Figures last updated 21 Oct 2026, 9:30 AM IST · How we work · Report an error
At the upper price band of ₹271
From the offer document’s own listed-peer table
The offer price is to be determined through the book-building process, while the company's listed peers in the industrial and capital goods sector traded at P/E multiples ranging from 17.18 to 145.65 with an industry average P/E of 62.95 as of September 30, 2026.
How the size of this issue compares with every IPO in our archive
At ₹712 Cr, HD Fire Protect is a larger issue than 59% of the 719 Mainboard IPOs in our archive that state an issue size (the median is ₹572 Cr).
Of 324 Mainboard IPOs in our archive with an issue of ₹250 Cr to ₹1,000 Cr (listed 2010 to date), 67% opened above the issue price and 27% below. The median opening gain was +7.78%, and the middle half ranged from −0.39% to +30.97%.
This describes how past issues opened, not what this IPO will do: one issue can land far outside the range, the opening price says nothing about what happens afterwards, and past results are not a forecast.
| ₹96.5 |
| 55.7x |
| 16.1% |
| ₹2,754.87 |
| Kirloskar Pneumatic Company LimitedFinancial statements · Consolidated | ₹39.5 | ₹39.4 | ₹192.3 | 17.2x | 20.4% | ₹1,814.46 |
| Elgi Equipment LimitedFinancial statements · Consolidated | ₹13.7 | ₹13.6 | ₹70.4 | 44.7x | 19.3% | ₹4,068.5 |
| Ingersoll-Rand (India) LimitedFinancial statements · Consolidated | ₹81.1 | ₹81.1 | ₹195.0 | 51.4x | 20.4% | ₹1,430.8 |