HRS Aluglaze IPO
GMP, Subscription, Price, Dates & Financial Details
Aluminium Products
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,…
Open Date
Thu, 11 Dec 2025
Close Date
Mon, 15 Dec 2025
Price Band
₹ 94 – 96
Lot Size
1200
Issue Size
₹ 50.92 Cr
Minimum Investment
₹ 230,400 (2400 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
HRS Aluglaze IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹50.92 Crore, comprising a fresh issue of 53.04 Lakh equity shares aggregating to ₹50.92 Crore.
The HRS Aluglaze IPO remained open for subscription from December 11, 2025, to December 15, 2025. The basis of allotment was finalized on December 16, 2025, and the company's shares were listed on BSE SME Platform on December 18, 2025.
The company had fixed the price band at ₹94 to ₹96 per share, with a lot size of 1200 shares. Retail investors were required to make a minimum investment of ₹230,400 (based on the upper price band) to apply for one lot.
Purva Sharegistry India Pvt Ltd served as the registrar to the issue. Cumulative Capital Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, HRS Aluglaze Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
HRS Aluglaze IPO Timeline (Tentative)
- IPO Open Date
- Thu, 11 Dec 25
- IPO Close Date
- Mon, 15 Dec 25
- Basis of Allotment
- Tue, 16 Dec 25
- Initiation of Refunds
- Wed, 17 Dec 25
- Credit of Shares to Demat
- Wed, 17 Dec 25
- Listing Date
- Thu, 18 Dec 25 — NSE & BSE
Open Date
11 December 2025
Close Date
15 December 2025
Basis Of Allotment
16 December 2025
Listing Date
18 December 2025
IPO Subscription
Check Live Subscription →The HRS Aluglaze IPO has received bids for 17,89,39,200 shares against 39,85,200 shares offered, resulting in an overall subscription of 44.9x. the NII category is subscribed 82.49x, Retail Investors 49.54x, and QIBs 19.48x.
QIB
19.48x
NII
82.49x
RII
49.54x
Total
44.9x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 17,85,600 shares, representing 44.81% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 14,43,600 shares (36.22%), while Non-Institutional Investors (NIIs) receive 7,56,000 shares (18.97%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 1,443,600 | 36.22% |
| Non-Institutional | 756,000 | 18.97% |
| BNII | 504,000 | 12.65% |
| SNII | 252,000 | 6.32% |
| Retail Investors | 1,785,600 | 44.81% |
| Total | 3,985,200 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
HRS Aluglaze Limited KPI Information
| 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 |
| Pat Margin % | 12.22 | 6.69 | 3.85 |
Peers Comparison
| 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 |
About HRS Aluglaze Limited
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.
HRS Aluglaze IPO Promoters
- Rupesh Pravinbhai Shah
- Pinky Rupesh Shah
- Hrishikesh Rupesh Shah
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
72.49%
HRS Aluglaze IPO Objective
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
HRS Aluglaze Limited Address / Contact Details
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
HRS Aluglaze IPO Lot Size
The HRS Aluglaze IPO has a lot size of 1,200 shares. Retail investors require a minimum investment of ₹2,30,400 by applying for 2 lot (2,400 shares). The maximum application allowed for the retail category is 2 lots (2,400 shares), requiring an investment of ₹2,30,400.
| 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 |
Issue Reservation
- QIB — 36.22%
- NII — 18.97%
- RII — 44.81%
Book Running Lead Managers
- Cumulative Capital Private Limited
IPO Documents & Links
Explore More IPOs
Currently Open
Coming Up Next
Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the HRS Aluglaze IPO?
HRS Aluglaze IPO is a Book-building IPO with a total issue size of ₹50.92 crore. The HRS Aluglaze IPO price band is ₹94 to 96 per share. The HRS Aluglaze IPO subscription opens on Thu, Dec 11, 2025, and closes on Mon, Dec 15, 2025. The HRS Aluglaze IPO will be listed on the BSE. Purva Sharegistry India Pvt Ltd is the registrar for the HRS Aluglaze IPO.
When will the HRS Aluglaze IPO open for subscription?
The HRS Aluglaze IPO opens on Thu, Dec 11, 2025 and closes on Mon, Dec 15, 2025
What is HRS Aluglaze IPO Price Band?
HRS Aluglaze IPO Price Band is ₹94 to 96 per share.
What is HRS Aluglaze IPO Lot Size?
HRS Aluglaze IPO lot size is 1200 shares, Retail investors need a minimum investment of ₹230400 based on the upper price band
What is the minimum investment for HRS Aluglaze IPO?
The minimum investment for HRS Aluglaze IPO is ₹230400, based on one lot of 1200 shares at the upper price band of ₹96 per share.
How to apply for HRS Aluglaze IPO?
Investors can apply for the HRS Aluglaze IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Mon, Dec 15, 2025. The application amount remains blocked until the HRS Aluglaze IPO allotment is finalized.
What is HRS Aluglaze IPO Issue Size?
HRS Aluglaze IPO issue size is ₹50.92 crores.
What is the HRS Aluglaze IPO Allotment Date?
HRS Aluglaze IPO allotment date is Tue, Dec 16, 2025.
Who is the HRS Aluglaze IPO Registrar?
The registrar for HRS Aluglaze IPO is Purva Sharegistry India Pvt Ltd. Investors can go to Purva Sharegistry India Pvt Ltd website to check HRS Aluglaze IPO allotment status, refund processing, and other IPO-related information.
What is the HRS Aluglaze IPO GMP?
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 22.92% over the issue price.
Who is the HRS Aluglaze IPO Lead Manager?
The book-running lead managers (BRLMs) for the HRS Aluglaze IPO are Cumulative Capital Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the HRS Aluglaze IPO Red Herring Prospectus (RHP).