HD Fire Protect Shares Make Strong Debut, Stock Lists With Over 23% Premium

Shares of HD Fire Protect made their debut in the stock market on October 21, 2026, with a premium of more than 23 per cent over the upper end of the price band.

On the NSE, the shares were listed at Rs 335 per share, with a premium of 23.61 per cent above the upper end of the price band of Rs 271. On the BSE, the stock made its debut at Rs 334 apiece, with a premium of 23.24 per cent over the issue price.

HD Fire Protect IPO: Listing Day Profit

Applicants who were successfully allotted a minimum of one lot or 55 shares of HD Fire Protect would have made a profit of around Rs 3,520 [(Rs 335 - Rs 271) x 55] after the stock listed on the exchanges. The company’s market capitalisation stood at Rs 5,401.46 crore after listing, and 1.27 million shares of the company changed hands.

HD Fire Protect IPO: Offer Size

The initial public offering (IPO) of HD Fire Protect was a book-built issue worth Rs 712.13 crore and consisted entirely of an offer for sale (OFS) of 26.3 million shares amounting to Rs 712.13 crore. There was no fresh issue component.

The price band for the public issue was fixed at Rs 258-271 per share. The minimum lot size for retail investors was fixed at 55 shares, aggregating to an investment of Rs 14,905.

HD Fire Protect IPO: Subscription

The IPO saw strong demand and was oversubscribed 131.70 times during its subscription period from October 13 to October 15. Investors across categories placed bids for 2.42 billion shares compared to the net offer size of 18.42 million shares available.

Non-institutional investors (NIIs) booked their quota in the IPO 203.21 times. In this category, 3.93 million shares were offered, and bids were received for 790 million shares.

Retail investors booked their quota 30.49 times, bidding for 279.77 million shares against the 9.17 million shares offered. The qualified institutional buyer (QIB) quota was subscribed 256.65 times, receiving bids for 1.34 billion shares against the 5.24 million shares offered. Employees of the company booked their quota 23.61 times, applying for 1.67 million shares compared to the 71,138 shares offered for subscription.

HD Fire Protect: Promoters

The promoters of the company, Harish Narshi Dharamshi and Kusum Harish Dharamshi, diluted a portion of their stakes through the OFS. Following the listing of the stock, the promoter shareholding reduced to about 85 per cent, down from 100 per cent prior to the public issue.

HD Fire Protect: Competitors

HD Fire Protect's listed peers in the domestic market include Ksb, Kirloskar Pneumatic, Elgi Equipments, and Ingersoll-rand.

HD Fire Protect IPO: Objective

Since the HD Fire Protect IPO is a complete Offer for Sale (OFS), the company will not receive any funding, and the entire IPO proceeds will go to the selling shareholders.