HD Fire Protect Limited will open its initial public offering (IPO) on October 13, 2026. The public issue will close on October 15, while the Anchor Investor bidding will take place on October 12. The price band for the offer has been fixed at ₹258 to ₹271 per equity share with a face value of ₹5 each. Investors can bid for a minimum of 55 equity shares and in multiples of 55 shares thereafter.
The IPO comprises an Offer for Sale (OFS) of up to 26,284,500 equity shares by the promoter selling shareholders. Harish Narshi Dharamshi will offer up to 8,983,700 equity shares, while Kusum Harish Dharamshi will offer up to 17,300,800 equity shares. There is no fresh issue component in the offering. Eligible employees will be entitled to a discount of ₹25 per equity share on bids made under the Employee Reservation Portion.
The equity shares offered through the Red Herring Prospectus are proposed to be listed on BSE Limited and National Stock Exchange of India Limited. BSE will be the designated stock exchange for the offer. The IPO will be conducted through the book-building process in accordance with applicable provisions of the Securities Contracts (Regulation) Rules, 1957, and SEBI regulations.
Not more than 50% of the Net Offer will be available for allocation to Qualified Institutional Buyers (QIBs) on a proportionate basis. Up to 60% of the QIB Portion may be allocated to Anchor Investors on a discretionary basis in consultation with the Book Running Lead Managers and in accordance with SEBI regulations.
Of the Anchor Investor Portion, 40% will be reserved for domestic Mutual Funds and Life Insurance Companies and Pension Funds, subject to valid bids at or above the Anchor Investor Allocation Price. Any unsubscribed portion may be allocated according to the applicable regulatory provisions.
Within the Net QIB Portion, 5% will be available for allocation to Mutual Funds on a proportionate basis, with the balance available to all eligible QIBs, including Mutual Funds. Not less than 15% of the Net Offer will be available to Non-Institutional Bidders (NIBs). Of this portion, one-third will be reserved for bidders with application sizes of more than ₹200,000 and up to ₹1,000,000, while two-thirds will be reserved for applications exceeding ₹1,000,000. Any unsubscribed portion may be allocated to the other NIB sub-category.
Not less than 35% of the Net Offer will be available for allocation to Retail Individual Bidders, subject to valid bids being received at or above the Offer Price. Equity shares will also be available to eligible employees under the Employee Reservation Portion, subject to valid bids.
All bidders other than Anchor Investors are required to use the Application Supported by Blocked Amount (ASBA) process. UPI bidders using the UPI mechanism will be required to provide their UPI ID, with the bid amount blocked through the applicable Sponsor Bank or Self-Certified Syndicate Bank.
Anchor Investors will not be permitted to participate through the ASBA process. The IPO will provide an opportunity for investors to participate in HD Fire Protect through an offer comprising entirely of shares sold by the existing promoter shareholders.
