HD Fire IPO Description – HD Fire is a leading Indian manufacturer of fire protection equipment and systems, with a diversified portfolio spanning water, foam, and gas-based fire suppression solutions. With over 35 years of operating history, it has established itself as the second-largest domestic player by operating income in Fiscal 2024 and the largest exporter by value from India in the same year, according to CRISIL. As of Fiscal 2025, the company exported to more than 90 countries, reflecting strong global acceptance and compliance with stringent international standards.

The company designs and develops the majority of its products in-house, supported by a vertically integrated manufacturing model covering casting, machining, fabrication, assembly, testing, and quality control. Its product portfolio spans eight categories, including sprinklers, deluge valves, foam systems, monitors, custom-engineered skids, and gas suppression systems, serving high-hazard industrial sectors such as oil & gas, petrochemicals, power, aerospace, data centres, and infrastructure, alongside residential and commercial applications. It holds the highest number of UL Listed and FM Approved certifications among Indian peers, along with ASME-U, CE, VdS, and other global approvals, creating high entry barriers for competitors.

Manufacturing operations are spread across two facilities in Jalgaon and Thane, Maharashtra, covering 8.5 acres, with ongoing capacity expansion and the addition of a dedicated fire test laboratory and R&D centre targeted for completion by March 2026. As of 31 March 2025, the company had 261 permanent employees.

Promoters of HD Fire – Harish Narshi Dharamshi, Kusum Harish Dharamshi, Miheer Sadanand Ghotikar, Parika Miheer Ghotikar, Anik Narendra Dharamshi

HD Fire IPO Details

HD Fire IPO Allocation in Different Categories

HD Fire Financial Performance

	FY 2023	FY 2024	FY 2025
Revenue	324.08	372.95	432.80
Expenses	240.50	275.67	303.96
Net Income	70.23	87.92	109.55
Margin (%)	21.67	23.57	25.31

HD Fire Offer News

HD Fire Valuations & Margins

	FY 2023	FY 2024	FY 2025 (Pre-Issue)	FY 2025 (Post-Issue)
EPS	3.99	5.01	6.25	–
PE Ratio	–	–	–	–

	FY 2023	FY 2024	FY 2025
RONW (%)	25.59	25.69	27.67
Price/Book Ratio
Current Ratio
Price/Sales Ratio
NAV	15.30	19.49	22.59
ROCE (%)	33.59	37.61	39.64
EBITDA (%)	27.75	28.59	31.89
Debt/Equity	–	–	–

Evaluate the quality of an IPO using these essential investing ratios to make an informed decision.

HD Fire IPO Anchor Investors

HD Fire raises () from anchor investors. HD Fire Anchor bid date is ().

Bid Date	Coming soon
Shares Offered	Coming soon
Anchor Portion (INR Cr.)	Coming soon
Anchor lock-in period end date for 50% shares (30 Days)	Coming soon
Anchor lock-in period end date for remaining shares (90 Days)	Coming soon

HD Fire IPO GMP Today (Daily Trend)

HD Fire IPO Subscription – Live Updates

Coming soon

() shares allotted to anchor investors are not included in these calculations.

HD Fire – Comparison With Listed Peers

Company	PE ratio	EPS	RONW (%)	NAV	Revenue (Cr.)
HD Fire	–	6.25	27.67	22.59	450.68
Azad Engineering	104.37	14.66	6.21	233.94	467.95
KSB Limited	58.08	14.22	16.66	85.34	2,569.84
Kirloskar Pneumatic	37.52	32.48	19.27	169.09	1,662.42
Elgi Equipment	42.59	11.08	18.96	58.43	3,568.10

HD Fire IPO Allotment Status

You can check HD Fire IPO allotment status on MUFG Intime India website. Click on this link to get the allotment status. Often not getting IPO allotment? Learn how to improve your IPO allotment chances.

HD Fire IPO Dates & Listing Performance

IPO Opening Date	Coming soon
IPO Closing Date	Coming soon
Finalization of Basis of Allotment	Coming soon
Initiation of refunds	Coming soon
Transfer of shares to demat accounts	Coming soon
HD Fire IPO Listing Date	Coming soon
Opening Price on NSE	Coming soon
Closing Price on NSE	Coming soon

HD Fire IPO Reviews – Subscribe or Avoid?

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HD Fire IPO Lead Manager

AMBIT PRIVATE LIMITED
Ambit House, 449, Senapati Bapat Marg, Lower Parel,
Mumbai – 400013 Maharashtra, India
Tel: +91 (22) 6623 3030
Email: [email protected]
Website: www.ambit.co

HD Fire Offer Registrar

MUFG INTIME (LINK INTIME) INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Tel: +91 810 811 4949
Email: [email protected]
Website: www.in.mpms.mufg.com

HD FIRE PROTECT LIMITED
Plot No. D-6/2, Road No. 34, Wagle Estate,
Thane – 400 604, Maharashtra, India
Tel: +91 (22) 35287000
E-mail: [email protected]
Website: www.hdfire.com

IPO Resources

How many shares in HD Fire IPO are reserved for HNIs and retail investors?

The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.

How to apply in HD Fire Public Offer?

What is HD Fire IPO GMP today?

HD Fire IPO GMP today is INR NA per share.

What is HD Fire kostak rate today?

HD Fire kostak rate today is INR NA per application.

What is HD Fire Subject to Sauda rate today?

HD Fire Subject to Sauda rate today is INR NA per application.

Krishna comes from a family of investors and financial analysts, She learnt wading through regulatory filings pretty early in her career. She has several years of experience in financial and industry analysis under her belt. At IPO Central, Krishna plays twin roles of Contributor and Head of research desk.