HRS Aluglaze IPO Subscribed Over 5 Times: Retail Portion Nearly 8 Times; Check Latest GMP

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HRS Aluglaze IPO Subscribed Over 5 Times: Retail Portion Nearly 8 Times; Check Latest GMP

The public issue was subscribed 7.98 times in the individual investors category, 1.09 times in the QIB (ex-anchor) category, and 5.89 times in the NII category.

HRS Aluglaze Ltd’s IPO is a book-built issue aggregating to Rs 50.92 crore. The issue comprises entirely a fresh issue of 0.53 crore equity shares amounting to Rs 50.92 crore. The initial public offering of HRS Aluglaze Ltd, which is engaged in the design, manufacturing, and installation of aluminium products, was fully subscribed by Day 2 of the issue. The HRS Aluglaze IPO was subscribed over five times.

As of 11:29 AM on December 15, the public issue was subscribed 7.98 times in the individual investors category, 1.09 times in the QIB (ex-anchor) category, and 5.89 times in the NII category.

The grey market premium (GMP) for the company’s shares was trading in the range of Rs 14– Rs 25 per share, with sauda rates quoted between Rs 18,000 and Rs 20,000.*

The public offer opened for subscription on December 11, 2025, and will close on Monday, December 15, 2025. The shares are proposed to be listed on the BSE SME platform. Cumulative Capital Pvt. Ltd. is the lead manager to the issue.

The Rs 50.92 crore IPO is a fresh issue of 53.04 lakh equity shares, including a market maker portion of 2.748 lakh shares. The total issue offered to the public comprises 50.29 lakh equity shares with a face value of Rs 10 each, priced in the range of Rs 94–Rs 96 per share.

Out of the total net proceeds from the issue, Rs 18.30 crore will be utilised for funding capital expenditure to set up an assembly and glass glazing line at Rajoda, Ahmedabad, for façade work. Rs 19 crore will be allocated towards meeting working capital requirements, while the remaining amount will be used for general corporate purposes. The total number of shares offered in the retail category stands at 17.85 lakh.

The minimum application size for individual investors is 2,400 shares, translating into a minimum investment of Rs 2,30,400 at the upper price band of Rs 96 per share. The lot size is fixed at 1,200 shares.

* Depending on sources and it may differ. 

Disclaimer: The article is for informational purposes only and not investment advice.