HD Fire Protect Limited

Minimum Investments

₹14,190

Price Range

₹258 - ₹271

Issue Size

₹712.31 Cr

Lot Size

55shares

Proceeds of this IPO to be used for

To carry out the offer for sale of up to 26,284,500 equity shares bearing face value of Rs 5 each by the selling shareholders

To achieve the benefits of listing the equity shares on the stock exchanges

Strengths & Weaknesses

Global presence

The company has over 35 years of experience in fire protection equipment, exporting to more than 90 countries, with strong technical expertise, manufacturing capabilities, and a global presence. The industry’s high entry barriers, long certification cycles, stringent regulatory requirements, capital-intensive processes, and established vendor relationships protect its market position and limit competition

Comprehensive equipment & systems portfolio

The company offers a wide range of fire protection equipment and systems across water, foam, and gas-based technologies, serving over 90 countries and diverse sectors such as industrials, aerospace, oil & gas, power, pharmaceuticals, and data centres. It holds three patents and two design registrations, with additional patent applications in the UAE and Turkey, while its diversified presence mitigates industry-specific risks

Advanced design & manufacturing capabilities

The company is a vertically integrated manufacturer managing the full value chain from R&D and design to casting, machining, assembly, testing, painting, and quality control, ensuring high product quality and compliance with global standards. It offers a comprehensive range of fire protection equipment, including sprinklers, deluge and foam systems, monitors, valves, custom-engineered solutions, and gas suppression systems

Inspections & certifications

The company’s operations are governed by stringent regulatory requirements and certifications in India and internationally. Compliance with laws, licenses, and approvals, including ASME U Stamp, CE Marking, UL Listing, FM Approval, and China National Quality Testing Centre certification, is critical, and any failure could adversely affect its operations, reputation, and financial performance

Labour intensive

The company’s labour-intensive operations rely on a large workforce of permanent and contractual employees, making it vulnerable to strikes, wage disputes, workplace hazards, or new labour laws. Disruptions or compliance risks could adversely impact manufacturing continuity, efficiency, cash flows, and overall business performance

Technical know-how

The company’s proprietary technical know-how, including hydraulic calculations, product configuration, and specialised testing methods, is central to its competitive advantage. Any unauthorised use, disclosure, or patent infringement could harm its business, operations, and financial condition

Financials

Income Statement

Also called a profit and loss statement, an income statement shows a company’s income, expenses, and how much profit or loss it has made over a specific accounting period. It provides a clear view of how well the business is running.

Particulars (in Cr)	Jun 2026	Q/Q Change
Operating Revenue	109.05	-
Other Income	5.02	-
Total Income	114.07	-
Total Expenditure	79.33	-
EBIDT	34.74	-
Depreciation	2.21	-
Interest	0.02	-
Tax	8.64	-
Net Profit	23.86	-

Balance Sheet

A balance sheet is a financial statement that details a company’s assets, liabilities, and shareholders’ equity at a given time. It helps assess how financially strong and stable the company is.

Particulars (in Cr)	Mar 2026
Total Current Assets	239.64
Total Non-Current Assets	192.39
Fixed assets	98.56
Total Assets	432.03
Total Current liabilities	52.94
Total Non Current Liabilities	1.94
Total Equity Plus Liabilities	432.03
Total Shareholder Funds	377.15
Total Debt to Equity	0.00%

Cash Flow

Cash flow highlights the cash or cash equivalents moving in and out of a company during a particular period. It provides a clear picture of how well a company manages its cash by tracking its operating, investing and financing activities.

Particulars (in Cr)	Mar 2026
Cash from Operating Activity	92.49
Cash from Financing Activities	-136.06
Cash from Investing Activities	40.97
Net Cash Flow	-2.59

About the Company

HD Fire Protect was incorporated on April 24, 1997. The company is an Indian manufacturer and supplier of fire protection equipment, offering water, foam, and gas-based systems for industrial, commercial, and residential applications. It is the second-largest domestic player by revenue, the largest exporter by value, and serves over 90 countries with over three decades of experience

Promoter
Harish Narshi Dharamshi
Promoter
Kusum Harish Dharamshi
Promoter
Miheer Sadanand Ghotikar
Promoter
Parika Miheer Ghotikar
Promoter
Anik Narendra Dharamshi

FAQs for HD Fire Protect Limited IPO

HD Fire Protect Limited IPO refers to the initial public offering of shares by HD Fire Protect Limited. It is a process by which the company offers its shares to the public for the first time, allowing individuals to become shareholders.

For HD Fire Protect Limited IPO the issue size is ₹712 Cr. The issue size is the total value of the shares offered to the public. It represents the amount the company aims to raise through the IPO.

For HD Fire Protect Limited IPO the minimum investment is ₹14.2 K. The minimum investment for HD Fire Protect Limited IPO is the smallest amount an individual can invest to participate in the offering. It is usually determined by the company and regulatory requirements.

For HD Fire Protect Limited IPO the lot size is 55 shares. The lot size of HD Fire Protect Limited IPO refers to the number of shares that investors need to bid for and purchase in a single transaction. It is predetermined by the company and regulators.

To apply for HD Fire Protect Limited IPO on PhonePe Invest, go to the home page section and click/press on the browse IPOs section to view the open and upcoming IPOs. Select the HD Fire Protect Limited IPO from the list and click on apply now. Place your bids or choose the Cut-off Price option. Enter your UPI ID and set up your mandate to place your application.

Yes, investors can often pre-apply for some of the IPOs. Pre-application allows individuals to express their interest in participating in the IPO before the official subscription period begins. To pre- apply for HD Fire Protect Limited IPO on PhonePe Invest, go to the home page section and click/press on the browse IPOs section to view the open and upcoming IPOs. Select the HD Fire Protect Limited IPO from the list and click on pre-apply now. Once the IPO opens for subscription you can enter your UPI ID and set up your mandate to place your application.

The IPO application window typically remains open for 3 days, starting from the date of the IPO opening. However, this duration can vary depending on the specific IPO and the regulatory requirements.

You can apply for the IPO till 3 PM on the last day of application on PhonePe Invest.

For HD Fire Protect Limited IPO the allotment date is 16 Oct 2026. The allotment date of HD Fire Protect Limited IPO is the date on which shares are allocated to the successful bidders. It marks the distribution of shares to investors.

For HD Fire Protect Limited IPO, the subscription opens on 13 Oct 2026 and closes on 15 Oct 2026. The open and close dates of an IPO indicate the period during which investors can submit their bids to participate in the offering.