HD Fire Protect Ltd. IPO Details
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
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 26.3 M | - | - | ₹0 | DRHP DOC |
HD Fire Protect issue details
HD Fire Protect has 26.3 M shares on offer
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
HD Fire Protect IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
HD Fire Protect NUMBER OF SHARES ON OFFER
HD Fire Protect FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 432.8 | 109.5 | 98.3 | 82.4 | 31.9% |
| FY24 | 373.0 | 87.9 | 63.8 | 56.5 | 28.6% |
| FY23 | 324.1 | 70.2 | 53.4 | 34.7 | 27.8% |
HD Fire Protect INFORMATION ON IPO ISSUE
About HD Fire Protect
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
Object of the Issue
- 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
HD Fire Protect - PROMOTERS
| Name |
|---|
| Harish Narshi Dharamshi |
| Kusum Harish Dharamshi |
| Miheer Sadanand Ghotikar |
| Parika Miheer Ghotikar |
| Anik Narendra Dharamshi |
HD Fire Protect - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Harish Narshi Dharamshi | Chairman & Managing Director |
| Miheer Sadanand Ghotikar | Whole-Time Director |
| Parika Miheer Ghotikar | Whole-Time Director |
| Anik Narendra Dharamshi | Whole-Time Director |
| Navin Muthu Ram | Independent Director |
| Sudha Ravi | Independent Director |
| Nagesh Dinkar Pinge | Independent Director |
| Ramesh Chandak | Independent Director |
HD Fire Protect Book Running Lead Manager
Ambit Private Limited
hdfire.ipo@ambit.co
Anand Rathi Advisors Limited
hdfpl.ipo@rathi.com
IIFL Capital Services Limited
hdfire.ipo@iiflcap.com
HD Fire Protect Registrar to the Offer
MUFG Intime India Private Limited
hdfire.ipo@in.mpms.mufg.com
HD Fire Protect Strengths
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
HD Fire Protect Risks
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
IPO FAQs
The promoters of the company are Harish Narshi Dharamshi, Kusum Harish Dharamshi, Miheer Sadanand Ghotikar, Parika Miheer Ghotikar and Anik Narendra Dharamshi.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.