HRS Aluglaze IPO opens for subscription from December 11 to December 15, 2025, with allotment on December 16 and listing on BSE SME on December 18, 2025. HRS Aluglaze provides integrated aluminium solutions including design, fabrication, and installation of windows, curtain walls, and cladding for commercial and residential projects, with 28 active projects worth ₹103 crore as of September 2025. The HRS Aluglaze IPO offers exposure to India’s construction and real estate growth, supported by rising demand for premium building materials and infrastructure development.
₹15
₹96
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Expert Opinions
Market sentiment for HRS Aluglaze IPO is cautiously positive, reflecting interest in construction materials amid real estate recovery. Company strengths include integrated aluminium solutions for windows, curtain walls, and cladding, a ₹103 crore order book, and revenue growth of 25% with PAT up 45% in FY 2025. Risks encompass cyclical real estate demand, raw material price volatility, project execution delays, and competition from larger fabricators.
Valuation analysis of HRS Aluglaze IPO in 2025 shows a Return on Equity (ROE) of 34.24%, ROCE of 15.97%, and Net Asset Value (NAV) of ₹14.70, indicating strong equity returns with moderate asset efficiency. Long-term investment perspective favors infrastructure and housing growth, though investors should monitor order conversion and margin stability.
Investor Considerations
HRS Aluglaze IPO investors should note the company’s strong performance, with revenue surging 56% to ₹42.14 crore and PAT rising 188% to ₹5.15 crore in FY 2025, driven by robust order execution. The aluminium fabrication sector outlook is positive, fueled by real estate recovery, infrastructure spending, and premium building material demand. Valuation analysis for HRS Aluglaze IPO in 2025 shows a Price to Book Value of 6.53, PAT Margin of 12.22%, and Debt/Equity ratio of 1.92, reflecting premium pricing with solid profitability but elevated leverage.
Growth prospects include scaling a ₹103 crore order book, new project acquisitions, and geographic expansion. Risks encompass real estate cyclicality, raw material volatility, execution delays, and competition from larger players. Long-term investors may benefit from construction tailwinds, while short-term goals face market volatility.
| Date | GMP | Trend |
|---|---|---|
| 17 Dec 2025 21.07 | ₹15 | --- |
| 14 Dec 2025 14.16 | ₹15 | --- |
| 13 Dec 2025 19.15 | ₹15 | --- |
| 12 Dec 2025 19.29 | ₹15 | --- |
| 11 Dec 2025 19.05 | ₹15 | --- |
FAQs
HRS Aluglaze IPO Current GMP is ₹15.
HRS Aluglaze IPO Expected Returns is 15.63%.
HRS Aluglaze IPO estimated listing price is ₹111.