HRS Aluglaze IPO Details
The key details of HRS Aluglaze’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹50.92 Cr |
| Price Range | ₹94 - ₹96 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | -- |
| Listing at | BSE |
| Minimum Quantity | 2,400 |
| Investment (cut-off price) | ₹2,30,400 |
| Pre IPO Promotor Holding | 100% |
| Post IPO Promotor Holding | 72.49% |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
HRS Aluglaze IPO Timelines
The IPO process for HRS Aluglaze includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
11/12/2025
Start Date15/12/2025
End Date17/12/2025
Refund Initiation17/12/2025
Credit of Shares to Demat Ac18/12/2025
Listing DateHRS Aluglaze IPO Lot Size
The HRS Aluglaze IPO has a fixed lot size of 1,200 shares, at an upper price band of ₹96 per share. For retail investors, the minimum and maximum application is 2,400 shares (2 lots) amounting to ₹2,30,400. For Small HNI (S-HNI) investors, the minimum application is 3,600 shares (3 lots) worth ₹3,45,600, while the maximum is 9,600 shares (8 lots) amounting to ₹9,21,600. Big HNI (B-HNI) investors need to apply for at least 10,800 shares (9 lots), totaling ₹10,36,800.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2400 | ₹2,30,400 |
| Retail Maximum | 2 | 2400 | ₹2,30,400 |
| S-HNI Minimum | 3 | 3600 | ₹3,45,600 |
| S-HNI Maximum | 8 | 9600 | ₹9,21,600 |
| B-HNI Minimum | 9 | 10800 | ₹10,36,800 |
HRS Aluglaze IPO Subscription Status
The subscription status for HRS Aluglaze IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 1.08x | 1.51x | 2.69x | -- | 1.89x |
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ |
HRS Aluglaze IPO Company Financials
HRS Aluglaze reports robust performance in FY2026 September with Total Income of ₹26.35 crores, managing expenses at ₹20.23 crores, and achieving a strong PAT (Profit After Tax) of ₹4.54 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹22.69 | ₹21.48 | ₹0.87 |
| FY 2024 | ₹26.97 | ₹24.57 | ₹1.79 |
| FY 2025 | ₹42.14 | ₹35.27 | ₹5.15 |
| FY 2026 (6 M) | ₹26.35 | ₹20.23 | ₹4.54 |
About Company
HRS Aluglaze Ltd, incorporated in 2012, specializes in the design, manufacturing, and installation of aluminium-based products such as windows, doors, curtain walls, cladding, and glazing systems. The Company serves builders, contractors, architects, and institutions with both standard and customized solutions, along with material supply and procurement support. Its manufacturing facility at Village Rajoda, Taluka Bavla, Ahmedabad, spans 11,176 square meters and is equipped with CNC precision machinery and powder-coating capabilities, with an additional 13,714-square-meter expansion planned.
As of September 30, 2025, HRS Aluglaze Ltd had 28 active projects and employed approximately 90 personnel across skilled, semiskilled, and unskilled roles. Its offerings include doors and windows; curtain walls and structural glazing; glass railings, partitions, louvers, and screens; cladding and dynamic façades; as well as comprehensive material supply and procurement support.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2012 | Aluminium | Shah Rupesh |
Know Before Investing
HRS Aluglaze IPO Strengths
- HRS Aluglaze offers end-to-end services including design, fabrication, assembly, and installation of aluminium windows, doors, curtain walls, structural glazing, cladding, and façade systems, increasing client stickiness.
- The firm caters to reputed developers and institutional clients across commercial, residential, industrial, and institutional projects, supported by strong in-house design and execution capabilities.
- Demand for premium façades, glazing, and energy-efficient building envelopes is rising with urbanization and higher-grade commercial and residential projects.
- Revenue nearly doubled from about ₹22.55 crore in FY23 to ₹42.11 crore in FY25, while PAT rose almost six-fold from ₹0.87 crore to ₹5.15 crore, indicating sharp operating leverage.
HRS Aluglaze IPO Risks
- Revenue depends on winning and executing construction-related projects; slowdown in real estate or capex cycles could impact order inflows and cash flows.
- Façade and glazing projects require significant upfront material procurement and labour before milestone payments, leading to stretched receivable cycles and higher working capital needs.
- Operations and the new assembly line are concentrated around Ahmedabad and nearby regions, exposing the company to region-specific economic or regulatory shocks.
- Dependence on a limited number of large real-estate and institutional clients means loss or slowdown from a few customers can materially affect revenues.
- Project execution involves design coordination, site conditions, and third-party dependencies; delays or cost overruns can erode margins and affect reputation.
- Aluminium, glass, and related hardware prices can fluctuate; inability to fully pass on cost increases to clients may compress margins.
Swot Analysis for HRS Aluglaze IPO
Strengths
End-to-End Aluminium Solutions, Integrated Design-to-Execution Model, Healthy Financial Performance
Weaknesses
Order Book Uncertainty, High Working Capital Intensity, Geographical Concentration
Opportunities
Real Estate & Infra Growth, Green & Energy-Efficient Buildings, Pan-India and Export Expansion
Threats
Real Estate Cyclicality, Raw Material Volatility, Regulatory & Compliance Changes
Company 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, 380058
Phone: +91 79 26306595
Email: info@hrsaluglaze.com
Website: http://www.hrsaluglaze.com/
IPO Registar Details
Purva Sharegistry (India) Pvt. Ltd.
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query
FAQs
The key objectives of HRS Aluglaze SME IPO are:
- 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
Cumulative Capital Pvt. Ltd. is the book-running lead managers for the HRS Aluglaze IPO.
HRS Aluglaze IPO shows strong growth potential backed by a ₹103 crore order book, only about 35% capacity utilisation, and rising demand for modern energy efficient façades. Planned investments in a new assembly and glazing line plus additional working capital can boost execution speed, revenue scale, and market reach.
The issue price for the HRS Aluglaze IPO is set between ₹94 to ₹96 per share.
To invest in two lot of HRS Aluglaze IPO, you need ₹2,25,600 at the lower price band (₹94 per share) or ₹2,30,400 at the upper price band (₹96 per share) for a lot size of 2,400 shares.
HRS Aluglaze IPO shares are scheduled to be listed on the Bombay Stock Exchange (BSE) on December 18, 2025.
Refund/unblocking of funds for HRS Aluglaze IPO will begin on December 17, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your HRS Aluglaze IPO shares on listing day (December 18, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.