HD Fire Protect IPO sets price band at ₹258-₹271 per share; check lot size and key dates

The ₹721.31 crore HD Fire Protect IPO, which will open on October 13, has set a price band of ₹258-₹271 per share. The issue will conclude on October 15.

The initial public offering is solely an offer for sale (OFS) component of 2.63 crore shares by promoters Harish Narshi Dharamshi and Kusum Harish Dharamshi.

As there is no fresh issue component, the company will not receive any proceeds from the offer. The money raised will go to selling shareholders.

"Our company expects that listing of the equity shares will enhance our visibility and brand image and provide liquidity and a public market for the equity shares in India," the firm said in its red herring prospectus.

HD Fire Protect IPO: Lot size

Retail investors can apply for at least 55 shares and in multiples thereof. Half of the net offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

HD Fire Protect IPO allotment and listing date

Mumbai-based HD Fire Protect designs and makes various fire protection equipment and systems spanning foam, gas and water-based fire suppression solutions.

It has two manufacturing facilities in Maharashtra and serves customers in sectors like industrials, oil and gas, refining and petrochemicals, heavy engineering, aerospace, power and energy, data centres, pharmaceuticals and warehousing.

It supplies products for several projects in domestic and overseas markets. These include fire protection equipment at the country's largest refinery in Jamnagar, master stream nozzle installations at India's space launch pad in Sriharikota, fire protection equipment for the new Parliament building, fire protection equipment for Oman's Integrated Power & Water Plant Project and deluge valves for Saudi Aramco's Ras Tanura Sea Island project.

Anand Rathi Advisors, IIFL Capital Services and Ambit are the issues book-running lead managers.