Minimum Investment
About Company
Company Name: HRS Aluglaze Limited
Industry / Sector: Construction Materials / Aluminium & Glass Systems
Founded Year: 2012
Promoters: Hitesh Shah, Rakesh Shah
HRS Aluglaze Limited specializes in designing, manufacturing, and installing aluminium architectural products such as windows, doors, curtain wall systems, glazing structures, and cladding solutions. The company delivers end-to-end façade and glazing services to builders, architects, contractors, and commercial infrastructure developers.
IPO Basic Details
| Company Name | HRS Aluglaze Limited |
| IPO Type | SME IPO |
| Price Band | ₹94 – ₹96 |
| Lot Size | 1200 |
| Total Issue Size | ₹50.92 Cr |
IPO Strengths & Risks
Strengths
- Integrated design-to-installation service model
- Advanced CNC manufacturing equipment
- Established client relationships with builders and contractors
- Growing demand from commercial and infrastructure projects
Risks
- Dependence on construction and real estate sector growth
- Raw material price fluctuations
- Project execution delays
- Competition from established façade system manufacturers
IPO Important Dates
| IPO Open Date | 11 Dec 2025 |
| IPO Close Date | 15 Dec 2025 |
| Basis of Allotment | 16 Dec 2025 |
| Refund Initiation | 17 Dec 2025 |
| Demat Credit Date | 17 Dec 2025 |
| Listing Date | 18 Dec 2025 |
| Anchor Investor Date | 10 Dec 2025 |
| UPI Mandate Deadline | 15 Dec 2025 |
IPO Objectives
- Capital expenditure for machinery and equipment – Expansion of manufacturing facility and additional plant infrastructure
- Funding working capital requirements – Working capital requirements
- Debt repayment – N/A
- General corporate purposes – General corporate purposes and issue expenses
Investor Reservation
| QIB Quota | 46.90% |
| Retail Quota | 33.67% |
| HNI Quota | 14.25% |
| Employee Quota | - |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 lots | 2400 | ₹2,30,400 |
| Retail Maximum | 2 lots | 2400 | ₹2,30,400 |
| S-HNI Minimum | 3 lots | 3600 | ₹3,45,600 |
| S-HNI Maximum | 8 lots | 9600 | ₹9,21,600 |
| B-HNI Minimum | 9 lots | 10800 | ₹10,36,800 |
Key Performance Indicators (KPI)
| ROE | 34.24% |
| ROCE | 15.97% |
| RoNW | 34.24% |
| PAT Margin | 12.22% |
| EBITDA Margin | 25.42% |
| EPS | ₹3.68 |
| NAV per share | ₹17.61 |
| Debt to Equity | 1.92 |
| P/E Ratio | 26.07x |
| Industry P/E | 30x |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| 31 Mar 2023 | ₹49 Cr | ₹30 Cr | ₹2.2 Cr | ₹6.1 Cr | ₹7.3 Cr | ₹13 Cr |
| 31 Mar 2024 | ₹70 Cr | ₹36 Cr | ₹3.7 Cr | ₹8.5 Cr | ₹10 Cr | ₹18 Cr |
| 31 Mar 2025 | ₹82 Cr | ₹42.14 Cr | ₹5.15 Cr | ₹10.70 Cr | ₹14 Cr | ₹25 Cr |
| 30 Sep 2025 | ₹91.16 Cr | ₹26.35 Cr | ₹4.54 Cr | ₹8.45 Cr | ₹17 Cr | ₹29 Cr |
Grey Market Premium
| GMP Price | ₹22 |
| Kostak Rate | N/A |
| Subject to Sauda | N/A |
| Last Updated | Dec 2025 |
| Estimated Listing Price | ₹118 |
IPO Subscription Data
| Total Subscription | 42x |
| QIB (Ex Anchor) | 19.48x |
| HNI Subscription | 60.50x |
| Retail Subscription | 49.54x |
| Anchor | - |
IPO Intermediaries
Registrar: Purva Sharegistry (India) Pvt. Ltd.
Registrar Website: https://www.purvashare.com
IPO Lead Manager(s)
Company Information
Address: Village Rajoda, Bavla, Ahmedabad, Gujarat, India
Website: https://www.hrsaluglaze.com
Email: info@hrsaluglaze.com
Phone: +91 7926306595
IPO Documents
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