HD Fire Protect Limited, an Indian manufacturer and supplier of fire protection equipment and systems, plans to raise ₹711 Cr through an IPO.
[Fresh Issue NIL + OFS ₹108 Cr]
Hd fire protect ipo price: ₹258–₹271 per share
HD Fire Protect: History
The Company was incorporated as D.H. Fire Protect Private Limited under the Companies Act, 1956, on April 24, 1997.
It was then converted into a public limited company on June 6, 2025, under a special resolution passed by the shareholders.
The Company changed its name to HD Fire Protect Limited, and the RoC issued a fresh certificate of incorporation on June 19, 2025.
HD Fire Protect: Business
HD Fire Protect Limited supplies and manufactures fire protection equipment and systems in India.
The Company offers a comprehensive product range spanning water, foam, and gas-based fire suppression systems (also known as fire fighting products).
The Company’s offerings are spread across 8 product categories, namely,
- Sprinklers, Alarm Valves, and Accessories,
- Deluge Valves, Deluge Skids, and Pre-Action Systems,
- Foam Equipment and Suppression Systems,
- Monitors and Monitor Nozzles,
- System Valves and Accessories,
- Water Spray Nozzles,
- Custom Engineered Systems, and
- Gas Suppression Systems.
The Company develops the majority of the products in-house with proprietary designs to meet national and international standards.
In addition to in-house production, the company also undertakes contract manufacturing of “off-the-shelf products” as well as “white labelling” to cater to diverse client requirements.
According to the CRISIL Report, HD Fire Protect Ltd was the second-largest manufacturer of fire protection equipment and systems in India (in terms of revenue from operations in FY24).
Usage
The products of the company are used in sectors such as aerospace, data centres, heavy engineering, oil & gas, refining and petrochemicals, power & energy, pharmaceuticals, and warehousing, amongst others.
As of September 2026, the company had 21 UL Listed and 87 FM Approved product certifications.
Manufacturing Facilities
The Company operates two manufacturing facilities in Thane and Jalgaon (Maharashtra, India), covering an area of 8.50 acres, supported by a fire test laboratory, R&D centre, and warehouse infrastructure.
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Export Footprint
HD Fire Protect has a significant export footprint, supplying products to 49 countries in Q1 FY27 and more than 90 countries through FY26.
Key export destinations of the company include Brazil, Malaysia, Saudi Arabia, UAE, Turkey, and Indonesia.
Strategies Ahead
Focus on product innovation, portfolio expansion, and scaling technological capabilities.
Capacity expansion at Jalgaon and Thane facilities.
Enhance product credibility through international approvals and other global certifications.
Expanding geographic presence internationally through strategic global partnerships.
Company Promoters
- Harish Narshi Dharamshi,
- Kusum Harish Dharamshi,
- Miheer Sadanand Ghotikar,
- Parika Miheer Ghotikar,
- Anik Narendra Dharamshi.
Refer to HD fire Protect Limited DRHP for more details.
IPO Detail
ipo date: 13 Oct – 15 Oct 2026
Minimum Amount: ₹14,905
Minimum Bid: 55 Shares
Face Value: INR 5 per share
Listing On: NSE, BSE
Financial
Book Running Lead Managers
Ambit Private Ltd
Anand Rathi Advisors
IIFL Capital Services
CONCLUSION
Considering financial performance and the nature of the business, FinBlab recommends a ‘MAY SUBSCRIBE’ rating for the HD Fire Protect Limited IPO.
Do come back to learn more about “upcoming IPOs”.
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