The HRS Aluglaze IPO opening date is December 11, 2025, and the IPO will close on December 15, 2025. The HRS Aluglaze IPO is a book-build issue. The company will raise approximately ₹50.92 crore through the IPO, which includes a fresh issue of ₹50.92 crore and an offer for sale of up to [.] equity shares of face value ₹10.
The price band for the HRS Aluglaze IPO is ₹94 to ₹96 per share. The retail quota is 35%, QIB 50%, and HNI 15%. The HRS Aluglaze IPO will be listed on the BSE on December 18, 2025. The allotment date for the HRS Aluglaze IPO is December 16, 2025.
The company reported revenue of ₹42.14 crore in 2025, compared to ₹26.97 crore in 2024. The company reported a profit of ₹5.15 crore in 2025, compared to a profit of ₹1.79 crore in 2024. According to financials, IPO investors should apply for the IPO for the long term.
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, equipped with CNC precision machinery and powder coating facilities. An expansion of 13,714 square meters adjoining the current facility is proposed.
As on September 30, 2025, the Company has 28 active projects.
Offerings:
- Doors and Windows
- Curtain Walls and Structural Glazing
- Glass Railings, Partitions, Louvers, and Screens
- Cladding and Dynamic Façades
- Material Supply and Procurement Support
As of September 30, 2025, the Company employed approximately Ninety (90) personnel, including skilled, semiskilled, and unskilled workers across various functions.
Competitive Strengths:
- Experienced Leadership and Skilled Teams
- Proven Track Record with Strong Client Relationships
- Design, Execution, and Completions
- Commitment to Quality, Innovation, and Sustainability
- Vision to Shape the City Skyline
HRS Aluglaze IPO Details
| IPO Open Date | December 11, 2025 |
| IPO Close Date | December 15, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹94 to ₹96 Per Share |
| Issue Size | Approx ₹50.92 Crores |
| Fresh Issue | Approx ₹50.92 Crores |
| Issue Type | Book Build Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
HRS Aluglaze IPO Market Lot
The HRS Aluglaze IPO minimum market lot is 2,400 shares with ₹2,30,400 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,400 | ₹2,30,400 |
| Retail Maximum | 2 | 2,400 | ₹2,30,400 |
| S-HNI Minimum | 3 | 3,600 | ₹3,45,600 |
| S-HNI Maximum | 8 | 9,600 | ₹9,21,600 |
| B-HNI Minimum | 9 | 10,800 | ₹10,36,800 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 10,44,000 Shares | 19.68% |
| QIB (Ex. Anchor) | 14,43,600 Shares | 27.22% |
| NII Shares Offered | 7,56,000 Shares | 14.25% |
| Retail Shares Offered | 17,85,600 Shares | 33.67% |
HRS Aluglaze IPO Dates
The HRS Aluglaze IPO date is December 11 and the close date is December 15. The HRS Aluglaze IPO allotment will be finalized on December 16 and the IPO listing on December 18.
| IPO Open Date: | December 11, 2025 |
| IPO Close Date: | December 15, 2025 |
| Basis of Allotment: | December 16, 2025 |
| Refunds: | December 17, 2025 |
| Credit to Demat Account: | December 17, 2025 |
| IPO Listing Date: | December 18, 2025 |
| IPO Bidding Cut-off Time: | December 15, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Rupesh Pravinbhai Shah, Pinky Rupesh Shah and Hrishikesh Rupesh Shah.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,39,78,125 | 100% |
| Promoter Holding Post Issue | 1,92,82,125 | 72.49% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Funding capital expenditure to set up assembly & glass glazing line at Rajoda, Ahmedabad for façade work. | ₹18.30 |
| Funding of working capital requirements of the Company | ₹19.00 |
| General Corporate Purpose | ₹- |
HRS Aluglaze IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹22.69 | ₹21.48 | ₹0.87 | ₹34.10 |
| 2024 | ₹26.97 | ₹24.57 | ₹1.79 | ₹42.43 |
| 2025 | ₹42.14 | ₹35.27 | ₹5.15 | ₹80.60 |
| September 2025 | ₹26.35 | ₹20.23 | ₹4.54 | ₹91.16 |
HRS Aluglaze IPO Valuation – FY2025
Check HRS Aluglaze IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 34.24% |
| ROCE: | 15.97% |
| EBITDA Margin: | 25.42% |
| PAT Margin: | 12.22% |
| Debt to equity ratio: | 1.92 |
| Earning Per Share (EPS): | ₹3.76 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 34.24% |
| Net Asset Value (NAV): | ₹14.70 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Innovators Facade Systems Ltd (Consolidated) | 2.78 | 73.02 | 3.19% | 88.43 | 83.60 Cr. |
| Aluwind Infra-Tech Limited (Standalone) | 2.04 | 39.22 | 8.15% | 26.06 | 64.46 Cr. |
IPO Lead Managers aka Merchant Bankers
- Cumulative Capital Pvt.Ltd.
Company Address
HRS Aluglaze Ltd.
601 W-1, 6th Floor, New York, Timber Street,
Opp. PSP House, B/H. S.G. Highway, Ambali Road,
Jodhpur, Ahmedabad – 380058
Phone: +91 79 26306595
E-mail: info@hrsaluglaze.com
Website: https://hrsaluglaze.com/
IPO Registrar
Purva Sharegistry (India) Pvt.Ltd.
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query