HRS Aluglaze IPO
Open SmeCurrent GMP
₹22 (+22.92%)
Price Band
₹ 94 – 96
Lot Size
1200
Issue Size
₹50.92 Cr
Minimum Investment
₹230400 (2400 Shares)
Listing Date
18 December 2025
Subscription
44.9x
About the Company
HRS Aluglaze Ltd, incorporated in 2012, is engaged in the design, manufacturing, and installation of aluminium-based architectural products. Its offerings include windows, doors, curtain walls, cladding, glazing systems, and other façade solutions.
The Company serves builders, contractors, architects, and institutions, providing both standard and customized aluminium and glass solutions. It also offers material supply and procurement support, catering to diverse project requirements.
Manufacturing Facility
HRS Aluglaze Ltd operates a manufacturing facility located at Village Rajoda, Taluka Bavla, Ahmedabad, Gujarat, spread across 11,176 square meters. The plant is equipped with CNC precision machinery, powder coating facilities, and other modern equipment to support high-quality production.
An additional expansion area of 13,714 square meters, adjoining the current facility, has been proposed to enhance manufacturing capacity.
Operational Status
As of September 30, 2025, the Company is executing 28 active projects across various regions and industry segments.
Product & Service Offerings
- Doors and Windows
- Curtain Walls and Structural Glazing
- Glass Railings, Partitions, Louvers, and Screens
- Cladding and Dynamic Façades
- Material Supply and Procurement Support
Human Resources
As of September 30, 2025, HRS Aluglaze Ltd employed approximately 90 personnel, comprising skilled, semi-skilled, and unskilled workers across multiple operational and administrative functions.
Promoters
- Rupesh Pravinbhai Shah
- Pinky Rupesh Shah
- Hrishikesh Rupesh Shah
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
72.49%
Objects of the Issue
The Company HRS Aluglaze IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding capital expenditure to set up assembly & glass glazing line at Rajoda, Ahmedabad for façade work
- Funding of Working Capital requirements of the Company
- General Corporate Purposes
Address / Contact Info
HRS Aluglaze Ltd.
601 W-1, 6th Floor, New York Timber Street
Opp. PSP House, B/H. S.G. Highway,
Ambali Road, Jodhpur
Ahmedabad, Gujarat
Phone: +91 79 26306595
Email: info@hrsaluglaze.com
Website: http://www.hrsaluglaze.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Thursday, 11 December 2025
IPO Close Date
Monday, 15 December 2025
Basis of Allotment
Tuesday, 16 December 2025
Initiation of Refunds
Wednesday, 17 December 2025
Credit of Shares to Demat
Wednesday, 17 December 2025
Listing Date
Thursday, 18 December 2025 — NSE & BSE
Important Dates
Open Date
11 December 2025
Close Date
15 December 2025
Basis Of Allotment
16 December 2025
Listing Date
18 December 2025
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 91.16 | 80.6 | 42.43 | 34.1 |
| Revenue | 26.35 | 42.14 | 26.97 | 22.69 |
| Profit After Tax | 4.54 | 5.15 | 1.79 | 0.87 |
| Net Worth | 24.61 | 20.11 | 9.96 | 8.17 |
| Reserve & Surplus | 10.66 | 13.45 | 3.46 | 1.67 |
| Total Borrowings | 41.04 | 38.66 | 24.35 | 17.91 |
EPS Pre
3.68%
EPS Post
4.71%
P/E Pre
26.07
P/E (Post Issue)
20.40x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|
| ROE % | 34.24 | 19.71 | 18.92 |
| ROCE % | 15.97 | 10.58 | 6.88 |
| Debt / Equity | 1.92 | 2.45 | 2.19 |
| RoNW % | 34.24 | 19.71 | 18.92 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 12.22 | 6.69 | 3.85 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 1443600 | 36.22 | 0 |
| Non-Institutional | 756000 | 18.97 | 0 |
| BNII | 504000 | 12.65 | 0 |
| SNII | 252000 | 6.32 | 0 |
| Retail Investors | 1785600 | 44.81 | 0 |
| Total | 3985200 | 100 | 0 |
Subscription Status ( Mon, 15 Dec 25 01:55 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 1443600 | 28124400 | 19.48x |
| Non-Institutional | 756000 | 62362800 | 82.49x |
| Retail Investors | 1785600 | 88452000 | 49.54x |
| Total | 3985200 | 178939200 | 44.9x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| HRS Aluglaze Limited | 10 | 0.00 | 3.25 | 3.25 | 20.28 | 17.61 |
| Innovators Facade Systems Ltd | 10 | 73.02 | 2.78 | 2.78 | 3.19 | 88.43 |
| Aluwind Infra-Tech Ltd | 10 | 39.22 | 2.04 | 2.04 | 8.15 | 26.06 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 230,400.00 |
| Retail (Max) | 2 | 2,400 | 230,400.00 |
| S-HNI (Min) | 3 | 3,600 | 345,600.00 |
| S-HNI (Max) | 8 | 9,600 | 921,600.00 |
| B-HNI (Min) | 9 | 10,800 | 1,036,800.00 |
Registrar
Purva Sharegistry India Pvt Ltd
91 22 3522 0056 , 91 22 4961 4132
support@purvashare.com
https://www.purvashare.com
Book Running Lead Managers
- Cumulative Capital Private Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
HRS Aluglaze IPO is a Book-building IPO worth ₹50.92 crores. The price band is ₹94 to 96 per share. The IPO opens on Thu, Dec 11, 2025 and closes on Mon, Dec 15, 2025. It will be listed on BSE and NSE. Purva Sharegistry India Pvt Ltd is the registrar.
The HRS Aluglaze IPO opens on Thu, Dec 11, 2025 and closes on Mon, Dec 15, 2025
HRS Aluglaze IPO Price Band is ₹94 to 96.
HRS Aluglaze IPO lot size is 1200, and the minimum amount required for application is ₹230400.
The minimum investment for HRS Aluglaze IPO is approximately ₹230400 based on the upper price band.
To apply for the HRS Aluglaze IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Mon, Dec 15, 2025. After submission, funds are blocked until the basis of allotment of HRS Aluglaze IPO is finalised.
HRS Aluglaze IPO issue size is ₹50.92 crores.
HRS Aluglaze IPO allotment date is Sat, Jun 27, 2026.
The registrar for HRS Aluglaze IPO is Purva Sharegistry India Pvt Ltd. Investors can go to Purva Sharegistry India Pvt Ltd website for IPO allotment status, refund processing, and other queries related to HRS Aluglaze IPO through their official website or helpline.
The HRS Aluglaze IPO GMP (Grey Market Premium) is ₹22 as of Thu, Dec 18, 2025. Based on the upper price band of ₹96 per share, the estimated HRS Aluglaze IPO listing price is ₹118, indicating a potential listing gain of approximately 31% over the issue price.