitality and healthcare. The company supplied 2,066 customers in FY2026. Projects it has supplied include the Samruddhi Mahamarg, the Jamnagar refinery and the new Indian Parliament building. It has exported to more than 90 countries since inception, and to 49 countries in the three months ended 30 June 2026. It was the first Indian maker to get UL Listing for deluge valves, in 1996. As of September 2026 it holds 21 UL Listed and 87 FM Approved product certifications. There are two plants, at Jalgaon and Thane in Maharashtra, covering about 8.50 acres, along with a fire test laboratory and R&D unit. The order book was Rs 158.60 crore as of 30 June 2026. The company had 279 permanent and 253 contractual employees on that date.

HD Fire Protect financials

Key ratios

Strengths

• Revenue from operations grew from Rs 372.95 crore in FY2024 to Rs 489.28 crore in FY2026, a CAGR of 14.54%.
• Profit after tax rose from Rs 87.92 crore in FY2024 to Rs 109.72 crore in FY2025 and Rs 116.79 crore in FY2026.
• EBITDA rose from Rs 106.63 crore in FY2024 to Rs 150.46 crore in FY2026, and profit after tax was Rs 116.79 crore in FY2026 on total income of Rs 505.12 crore.
• The order book stood at Rs 158.60 crore as of 30 June 2026, and the company supplied 2,066 customers in FY2026.
• It holds 21 UL Listed and 87 FM Approved product certifications as of September 2026, and exported to 49 countries in the quarter ended 30 June 2026.
• It runs two plants at Jalgaon and Thane with a fire test laboratory and R&D unit, and develops most products in house.

Risks

• The price band is Rs 258 to Rs 271 and one lot is 55 shares, about Rs 14,905 at the upper band. At Rs 271 the issue is priced at 49.72 times post issue EPS of Rs 5.45.
• The whole issue is an offer for sale of 2,62,84,500 shares by promoters. The company gets no proceeds, so none of the money funds growth or reduces debt.
• The source page shows the net worth row with only three values for four periods, and the figures do not tie to the reserves row, so net worth and debt to equity are not reliable here.
• Promoter holding falls from 100% to 85% after the issue as promoters Harish Dharamshi and Kusum Dharamshi sell shares.
• The source shows EPS of Rs 6.66 before the issue and Rs 5.45 after it, which is 40.69 times and 49.72 times at the upper band. An offer for sale creates no new shares, so the drop looks like a source inconsistency.
• Revenue grew 12% and profit after tax 6% between FY2025 and FY2026, so profit grew slower than sales.
• Products are used in cyclical sectors such as oil and gas, power and heavy engineering, so a slowdown in project spending can affect orders.
• The company depends on UL and FM certifications for its export business, and losing or failing to renew them could hurt sales.

Allotment status

Registrar: MUFG Intime India Private Limited. Check HD Fire Protect IPO allotment status.

FAQs

What is the price band of HD Fire Protect IPO?

₹258–271 per share.

What is the lot size of HD Fire Protect IPO?

55 shares, which costs ₹14,905 at the upper price band.

What is the GMP of HD Fire Protect IPO?

₹91 (+33.58%) as of 14 Oct 2026, 03:00 PM IST. GMP is unofficial and not a prediction of the listing price.

When does HD Fire Protect IPO open and close?

It opens on 13 Oct 2026 and closes on 15 Oct 2026.

When is the allotment date of HD Fire Protect IPO?

16 Oct 2026.

When will HD Fire Protect IPO list?

21 Oct 2026 on BSE, NSE.

How many times was HD Fire Protect IPO subscribed?

12.02x overall.

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