HRS Aluglaze IPO
HRS Aluglaze IPO Details
-
Open Date
11 Dec 2025
-
Close Date
15 Dec 2025
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Listing Date
18 Dec 2025
- IPO Price Range
₹ 94 to ₹96
- IPO Size
₹ 50.92 Cr
- Listing Exchange
BSE SME
HRS Aluglaze IPO Timeline
HRS Aluglaze IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 11-Dec-2024 | 1.08 | 0.17 | 0.40 | 0.60 |
| 12-Dec-2025 | 1.08 | 1.51 | 2.69 | 1.89 |
| 15-Dec-2025 | 19.48 | 82.13 | 49.54 | 44.83 |
Last Updated: 18 December 2025 2:41 PM by 5paisa
HRS Aluglaze Ltd is an Ahmedabad-based company specialising in aluminium doors, windows, curtain walls, and facade glazing for the construction sector. It operates an integrated model offering design, fabrication, and installation services for commercial, residential, industrial, and institutional projects. The company has shown solid financial growth, with FY25 revenue of ₹42.11 crore and PAT of ₹5.15 crore. It filed its IPO on the BSE SME platform to use all proceeds for expansion. It is recognised for receiving repeat orders from a well-known client base.
Established in: 1989
Managing Director: Rupesh Pravinbhai Shah
HRS Aluglaze Objectives
1. Funding capital expenditure to set up assembly & glass glazing line at Rajoda, Ahmedabad for facade work (₹18.3 Cr)
2. Funding of working capital requirements of the Company (₹19 Cr)
3. General corporate purposes
HRS Aluglaze IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹50.92 Cr |
| Offer For Sale | - |
| Fresh Issue | ₹50.92 Cr |
HRS Aluglaze IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 2,25,600 |
| Retail (Max) | 2 | 2,400 | 2,30,400 |
| S-HNI (Min) | 3 | 3,600 | 3,38,400 |
| S-HNI (MAX) | 8 | 9,600 | 9,21,600 |
| B-HNI (Min) | 9 | 10,800 | 10,36,800 |
HRS Aluglaze IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 19.48 | 14,43,600 | 2,81,24,400 | 269.994 |
| Non-Institutional Buyers | 82.13 | 7,56,000 | 6,20,88,000 | 596.045 |
| bNII (bids above ₹10L) | 98.16 | 5,04,000 | 4,94,71,200 | 474.924 |
| sNII (bids below ₹10L) | 50.07 | 2,52,000 | 1,26,16,800 | 121.121 |
| Individual Investors (IND category bidding for 2 Lots) | 49.54 | 17,85,600 | 8,84,52,000 | 849.139 |
| Total** | 44.83 | 39,85,200 | 17,86,64,400 | 1,715.178 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 22.55 | 26.69 | 42.11 |
| EBITDA | 1.75 | 3.53 | 10.70 |
| PAT | 0.87 | 1.79 | 5.15 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 34.09 | 42.43 | 80.60 |
| Share Capital | 6.53 | 6.53 | 6.68 |
| Total Liabilities | 34.09 | 42.43 | 80.60 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities | -2.07 | 1.46 | 2.89 |
| Net Cash Generated From / (used in) Investing Activities | -17.1 | -6.74 | -19.62 |
| Net Cash Generated From / (used in) Financing Activities | 19.14 | 5.21 | 16.84 |
| Net Increase (Decrease) in Cash and Cash Equivalents | -0.02 | -0.08 | 0.11 |
Strengths
1. The company has shown strong revenue and profit growth in recent years.
2. Its integrated model covers design, fabrication, and installation for construction projects.
3. High profitability ratios, including ROE and EBITDA margin.
4. All IPO proceeds are allocated for expansion, supporting future growth.
Weaknesses
1. The order book does not guarantee future revenue due to possible delays or cancellations.
2. Lacks long-term contracts and relies on short-term purchase orders.
3. It is vulnerable to payment delays or reductions in customer orders.
4. The SME platform listing may limit its investor reach.
Opportunities
1. Expansion plans funded by IPO proceeds could drive significant growth.
2. Rising demand for aluminium and glass solutions in the construction sector.
3. The company has the potential to diversify its client base and increase market share.
4. Upgrades in technology and execution can further enhance operational efficiency.
Threats
1. Intense competition exists in the building materials and facade sector.
2. Project delays or cancellations can negatively impact profitability.
3. A significant portion of revenue depends on a few key clients.
4. Macroeconomic factors like interest rates and construction slowdowns may affect demand.
1. HRS Aluglaze Ltd has shown strong financial growth, with a 56% revenue increase and 188% PAT growth in the latest fiscal year.
2. The company boasts robust profitability, with ROE of 34.24% and EBITDA margin of 25.42%, indicating efficient operations.
3. All IPO proceeds are allocated for expansion and working capital, supporting future growth initiatives.
4. Its integrated model and repeat orders from marquee clients provide a stable foundation for sustained business expansion.
HRS Aluglaze Ltd enters the market with a strong foundation in aluminium and glass solutions for the construction industry, serving a diverse clientele across commercial, residential, and institutional projects. Its integrated design-to-installation model, robust financial growth, and repeat orders from marquee clients position the company for sustained expansion. With all IPO proceeds allocated for growth and rising demand for facade and fenestration solutions, HRS Aluglaze demonstrates solid long-term potential in the evolving building materials sector.
- Companies
- Type
- Opening On
-
Bharat Coking Coal
- Mainboard
- 09th Jan
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FAQs
HRS Aluglaze Ltd IPO opens from December 11, 2025 to December 15, 2025.
The size of HRS Aluglaze Ltd IPO is ₹50.92 Cr.
The price band of HRS Aluglaze Ltd IPO is fixed at ₹94 to ₹96 per share.
To apply for HRS Aluglaze Ltd IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the HRS Aluglaze Ltd IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of HRS Aluglaze Ltd IPO is of 2,400 shares and the investment required is ₹2,30,400.
The share allotment date of HRS Aluglaze Ltd IPO is December 16, 2025
The HRS Aluglaze Ltd IPO will likely be listed on 18 December 2025.
Cumulative Capital Private Limited is the book running lead manager for HRS Aluglaze Ltd IPO.
HRS Aluglaze Ltd IPO plans to utilise the raised capital from the IPO for:
1. Funding capital expenditure to set up assembly & glass glazing line at Rajoda, Ahmedabad for facade work (18.3 Cr)
2. Funding of working capital requirements of the Company (19 Cr)
3. General corporate purposes
