Shares of HD Fire Protect, a manufacturer of fire protection equipment, made a strong debut on the stock exchanges on Wednesday, listing at a premium of nearly 24 per cent over the issue price of ₹271 apiece, before paring gains.

The stock opened at ₹335 on the NSE, marking a premium of 23.62 per cent. Later, it traded at ₹306.75, down 8.43 per cent from its listing price.

On the BSE, the shares made a debut at ₹334.40, up 23.39 per cent over the issue price, before trading at ₹304.70, down by 8.88 per cent from the opening level.

Following the listing, the company's market capitalisation stood at ₹5,284.06 crore on the NSE and ₹5,276.18 crore on the BSE.

Meanwhile, the 30-share BSE Sensex climbed 413.15 points, or 0.56 per cent, to 74,266.05, while the broader NSE Nifty gained 88 points, or 0.38 per cent, to 22,976.95 in morning trade.

The ₹712-crore Initial Public Offering (IPO) of HD Fire Protect Ltd was subscribed 131.70 times on the final day of bidding on Thursday.

The company had fixed a price band of ₹258-271 per share for the offering. The Mumbai-based company's IPO was entirely an offer for sale of 2.63 crore equity shares by promoters.

HD Fire Protect designs and manufactures fire protection equipment and systems, including water, foam and gas-based fire suppression solutions. It operates two manufacturing facilities in Maharashtra and serves sectors such as oil and gas, refining, petrochemicals, power, pharmaceuticals, aerospace, data centres and warehousing.

The company has supplied fire protection equipment for several prominent projects, including the new Parliament building, the country's largest refinery in Jamnagar and installations at the space launch facility in Sriharikota.

Published on October 21, 2026