Major Institutional Investors Participate in Anchor Round
The company allotted approximately 78.64 lakh equity shares to institutional investors at ₹271 per share, the upper end of the price band. Investors participating in the anchor round included Bajaj Life Insurance, Axis Max Life Insurance, Allianz Global Investors Fund and several domestic mutual funds.
Domestic mutual funds received approximately 71.88% of the total anchor allocation, highlighting their substantial participation ahead of the public issue.
HD Fire Protect IPO: Key Details
The public issue is valued at approximately ₹712 crore and comprises an offer for sale (OFS) of around 2.63 crore equity shares by promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi.
Since the IPO consists entirely of an OFS, HD Fire Protect will not receive the proceeds from the share sale. The money, after applicable expenses and taxes, will go to the selling shareholders. At the upper price band, the company’s implied market valuation is approximately ₹4,750 crore.
IPO at a Glance
- Company: HD Fire Protect Ltd
- IPO size: Approximately ₹712 crore
- Anchor investment: ₹213.11 crore
- Price band: ₹258–₹271 per share
- IPO opening date: October 13, 2026
- IPO closing date: October 15, 2026
- Expected listing date: October 21, 2026
- Listing exchanges: BSE and NSE
- Issue type: Offer for sale (OFS)
What Does HD Fire Protect Do?
HD Fire Protect designs and manufactures fire protection equipment and systems, including water-, foam- and gas-based fire suppression solutions. Its customers operate across sectors such as oil and gas, refining, petrochemicals, power, pharmaceuticals, aerospace, data centres and warehousing.
The company operates two manufacturing facilities in Maharashtra and serves both domestic and international markets. Its equipment has been used in major infrastructure and industrial projects in India.
Financial Performance Shows Revenue Growth
For the financial year ended March 2026, HD Fire Protect reported revenue of ₹489.3 crore, up from ₹432.8 crore in the previous financial year. Net profit increased by approximately 6.4% to ₹116.8 crore from ₹109.7 crore.
For the quarter ended June 2026, the company reported revenue of ₹109 crore and net profit of ₹23.8 crore. These figures provide investors with an overview of the company’s recent financial performance ahead of the IPO.
What Should Investors Know?
The anchor investment indicates participation by institutional investors, but it does not guarantee strong listing gains or future share-price performance. Investors should review the company’s financial statements, valuation, risk factors and IPO documents before making an investment decision.
Another important point is that this is an OFS-only issue. Unlike a fresh issue, it will not directly raise new capital for HD Fire Protect’s expansion or operations.
Conclusion: HD Fire Protect’s ₹213.11 crore anchor investment marks an important step ahead of its ₹712 crore IPO. With the public issue opening on October 13, investors will be watching subscription demand, valuation and the company’s financial outlook as the offering progresses.