HD Fire Protect Sets October 13 Launch for Estimated ₹750 Crore Maiden IPO

Mumbai-based fire safety solutions provider HD Fire Protect Ltd is set to launch its initial public offering (IPO) on October 13, 2026. The maiden issue, estimated between ₹700 crore and ₹750 crore, will remain open for public bidding until October 15, while anchor book bidding will open for a day on October 12.

The public issue is structured entirely as an Offer for Sale (OFS) of 2.6 crore equity shares (face value of ₹5 each) by the company's promoter group. Because the transaction is a pure OFS, HD Fire Protect will not receive any proceeds from the offering; all net funds will be distributed to the selling shareholders.

The price band and minimum bid lot size are scheduled to be announced ahead of the issue opening. The equity shares will be listed on both the National Stock Exchange (NSE) and the BSE. Ambit Private Limited, Anand Rathi Advisors Limited, and IIFL Capital Services Limited are acting as the book-running lead managers to the issue, while MUFG Intime India Private Limited serves as the registrar.

Key Details of the HD Fire Protect IPO

• Issue Opening Date: October 13, 2026
• Issue Closing Date: October 15, 2026
• Anchor Bidding Date: October 12, 2026
• Estimated Issue Size: ₹700 crore – ₹750 crore
• Issue Structure: 100% Offer for Sale of 2.6 crore equity shares
• Face Value: ₹5 per share
• Lead Managers: Ambit, Anand Rathi Advisors, IIFL Capital Services

Business Operations and Strategic Footprint

Incorporated in 1997, HD Fire Protect develops, designs, and manufactures a wide range of industrial fire protection equipment and systems. Its product catalog spans water-, foam-, and gas-based suppression hardware, including deluge valves, high-velocity water spray nozzles, deluge skids, fire monitors, foam proportioning systems, and fire sprinklers.

The company operates two key manufacturing facilities in Maharashtra—situated at Thane MIDC and Jalgaon MIDC—covering a combined area of approximately 8.5 acres. It serves clients across heavy engineering, aerospace, petrochemicals, pharmaceuticals, commercial real estate, power generation, and emerging infrastructure like data centres and modern logistics hubs.

HD Fire Protect has supplied systems to several landmark domestic and international infrastructure assets, including:

• Master stream nozzle systems installed at the Indian Space Research Organisation's launch complex in Sriharikota.
• Dedicated fire protection installations for India's new Parliament building in New Delhi.
• Industrial fire suppression systems at the world's largest refining hub in Jamnagar.
• International deployments, including deluge valves for Saudi Aramco’s Ras Tanura facility and equipment for Oman’s Integrated Power & Water Plant Project.

Financial Profile and Global Expansion

For the financial year ended March 31, 2025 (FY25), HD Fire Protect recorded revenue from operations of ₹432.8 crore. Operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached ₹141.02 crore, delivering an operating EBITDA margin of 32.56%, while profit after tax (PAT) stood at ₹109.55 crore.

As part of its international growth roadmap, the company is targeting capacity and market expansion in the Gulf Cooperation Council (GCC) and Southeast Asia. The company plans to establish a local manufacturing and trading footprint in Saudi Arabia over the next one to two years through a shortlisted regional partner, subject to local regulatory clearances, to tap into growing infrastructure budgets and stricter safety compliance requirements.

Tags: HD Fire Protect BSE NSE SEBI Industrial Manufacturing Primary Market