HRS Aluglaze Ltd has announced that it plans to raise up to ₹50.92 crore through its Initial Public Offering (IPO), which will open for subscription on December 11 and close on December 15. The shares will be listed on the BSE SME platform after the public issue.
The company will issue 53.04 lakh equity shares in a price band of ₹94 to ₹96 per share. The minimum application size for retail investors is 2,400 shares, equivalent to a minimum investment of ₹2,30,400 at the upper price band. According to the company, the funds raised will be used for setting up an assembly and glass glazing line at Rajoda, Ahmedabad, working capital requirements, and general corporate purposes.
For H1 FY26, HRS Aluglaze registered total income of ₹26.35 crore and a net profit of ₹4.54 crore. The company manufactures and installs aluminium products, including curtain walls, doors, cladding, and glazing systems. In Kolkata, experts said that the aluminium solutions segment has been gaining traction in the city due to high-rise construction and commercial real estate development in areas like New Town and Rajarhat.