HRS Aluglaze IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Dec 11 to Dec 15 2025
Price Band
₹94 - 96
Current GMP
₹126.0 (+31.25%)
Subscription
44.83 times
IPO Details
| IPO Date | 11 to 15 Dec, 2025 |
| Listing Date | Thu, Dec 18, 2025 |
| Face Value | ₹ 10 per share |
| Price Band | ₹94 to ₹96 |
| Issue Price | ₹96 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 53,04,000 shares (agg. up to ₹ 50.92 Cr) |
| Reserved for Market Maker | 2,74,800 shares (agg. up to ₹ 2.64 Cr) Mnm Stock Broking Pvt.Ltd. |
| Net Offered to Public | 50,29,200 shares (agg. up to ₹ 48.28 Cr) |
| Share Holding Pre Issue | 1,39,78,125 shares |
| Share Holding Post Issue | 1,92,82,125 shares |
| BSE Script Code | 544656 |
| ISIN | INE1E1V01017 |
IPO Date
11 to 15 Dec, 2025
Listing Date
Thu, Dec 18, 2025
Face Value
₹ 10 per share
Price Band
₹94 to ₹96
Issue Price
₹96 per share
Lot Size
1,200 Shares
Sale Type
Fresh Capital
Issue Type
Bookbuilding IPO
Listing At
BSE SME
Total Issue Size
53,04,000 shares (agg. up to ₹ 50.92 Cr)
Reserved for Market Maker
2,74,800 shares (agg. up to ₹ 2.64 Cr) Mnm Stock Broking Pvt.Ltd.
Net Offered to Public
50,29,200 shares (agg. up to ₹ 48.28 Cr)
Share Holding Pre Issue
1,39,78,125 shares
Share Holding Post Issue
1,92,82,125 shares
BSE Script Code
544656
ISIN
INE1E1V01017
IPO Subscription Details
| Anchor Investors | 1 |
| Market Maker | 1 |
| QIB (Ex Anchor) | 19.48 |
| Non-Institutional Buyers*** | 82.13 |
| bNII (bids above ₹10L) | 98.16 |
| sNII (bids below ₹10L) | 50.07 |
| Individual Investors | 49.54 |
| Total ** | 44.83 |
Anchor Investors
1
Market Maker
1
QIB (Ex Anchor)
19.48
Non-Institutional Buyers***
82.13
bNII (bids above ₹10L)
98.16
sNII (bids below ₹10L)
50.07
Individual Investors
49.54
Total **
44.83
Day Wise Sub
| Day | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Day 1 Dec 11, 2025 | 1.08 | 0.17 | 0.08 | 0.34 | 0.40 | 0.60 |
| Day 2 Dec 12, 2025 | 1.08 | 1.51 | 1.28 | 1.95 | 2.69 | 1.89 |
| Day 3 Dec 15, 2025 | 19.48 | 82.13 | 98.16 | 50.07 | 49.54 | 44.83 |
DayDay 1
Dec 11, 2025
QIB (Ex Anchor)1.08
NII*0.17
NII (> ₹10L)0.08
NII (< ₹10L)0.34
Individual Investors0.40
Total0.60
DayDay 2
Dec 12, 2025
QIB (Ex Anchor)1.08
NII*1.51
NII (> ₹10L)1.28
NII (< ₹10L)1.95
Individual Investors2.69
Total1.89
DayDay 3
Dec 15, 2025
QIB (Ex Anchor)19.48
NII*82.13
NII (> ₹10L)98.16
NII (< ₹10L)50.07
Individual Investors49.54
Total44.83
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 18-12-2025 | 96.00 | 22(22.92%) | 118 |
| 17-12-2025 | 96.00 | 22(22.92%) | 118 |
| 16-12-2025 | 96.00 | 24(25.00%) | 120 |
| 15-12-2025 | 96.00 | 19(19.79%) | 115 |
| 14-12-2025 | 96.00 | 14(14.58%) | 110 |
| 13-12-2025 | 96.00 | 14(14.58%) | 110 |
| 12-12-2025 | 96.00 | 14(14.58%) | 110 |
| 11-12-2025 | 96.00 | 15.5(16.15%) | 111.5 |
| 10-12-2025 | 96.00 | 15.5(16.15%) | 111.5 |
| 09-12-2025 | 96.00 | 0(0.00%) | 96 |
| 08-12-2025 | 96.00 | 0(0.00%) | 96 |
| 07-12-2025 | 96.00 | 0(0.00%) | 96 |
Date18-12-2025
Price96.00
GMP22(22.92%)
Estimate List Price118
Date17-12-2025
Price96.00
GMP22(22.92%)
Estimate List Price118
Date16-12-2025
Price96.00
GMP24(25.00%)
Estimate List Price120
Date15-12-2025
Price96.00
GMP19(19.79%)
Estimate List Price115
Date14-12-2025
Price96.00
GMP14(14.58%)
Estimate List Price110
Date13-12-2025
Price96.00
GMP14(14.58%)
Estimate List Price110
Date12-12-2025
Price96.00
GMP14(14.58%)
Estimate List Price110
Date11-12-2025
Price96.00
GMP15.5(16.15%)
