HD Fire Protect IPO price band fixed at ₹258-271; issue opens October 13

Mumbai-based HD Fire Protect, a manufacturer of fire protection equipment and systems, has fixed the price band for its initial public offering at ₹258-₹271 per equity share. The public issue will open for subscription on October 13 and close on October 15.Investors can bid for a minimum of 55 shares and in multiples thereof. At the upper end of the price band, the company is looking to raise ₹712.13 crore through the IPO.The issue is entirely an offer for sale of 2.62 crore equity shares by promoter shareholders Harish Narshi Dharamshi and his wife Kusum Dharamshi.

Since there is no fresh issue of shares, HD Fire Protect will not receive any proceeds from the IPO. The issue is primarily aimed at providing an exit opportunity to the selling shareholders and facilitating the listing of the company's equity shares.The anchor investor bidding will open on October 12, a day ahead of the public issue. At the upper end of the price band, HD Fire Protect is expected to have a post-listing market capitalisation of ₹4,748.73 crore.Of the shares on offer, 50% has been reserved for qualified institutional buyers , 15% for non-institutional investors and the remaining 35% for retail investors.HD Fire Protect had filed its draft red herring prospectus with the Securities and Exchange Board of India in September 2025, and received regulatory approval for the IPO in January 2026.The company operates two manufacturing facilities in Maharashtra and makes fire protection products and systems using water, foam and gas-based suppression technologies.In fiscal 2026, HD Fire Protect supplied its products and systems to 2,066 customers across India and overseas markets. Domestic customers accounted for 65% of its business, while international markets contributed the remaining 35%.The company reported a profit of ₹23.8 crore and revenue of ₹109 crore for the quarter ended June 2026.For the financial year ended March 2026, profit rose 6.4% year-on-year to ₹116.8 crore, while revenue increased 13% to ₹489.3 crore from the previous year.Ambit, Anand Rathi Advisors and IIFL Capital Services are the merchant bankers to the issue.The IPO allotment is expected to be finalised on October 16, with the company's shares likely to list on the BSE and NSE on October 21.