Fire protection equipment manufacturer HD Fire Protect has filed preliminary papers with the SEBI to raise funds via initial public offering (IPO).

The IPO comprises of entirely offer-for-sale of 2.6 crore equity shares by promoters with no fresh issue component, said the company in its draft red herring prospectus filed with the SEBI on September 24.

This clearly meant the entire IPO proceeds will be received by promoters and the company will not receive any funds from the offer.

"The objects of the issue are to carry out the offer-for-sale, and achieve the benefits of listing the equity shares on the stock exchanges," HD Fire Protect said.

Harish Narshi Dharamshi and his wife Kusum will be selling shareholders in the offer-for-sale, holding the largest stake at 56.13 percent and 17.8

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