Estimate List Price111.5
Date10-12-2025
Price96.00
GMP15.5(16.15%)
Estimate List Price111.5
Date09-12-2025
Price96.00
GMP0(0.00%)
Estimate List Price96
Date08-12-2025
Price96.00
GMP0(0.00%)
Estimate List Price96
Date07-12-2025
Price96.00
GMP0(0.00%)
Estimate List Price96
IPO Important Dates
| IPO Open Date | Thu, Dec 11, 2025 |
| IPO Close Date | Mon, Dec 15, 2025 |
| Tentative Allotment | Tue, Dec 16, 2025 |
| Initiation of Refunds | Wed, Dec 17, 2025 |
| Credit of Shares to Demat | Wed, Dec 17, 2025 |
| Tentative Listing Date | Thu, Dec 18, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Dec 15, 2025 |
IPO Open Date
Thu, Dec 11, 2025
IPO Close Date
Mon, Dec 15, 2025
Tentative Allotment
Tue, Dec 16, 2025
Initiation of Refunds
Wed, Dec 17, 2025
Credit of Shares to Demat
Wed, Dec 17, 2025
Tentative Listing Date
Thu, Dec 18, 2025
Cut-off time for UPI mandate confirmation
5 PM on Mon, Dec 15, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,30,400 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,30,400 |
| S-HNI (Min) | 3 | 3,600 | ₹3,45,600 |
| S-HNI (Max) | 8 | 9,600 | ₹9,21,600 |
| B-HNI (Min) | 9 | 10,800 | ₹10,36,800 |
ApplicationIndividual investors (Retail) (Min)
Lots2
Shares2,400
Amount₹2,30,400
ApplicationIndividual investors (Retail) (Max)
Lots2
Shares2,400
Amount₹2,30,400
ApplicationS-HNI (Min)
Lots3
Shares3,600
Amount₹3,45,600
ApplicationS-HNI (Max)
Lots8
Shares9,600
Amount₹9,21,600
ApplicationB-HNI (Min)
Lots9
Shares10,800
Amount₹10,36,800
Key Performance Indicator
| 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 |
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
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|---|
| HRS Aluglaze Ltd | 3.25 | 3.25 | 17.61 | 20.28 | ||
| Innovators Facade Systems | 2.78 | 2.78 | 88.43 | 73.02 | 3.19 | 2.31 |
| Aluwind Infra-Tech | 2.04 | 2.04 | 26.06 | 39.22 | 8.15 | 3.08 |
Company NameHRS Aluglaze Ltd
EPS (Basic)3.25
EPS (Diluted)3.25
NAV (per share) (Rs)17.61
P/E (x)
RoNW (%)20.28
P/BV Ratio
Company NameInnovators Facade Systems
EPS (Basic)2.78
EPS (Diluted)2.78
NAV (per share) (Rs)88.43
P/E (x)73.02
RoNW (%)3.19
P/BV Ratio2.31
Company NameAluwind Infra-Tech
EPS (Basic)2.04
EPS (Diluted)2.04
NAV (per share) (Rs)26.06
P/E (x)39.22
RoNW (%)8.15
P/BV Ratio3.08
IPO Reservation
| Market Maker Shares Offered | 2,74,800 (5.18%) |
| QIB Shares Offered | 24,87,600 (46.90%) |
| − Anchor Investor Shares Offered | 10,44,000 (19.68%) |
| − QIB (Ex. Anchor) Shares Offered | 14,43,600 (27.22%) |
| NII (HNI) Shares Offered | 7,56,000 (14.25%) |
| − bNII > ₹10L | 5,04,000 (9.50%) |
| − sNII < ₹10L | 2,52,000 (4.75%) |
| Retail Shares Offered | 17,85,600 (33.67%) |
| Total Shares Offered | 53,04,000 (100.00%) |
Market Maker Shares Offered
2,74,800 (5.18%)
QIB Shares Offered
24,87,600 (46.90%)
− Anchor Investor Shares Offered
10,44,000 (19.68%)
− QIB (Ex. Anchor) Shares Offered
14,43,600 (27.22%)
NII (HNI) Shares Offered
7,56,000 (14.25%)
− bNII > ₹10L
5,04,000 (9.50%)
− sNII < ₹10L
2,52,000 (4.75%)
Retail Shares Offered
17,85,600 (33.67%)
Total Shares Offered
53,04,000 (100.00%)
Information about company
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:
As of September 30, 2025, the Company employed approximately Ninety (90) personnel, including skilled, semiskilled, and unskilled workers across various functions.
Competitive Strengths:
Disclaimer
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