HD Fire Protect IPO: Saudi Aramco supplier to raise ₹712 crore at price band of ₹258-₹271 per share; issue opens Oct 13

HD Fire Protect Ltd., a manufacturer and supplier of fire protection equipment and systems, is set to launch its ₹712.31 crore initial public offering (IPO) on October 13, with the issue closing on October 15, 2026. The Maharashtra-based company has fixed the price band at ₹258-₹271 per share.

The IPO is entirely an offer for sale (OFS) of 2.63 crore shares, with no fresh issue component. Accordingly, the company will not receive any proceeds from the public issue, with the entire amount going to the selling shareholders.

The lot size for the IPO is 55 shares, and retail investors will need to invest a minimum of ₹14,905 at the upper end of the price band. The IPO is proposed to be listed on both the NSE and BSE, with the allotment expected to be finalised on October 16 and the tentative listing date set for October 21.

As per the draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (Sebi), the company has reserved 50% of the net issue for qualified institutional buyers (QIBs), 35% for retail investors and the remaining 15% for non-institutional investors (NIIs).

About HD Fire Protect IPO

Incorporated in April 1997, HD Fire Protect manufactures and supplies fire protection equipment and systems, offering water-, foam- and gas-based fire suppression solutions. The company has a portfolio spanning eight product categories, including 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.

Its products cater to industrial, residential and commercial applications across sectors such as oil and gas, refining and petrochemicals, power and energy, heavy engineering, aerospace, pharmaceuticals, data centres, hospitality and healthcare.

HD Fire Protect operates two manufacturing facilities in Jalgaon and Thane, Maharashtra, spread across approximately 8.50 acres. The facilities are supported by a fire test laboratory and research and development capabilities.

The company has more than three decades of experience and has exported its products to over 90 countries since inception, including 49 countries during the three months ended June 30, 2026.

HD Fire Protect supplied fire protection equipment and systems to 2,066 customers in FY26 and has executed supplies for projects including the Samruddhi Mahamarg, Jamnagar refinery, the new Indian Parliament building, Saudi Aramco's Ras Tanura Sea Island site and Oman's Integrated Power & Water Plant Project.

Revenue rises 14.5% CAGR over FY24-FY26

HD Fire Protect's revenue from operations increased from ₹372.95 crore in FY24 to ₹489.28 crore in FY26, translating into a CAGR of 14.54%.

The company's total income rose to ₹505.12 crore in FY26 from ₹450.68 crore in FY25, while profit after tax increased to ₹116.79 crore from ₹109.72 crore. EBITDA stood at ₹150.46 crore in FY26, compared with ₹138.01 crore a year earlier.

On a year-on-year basis, revenue increased 12% and profit after tax rose 6% between FY26 and FY25.

For the three months ended June 30, 2026, HD Fire Protect reported total income of ₹114.07 crore and profit after tax of ₹23.87 crore, while EBITDA stood at ₹29.73 crore. The company's order book stood at ₹158.60 crore as of June 30, 2026.

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