HRS Aluglaze, an aluminium product manufacturer, aims to raise ₹51 crore through an initial public offering (IPO) on the BSE SME platform. The company intends to issue 53.04 lakh equity shares, which includes a market maker portion of 2.75 lakh shares, with a total public offering of 50.29 lakh shares. The offer price is set between ₹94 and ₹96 per share.
The public subscription is scheduled to open on December 11, with Cumulative Capital acting as the lead manager for the offer.
Proceeds from the IPO will be allocated as follows: ₹18.30 crore will be directed towards capital expenditure for establishing an assembly and glass glazing line in Rajoda, Ahmedabad, aimed at façade work; ₹19 crore will support working capital needs; and the remaining funds will be used for general corporate purposes.
For individual investors, the minimum application involves purchasing 2,400 shares, equating to a minimum investment of ₹230,400 at the upper offer price of ₹96 per share.
HRS Aluglaze specializes in the design, manufacture, and installation of aluminium products, including windows, doors, curtain walls, cladding, and glazing systems. The company offers both standard and customized solutions to builders, contractors, architects, and institutions, alongside material supply and procurement support. With a manufacturing facility in Ahmedabad spanning 11,176 square meters, it is equipped with CNC precision machinery and powder coating facilities. An expansion plan is in place for an adjacent 13,714 square meter facility. Currently, the company is engaged in 28 active projects.
Published on December 12, 2025.
