HRS Aluglaze Files for IPO with Fresh Issue of 58 Lakh Shares

Ahmedabad, September 11, 2025: HRS Aluglaze Limited has filed for an upcoming public issue through its DRHP (Draft Red Herring Prospectus). The company will be listed on the BSE SME Exchange. The company plans a 100% fresh issue of 58 lakh equity shares. The proceeds of the IPO will be used for the expansion of the current capacity and meeting working capital needs.

IPO Details

The issue size of the IPO will be of 58 lakh equity shares (FV ₹10 each). It is a 100% fresh issue and is proposed to be listed on the BSE SME index. The lead manager of the issue is Cumulative Capital Private Limited, and the registrar to the issue is Purva Sharegistry (India) Pvt. Ltd. The lot size and price band have not been reported in the DRHP. Promoters of the company include Rupesh Pravinbhai Shah, Pinky Rupesh Shah, and Hrishikesh Rupesh Shah.

Use of Proceeds

The company aims at using ₹1829 .80 lakhs out of the proceeds in setting up a new facade assembly and glass glazing line in Rajoda, Ahmedabad. Around ₹1900 lakhs have been allocated for working capital requirements, with the balance reserved for general corporate purposes.

Expansion Project Highlights

The new automated facade assembly and glass glazing line facility will be located in Rajoda and includes civil construction along with a 1000 kWp solar PV plant with a commissioning target for August 2026.

Financial Performance

In the past three years, the company has grown at a consistent pace. The revenues have doubled from FY23 to FY25, from ₹2,255.28 lakh in FY23 to ₹4,210.85 lakh. The profitability has also improved considerably (around six times to 514.64 lakhs. The company has also seen a massive increase in its net worth, which expanded from ₹817.28 lakh to ₹2,010.56 lakh. However, in the past three financial years, the total borrowings of the company have also gone up and more than doubled from ₹1,790.50 lakh to ₹3,865.59 lakh.

Business Overview

The company is engaged in designing, manufacturing, and installing premium aluminum windows, doors, curtains, cladding and glazing systems. The company deals with both individual and business customers with standard and customized solutions.

REF: https://www.bsesme.com/download/357605/SME_IPO InPrinciple/HRS_ALUGLAZE_LIMITED_DRHP_11092025_20250911122618.pdf

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