HD Fire Protect IPO
Market Sentiment
IPO Details
IPO Reservation
Return Estimator (GMP*)
Financial Analysis
| Metric | 2024 | 2025 | 2026 | June 2026 |
|---|---|---|---|---|
| Revenue | 392.02 | 450.68 | 505.12 | 114.07 |
| Expense | 275.67 | 303.96 | 349.14 | 81.56 |
| Profit (PAT) | 87.92 | 109.55 | 116.79 | 23.87 |
| Total Assets | 392.63 | 4,500.82 | 432.03 | 477.60 |
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Azad Engineering Limited | 20.57 | 145.65 | 8.74 | 236.74 | 648.63 Cr |
| KSB Limited | 15.54 | 55.68 | 16.11 | 96.46 | 2,754.87 Cr |
| Kirloskar Pneumatic Company Limited | 39.45 | 17.18 | 20.36 | 192.25 | 1,814.46 Cr |
| Elgi Equipment Limited | 13.65 | 44.70 | 19.28 | 70.41 | 4,068.50 Cr |
| Ingersoll-Rand (India) Limited | 81.10 | 51.39 | 20.36 | 195.04 | 1,430.80 Cr |
Promoters: Harish Narshi Dharamshi, Miheer Sadanand Ghotikar, Parika Miheer Ghotikar and Anik Narendra Dharamshi
Strengths & Risks
- Solid profit margin — 23.1%.
- Strong return on equity — 30%.
Our data checks haven't flagged a specific concern for HD Fire Protect so far — but that isn't a clean bill of health. Read the risk-factors section of the RHP, which lists company-specific risks our data can't capture.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Founded in April 1997, HD Fire Protect is one of the leading manufacturers and suppliers of fire protection equipment and systems, including Water-based, Foam-based, and Gas-based fire suppression solutions. The firm provides a wide range of fire-protection products and systems, divided into 8 main categories, including sprinklers, alarm valves and accessories, deluge valves and systems, foam equipment and suppression systems, monitors and nozzles, water spray nozzles, custom-engineered systems, and gas suppression systems. Its product range serves a wide range of industries such as industrial, residential, and commercial applications, including oil and gas, refining and petrochemicals, power and energy, heavy engineering, aerospace, pharmaceuticals, data centres, hospitality, healthcare, and other sectors. The firm has over 30 years of experience exporting its products to over 90 countries. HD Fire Protect operates its manufacturing facilities in Jalgaon and Thane, Maharashtra, spanning 8.50 acres of land.
HD Fire Protect Ltd., O-611,, 6th Floor, Runwal R Square,, Opp. Veena Nagar, L. B. S. Marg, Mulund West,, Mumbai, Maharashtra, 400080
Resources & Documents
HD Fire Protect has fixed the issue price at Rs 271 per share. The Mainboard issue is scheduled to open for subscription on October 13, 2026 — 6 days from now.
Founded in April 1997, HD Fire Protect is one of the leading manufacturers and suppliers of fire protection equipment and systems, including Water-based, Foam-based, and Gas-based fire suppression solutions. The firm provides a wide range of fire-protection products and systems, divided into 8 main categories, including sprinklers, alarm valves and accessories, deluge valves and systems, foam equipment and suppression systems, monitors and nozzles, water spray nozzles, custom-engineered systems, and gas suppression systems.
The issue is promoted by Harish Narshi Dharamshi, Miheer Sadanand Ghotikar, Parika Miheer Ghotikar and Anik Narendra Dharamshi with Ambit Pvt.Ltd., Anand Rathi Advisors Ltd., IIFL Capital Services Ltd. acting as lead manager.
On fundamentals, the company is posting revenue growth of 12.1%, a profit margin of 23.1%, return on equity of 30.2% in its most recent reported period. Listed peers in this segment include Azad Engineering Limited (P/E 145.65x) and KSB Limited (P/E 55.68x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
All figures below — GMP history, subscription tiers, financials and peers — are aggregated from public disclosures. Always apply through your own broker after reading the RHP.
HD Fire Protect IPO GMP — What It Means
No active grey market premium has been recorded for HD Fire Protect IPO yet. GMP is an unofficial, dealer-quoted indicator of expected listing-day demand — not a guaranteed listing price — and it can change quickly once bidding opens.
See the full HD Fire Protect GMP history and trend, or learn how grey market premium works and how reliable it is.
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