Hrs Aluglaze Ipo
HRS Aluglaze IPO Review & Key Points
Review: Neutral
Rating: 2
IPO Lead Managers aka Merchant Bankers
Cumulative Capital Pvt.Ltd.
| 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 |
| 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% |
| 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 |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,39,78,125 | 100% |
| Promoter Holding Post Issue | 1,92,82,125 | 72.49% |
| 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 | ₹- |
| 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 |
| 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 |
| 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 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 |