HRS Aluglaze IPO – Key Details

5. Business: Design, engineering, fabrication and installation of aluminium façades, glazing, doors, windows, curtain walls and related metal works for commercial, institutional and residential projects.
5. Issue Size: ₹50.92 crore (100% fresh issue of 53,04,000 equity shares).
5. Price Band: ₹94–₹96 per share (face value ₹10).
5. IPO Dates: Opens 11 December 2025; closes 15 December 2025.
5. Allotment & Listing: Allotment expected 16 December; listing on BSE SME on/around 18 December 2025.
5. Lot Size: 1,200 shares; minimum retail application is 2 lots = 2,400 shares (₹2,30,400 at upper band).
5. Use of Proceeds: Capacity expansion, plant & machinery, new projects, working capital, and general corporate purposes.

Business & Financial Snapshot

HRS Aluglaze executes façade and glazing contracts for builders, corporates and institutions—delivering tailor-made aluminium structures, doors/windows and curtain wall systems. The company’s work is visible on commercial complexes, IT parks and high-end real-estate projects, primarily in and around Gujarat, with plans to scale footprint.

Company Financials

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.

Period Ended	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	91.16	80.60	42.43	34.10
Total Income	26.35	42.14	26.97	22.69
Profit After Tax	4.54	5.15	1.79	0.87
EBITDA	8.45	10.70	3.53	1.75
NET Worth	24.61	20.11	9.96	8.17
Reserves and Surplus	10.66	13.45	3.46	1.67
Total Borrowing	41.04	38.66	24.35	17.91
Amount in ₹ Crore

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.

IPO Reservation:-

HRS Aluglaze IPO offers total 53,04,000 shares. Out of which 24,87,600 (46.90%) allocated to QIB, 14,43,600 (27.22%) allocated to QIB (Ex- Anchor), 7,56,000 (14.25%) allocated to NII 17,85,600 (33.67%) allocated to RII and 10,44,000 (19.68%) allocated to Anchor investors.

Strengths of HRS Aluglaze IPO

1. Niche Expertise in Façades & Glazing
2. Strong Order Book & Growth Momentum
3. Experienced Leadership & Client Relationships
4. 100% Fresh Issue – No Promoter Exit
5. Tailwinds from Construction & Urbanisation

Risks & Weaknesses of HRS Aluglaze IPO

1. High Leverage & Working-Capital Intensity
2. Geographic & Sector Concentration
3. Competitive & Fragmented Market
4. Raw Material Price Volatility
5. SME Listing & Liquidity Risk
6. Valuation Looks Demanding

How To Apply for the IPO?

5. Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 
5. Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
5. Select IPO: Find and select the IPO from the list of open IPOs. 
5. Enter the Lot Size: Specify the number of lots you want to bid for. 
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
5. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of IPO?

Steps to check IPO allotment status on JM Pro app: 

5. Log in to the JM Pro app. 
5. Go to the IPO Section and then to IPO Orders. 
5. Select the individual IPO that you had applied for and check the allotment status. 

JM Financial Services will notify you of your IPO allotment status via push notification and email

 

FAQs – HRS Aluglaze IPO

Q1. What are the IPO dates and price band for HRS Aluglaze?
The IPO opens on 11 December 2025 and closes on 15 December 2025, with a price band of ₹94–₹96 per share.

Q2. What is the lot size and minimum investment?
The minimum lot size is 1,200 shares, and retail investors must apply for at least 2 lots (2,400 shares), requiring about ₹2,30,400 at the upper band.

Q3. How big is the issue and what kind of issue is it?
The IPO size is ₹50.92 crore, consisting of a 100% fresh issue of 53.04 lakh equity shares—there is no offer for sale by existing shareholders.

Q4. What will the company use the IPO money for?
Funds will be used mainly for capacity expansion (plant, facility and fabrication capabilities), working capital for ongoing and new projects, and general corporate purposes.

Q5. Who should consider this IPO?
Investors who:

• understand SME listings,
• are comfortable with higher leverage and real-estate cyclicality, and
• are looking for a niche bet on façades and aluminium glazing with strong recent growth
  may consider tracking it. Conservative investors may prefer to watch post-listing performance and deleveraging progress first.