HRS Aluglaze IPO
HRS Aluglaze IPO
Overview
HRS Aluglaze IPO is a book build issue of ₹50.92 crores. The issue is entirely a fresh issue of 0.53 crore shares of ₹50.92 crore. HRS Aluglaze IPO opens for subscription on Dec 11, 2025 and closes on Dec 15, 2025. The allotment for the HRS Aluglaze IPO is expected to be finalized on Dec 16, 2025. HRS Aluglaze IPO will list on BSE SME with a tentative listing date fixed as Dec 18, 2025. HRS Aluglaze IPO price band is set at ₹94.00 to ₹96.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹2,30,400.00 (2,400 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (3,600 shares), amounting to ₹3,45,600. Cumulative Capital Pvt.Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Mnm Stock Broking Pvt.Ltd..
Total Shares
53,04,000
Issue Size
₹50.92 Cr
Price Band
₹94 – ₹96
Lot Size
1200 shares
Min. Investment
₹2,30,400
Max. Investment
₹2,30,400
Open Date
11 Dec, 2025
Close Date
15 Dec, 2025
Allotment
16 Dec, 2025
Listing
18 Dec, 2025
Max. Investment
₹2,30,400
Announced
11 Dec, 2025
Opening Date
11 Dec, 2025
Closing Date
15 Dec, 2025
Basis of Allotment
16 Dec, 2025
Initiation of Refunds
17 Dec, 2025
Credit of Shares
17 Dec, 2025
Listing Date
18 Dec, 2025
Live GMP
Est. Listing: ₹115
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About HRS Aluglaze IPO
Incorporated in 2012, HRS Aluglaze Ltd is engaged in the design, manufacturing, and installation of aluminium products, including windows, doors, curtain walls, cladding, and glazing systems.
The Company provides standard and customized solutions to builders, contractors, architects, and institutions, along with material supply and procurement support.
The manufacturing facility is located at Village Rajoda, Taluka Bavla, Ahmedabad, Gujarat, with an area of 11,176 square meters, e
HRS Aluglaze IPO Share Price
Issue Breakdown
Shareholding
Dilution: 37.9% increase in shares
HRS Aluglaze IPO Financial Health
HRS Aluglaze Ltd.'s revenue increased by 56% and profit after tax (PAT) rose by 188% between the financial year ending with March 31, 2025 and March 31, 2024.
HRS Aluglaze IPO Lot Size
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2400 | ₹2,30,400 |
| Individual investors (Retail) (Max) | 2 | 2400 | ₹2,30,400 |
| S-HNI (Min) | 3 | 3600 | ₹3,45,600 |
| S-HNI (Max) | 8 | 9600 | ₹9,21,600 |
| B-HNI (Min) | 9 | 10800 | ₹10,36,800 |
(All values in CR)
HRS Aluglaze IPO Valuations
KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROE | 34.24 |
| ROCE | 15.97 |
| Debt/Equity | 1.92 |
| RoNW | 34.24 |
| PAT Margin | 12.22 |
| EBITDA Margin | 25.42 |
| Price to Book Value | 6.53 |
(All values in CR)
HRS Aluglaze IPO Strength & Risk
HRS Aluglaze IPO Strength:
Provides aluminium architectural products and façade solutions for commercial and residential projects.
Offers end-to-end services including design, fabrication, supply, and installation.
Has in-house manufacturing capabilities enabling better quality control and customization.
Serves a sector with long-term demand driven by real estate and infrastructure growth.
Shows improving operational performance with growing customer demand.
IPO funding supports capacity expansion, new assembly lines, and working capital needs.
HRS Aluglaze IPO Risk:
Highly dependent on the real estate and construction sectors, making business cyclical.
Working-capital-intensive operations may face cash-flow pressures if projects are delayed.
Faces competition from other façade, glazing, and aluminium fabrication companies.
Expansion projects carry execution risks related to cost, timelines, and efficiency.
SME listing may have lower liquidity and higher volatility post-listing.
Geographic concentration of clients may expose the company to regional market downturns.
HRS Aluglaze IPO Subscriptions Status
HRS Aluglaze IPO subscribed 44.83 times. The public issue subscribed 49.54 times in the individual investors category, 19.48 times in QIB (Ex Anchor), and 82.13 times in the NII category by December 15, 2025 6:19:39 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 10,44,000 | 10,44,000 | 10.022 |
| Market Maker | 1.00 | 2,74,800 | 2,74,800 | 2.638 |
| QIB (Ex Anchor) | 19.48 | 14,43,600 | 2,81,24,400 | 269.994 |
| Non-Institutional Buyers | 82.13 | 7,56,000 | 6,20,87,999 | 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 | 49.54 | 17,85,600 | 8,84,52,000 | 849.139 |
| Total | 44.83 | 39,85,200 | 17,86,64,400 | 1 |
HRS Aluglaze IPO GMP
HRS Aluglaze SME IPO last GMP is ₹19, last updated Dec 15th 2025 05:54 PM. With the price band of 96.00, HRS Aluglaze SME IPO's estimated listing price is ₹115 (cap price + today's GMP).The expected percentage gain/loss per share is 19.79%. >> HRS Aluglaze SME IPO Retail Subject to Sauda: ₹17300 The lowest GMP is ₹0.00, while the highest GMP is ₹19.00.
Last updated 15 Dec, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 15 Dec, 2025 | 96 | ₹19▲ | 17300 | ₹115 (19.79%) | 22800 | 15 Dec, 2025 |
| 14 Dec, 2025 | 96 | ₹14 | 12800 | ₹110 (14.58%) | 16800 | 14 Dec, 2025 |
| 13 Dec, 2025 | 96 | ₹14 | 12800 | ₹110 (14.58%) | 16800 | 13 Dec, 2025 |
| 12 Dec, 2025 | 96 | ₹14▼ | 12800 | ₹110 (14.58%) | 16800 | 12 Dec, 2025 |
| 11 Dec, 2025 | 96 | ₹15.5 | 14100 | ₹111.5 (16.15%) | 18600 | 11 Dec, 2025 |
| 10 Dec, 2025 | 96 | ₹15.5▲ | 14100 | ₹111.5 (16.15%) | 18600 | 10 Dec, 2025 |
| 09 Dec, 2025 | 96 | ₹0 | - | ₹96 (0.00%) | - | 09 Dec, 2025 |
| 08 Dec, 2025 | 96 | ₹0 | - | ₹96 (0.00%) | - | 08 Dec, 2025 |
| 07 Dec, 2025 | 96 | ₹0 | - | ₹96 (0.00%) | - | 07 Dec, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for HRS Aluglaze IPO
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Find HRS Aluglaze IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Provide your UPI ID linked to your bank account and submit the application.
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Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.