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InvestmentsIPOHRS Aluglaze IPO

HRS Aluglaze IPO

SME

Open Date

11 Dec 2025

Close Date

15 Dec 2025

Min Investment

₹ 2,30,400

Lot Size

1,200

Issue Size

₹ 50.92 Cr

Price Range

₹ 94 - ₹ 96

Subscribed

32.16 x
status

This IPO is now Live.

Click here for live price
IPO Timeline
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IPO Offer Start
11 Dec 2025
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IPO Offer Ends
15 Dec 2025
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Allotment Finalisation
16 Dec 2025
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Refund Initialisation
17 Dec 2025
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Non-Institutional Buyers (sHNI)
17 Dec 2025
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Listing of Shares
18 Dec 2025
IPO Subscription Details as on 2 Apr 2026, 01:20 PM
Qualified Instituational Buyers (QiB)
9.19 x
Retail
35.56 x
Total
32.16 x
Non-Institutional Buyer (bHNI)
82.64 x
Non-Institutional Buyer (sHNI)
38.72 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
HRS Aluglaze Limited is engaged in the design, manufacturing, and installation of a wide range of aluminium products, including windows, doors, curtain walls, cladding, and glazing systems. The company provides comprehensive, end-to-end services across the project lifecycle covering design, engineering, fabrication, supply, installation, and final handover of aluminium and glass systems. The company has successfully completed several projects across commercial complexes, residential towers, industrial facilities, and government infrastructure with 28 active projects as of September 30, 2025.
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Founded In

2012

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CEO

Pinky Rupesh Shah

Financials of Hrs Aluglaze IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue22.5526.6942.11
Other Income0.140.280.04
Total Income
22.6926.9742.14
Total Expenses
21.4824.5735.27
Profit Before Tax1.212.406.88
Total Profit
0.871.795.15

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to expand its manufacturing capabilities by setting up an assembly and glass glazing line at its Rajoda facility. This expansion includes construction of factory building, installation of solar power plant, and procurement of machinery to enhance operational efficiency and meet growing demand for aluminium and glass glazing solutions.18
The company intends to utilize funds for day-to-day operational requirements including procurement of raw materials and consumables, financing higher inventory levels, funding trade receivables, and meeting routine operating expenses to support expanded business operations.19
The company proposes to deploy funds towards general corporate purposes including business development initiatives, meeting expenses such as salaries, rent, administration costs, insurance premiums, repairs and maintenance, payment of taxes and duties, and other expenses incurred in ordinary course of business.-
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  • Experienced Leadership and Skilled Teams: The company's leadership team comprises professionals with extensive experience in fa�ade engineering and project execution. Rupesh Shah brings over 30 years of experience in aluminium fabrication industry, supported by qualified management including engineers and specialists with IIM training.
  • Proven Track Record with Strong Client Relationships: The company has successfully executed several projects across India with 80% of business coming from repeat customers. The company maintains long-term partnerships with leading real estate developers, government agencies, and institutional clients based on reliability and on-time delivery.
  • Design, Execution, and Completions: The company has in-house estimation and design team of 7 employees with advanced CNC machines and testing equipment. The company maintains 90 team members on payroll and contract for project execution, ensuring high-precision fabrication and consistent product quality.
  • Commitment to Quality, Innovation, and Sustainability: The company operates under ISO 9001:2015 certification and MSME ZED Bronze Certification. The facility includes Italian fabrication equipment with SOP-driven processes and 422 KW solar power plant, demonstrating commitment to sustainable manufacturing practices.
  • Vision to Shape the City Skyline: The company positions itself as a creative and technical leader in fa�ade engineering space, aiming to redefine modern architecture. The company contributes to architectural advancement through dynamic facades, rainscreen cladding, and innovative glazing solutions.

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