IPO Alerts: HD Fire Protect Files Draft Papers With SEBI

HD Fire Protect, a Mumbai-based fire protection equipment manufacturer, has submitted draft papers to SEBI for an initial public offering (IPO). The issue will consist entirely of an offer-for-sale of 2.63 crore equity shares by its promoters. Since there is no fresh issue component, the company itself will not receive any proceeds from the IPO.

Promoter Shareholding

The selling shareholders in the offer include Harish Narshi Dharamshi, who currently holds 56.13 percent, and his wife Kusum Dharamshi with 17.83 percent. The objective of the offer is to provide liquidity to promoters and enable listing of the company’s shares on the stock exchanges.

Company Profile

Headquartered in Mumbai, HD Fire Protect has been engaged in the business of manufacturing fire protection equipment for over four decades. Its product range covers water, foam, and gas-based fire suppression systems. The company serves industries such as infrastructure, manufacturing, and commercial establishments through two manufacturing facilities in Maharashtra.

Expansion Projects

In addition to its existing facilities, the company is setting up a new production unit and warehouse in Thane. It is also expanding its Jalgaon facility with a fire test laboratory, an industrial warehouse, and a research and development centre. These projects are scheduled to be completed by March 2026.

Business Operations

Alongside in-house production, HD Fire Protect undertakes contract manufacturing for other companies. It also produces off-the-shelf products that are white-labelled and supplied to various markets, both in India and abroad.

Financials Performance

For the year ended March 2025, the company reported a profit of ₹109.5 crore, up 24.6% from ₹87.9 crore in the previous year. Revenue during the same period rose by 16% to ₹432.8 crore, compared to ₹373 crore in FY24.

Ambit, Anand Rathi Advisors, IIFL Capital Services, and Equirus Capital have been appointed as the book-running lead managers for the IPO.

Read More: Upcoming IPOs This Week: 11 Mainboard and 17 SME IPOs Set to Open!

Conclusion

HD Fire Protect’s IPO is structured solely as a share sale by promoters. The listing will not bring fresh capital to the company but will provide an exit route for existing shareholders.

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