HD Fire Protect Files for IPO, Complete Offer-for-Sale

New Delhi, September 25, 2025: HD Fire Protect, the manufacturer of fire protective equipment, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise capital through an initial public offering (IPO). The filing is the first step by the company towards a listing in the public market, with the issue solely intended to offer an exit route to its existing promoters.

Headquartered in Mumbai, HD Fire Protect is a leading fire protection system and equipment manufacturer. Its product portfolio encompasses a wide variety of products designed for fire protection, prevention, and safety in sectors such as infrastructure, manufacturing, commercial complexes, and specialized industries. Established with more than four decades of experience, the company is now an integral supplier in the chain of safety equipment, both in domestic as well as international markets.

HD Fire Protect IPO Structure

The issue is wholly an offer-for-sale of 2.63 crore equity shares. Since there is no fresh issue component, the proceeds will also go to the selling shareholders. The company clarified that proceeds from the issue will not be utilised for raising new capital for business growth requirements or debt repayment. The objective is to facilitate the listing of shares on the stock exchanges, bringing liquidity for the shareholders and wider investor participation.

Market Outlook

As per a Crisil report, India’s fire protection equipment industry has expanded at a compound annual growth rate (CAGR) of 11 percent from FY2019 to FY2025 to a size of almost ₹10,200 crore. This growth was higher compared to the global fire protection equipment industry, which expanded at a CAGR of about 7 percent over 2020-2024.

Forward-looking, India’s fire protection market is likely to continue strong growth momentum with an estimated CAGR of 11 – 12 percent from FY2025 to FY2030. By then, the sector might expand to between ₹16,500 crore and ₹17,500 crore, driven by increased infrastructure construction, stringent safety measures, and larger-scale take-up of smart firefighting solutions.

HD Fire Protect IPO Lead Managers

For managing the public issue, the firm has appointed Ambit, Anand Rathi Advisors, IIFL Capital Services, and Equirus Capital as book-running lead managers.

REF: https://www.bseindia.com/corporates/download/370731/IPO Prior/HDFIREPROTECTLTD_20250925013514.pdf

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