HRS Aluglaze Ltd IPO
Status: Closed
Overview
IPO date
11 Dec 2025 to 15 Dec 2025
Face value
₹ 10 per share
Price
₹ 94 to ₹96 per share
Issue Size
5,304,000 shares
(aggregating up to ₹ 50.92 Cr)
(aggregating up to ₹ 50.92 Cr)
Allotment Date
16 Dec 2025
Listing at
NSE
Issue type
Book Building - SME
Sector
Construction
Objectives of HRS Aluglaze Ltd IPO
HRS Aluglaze Ltd IPO Strategy
About HRS Aluglaze Ltd
Unlock Stock of the Month
T&C*
Strengths vs Risks of HRS Aluglaze Ltd
Know the pros & cons
Strengths
High Quality Products.- Our long-standing relationships with suppliers.
- Design and execution capability.
- leveraging the experience of our Promoter and team.
- Market Knowledge and Industry Expertise.
- Marquee client base and repeat orders.
- Diversified real estate portfolio.
- Quality certifications.
Risks
- The company orders book may not be representative of its future results. Projects included in the company order book and
its futures projects may be delayed, modified or cancelled for reasons beyond its control which may
materially and adversely affect the company business, prospects, reputation, profitability, financial condition and
results of operation.
- Its business is dependent on certain key customers and the loss of any of these customers or loss of
revenue from sales to any key customers could has a material adverse effect on the company business, financial
condition, results of operations and cash flows.
- The company does not have firm commitment agreements its customers. If the company customers choose not to source
their requirements from it, there may be a material adverse effect on its business, financial condition,
cash flows and results of operations.
- The company business and profitability are substantially dependent on the availability and the cost of its raw
materials and components consumed for which the company relies on third parties. Any disruption in timely and
adequate supply of the raw materials, or volatility in the prices of raw materials or failures to maintain
cordial relations with the company suppliers may adversely impact its business, results of operations, financial
condition and cash flows.
- The company projects is generally awarded to its upon meeting prescribed pre-qualification requirements and
through a competitive bidding process. Any failures to secure new project awards may adversely affect the company
business operations and financial condition.
- The company manufacturing unit and its operations are geographically concentrated in Gujarat. Consequently,
its are exposed to risks from economic, regulatory and other developments which could have an adverse
effect on the company business, results of operations and financial condition. Further, its continued operations
are critical to the company business and any shutdown of its manufacturing unit may adversely affect the company
business, results of operations and financial condition.
- Due to the seasonal nature of the industry the company operates in, its may not be able to achieve complete utilisation
of the manufacturing unit, which in turn could materially and adversely affect the company business, financial
condition and results of operation.
- The company is dependent on its manufacturing unit, and any loss, or shutdown, or under-utilization of the
production capacities of the company manufacturing unit may has an adverse effect on its business, financial condition and results of operations.
- The Company has, in the past, experienced delays and non-compliances in filing e-forms with the
Registrar of Companies ("RoC"), including annual returns, financial statements, and charge-related
forms. While no regulatory actions or penalties have been imposed to date except below mentioned, there
is no assurance that such actions will not be levied in the future. The Company cannot guarantee that
similar delays will not occur in the future, and if regulatory authorities impose penalties or take punitive
actions against the Company or its directors/officers, it could negatively affect the Company's business
and financial condition.
- The company proposed capacity expansion plans relating to the new manufacturing facility at Rajoda, Ahmedabad
are subject to risks of unanticipated delays, cost overruns, regulatory hurdles, and its may not be able to
derives the intended benefits from the project.
- Its may faces challenges in introducing new engineering processes or adapting to evolving customer
preferences in a timely and effective manner. Additionally, if the company services become obsolete dues to
advancements or the emergence of alternative products, the demand for the company engineering services and
products may decline. Such circumstances could materially and adversely affect its business operations,
cash flows, financial performance, and overall financial condition.
- The company depends significantly on the company design capabilities to conduct precise pre-approval engineering studies
for potential orders. it is also dependent upon project execution team in respect of execution of
projects. Any inability of these teams to accurately estimate project costs or effectively execute orders
could adversely affect the company business operations, financial performance, condition, and cash flows.
- The company business is dependent on the growth of the real estate, and infrastructure activities. If the growth in
these industries is slow or stagnant, it could has an adverse impact on its business, results of operations,
financial condition and cash flows.
- The company is subject to applicable quality standards and performance requirements set by its customers. Any
failures on the company part to meet these standards or requirements may result in the cancellation of existing and
future orders. Such events could adversely impact its business operations, financial performance, and
cash flows.
- The company has experienced negative cash flows in the last three financial years. Any negative cash flows in the futures would adversely affect its results of operations and financial condition.
- The company generates its major portion of sales from its operations in certain geographical regions. Any adverse
developments affecting the company operations in thoes regions could has an adverse impact on its revenue and
results of operations.
- The Company requires significant amounts of working capital and significant portion of its working
capital is consumed in trade receivables and inventories. The company inability to meet its working capital
requirements including failures to realize receivables and inventories may has an adverse effect on its
results of operations and overall business.
- The company's may not be able to collect receivables due from the company customers, in a timely manner, or at all, it
may adversely affect the company business, financial condition, results of operations and cash flows.
- The company is dependent on third parties for the transportation and timely delivery of its products to customers.
Any failures by or loss of a third party transport service provider could result in delays and increased costs,
it may adversely affect the company business.
- The company's conduct the ccompany business in a highly-regulated industry and environment. Its business is dependent on
approvals from relevant regulatory and health authorities. Any delay or failures to obtain or renew such
required regulatory approvals, registrations or any change in the regulatory environment in relation to
marketing the company products in regulated markets may significantly impact its business and strategy affecting
the company overall profitability and may impose significant compliance burdens on its.
- The company may not be able to prevent others from unauthorised use of its intellectual property and may in the
futures become subject to patent, trademark and/or other intellectual property infringement claims.
- The company has issued Equity Shares during the last one year at a price that may be below the Issue Price.
- Its inability to manage the company growth or to successfully implement its growth strategy could materially
and adversely affect the company business, financial condition, results of operations and prospects.
- The company depends on the company senior management and other personnel with technical expertise, and if it is unable
to recruit and retain qualified and skilled personnel, the company business and its ability to operate or grow the company
business may be adversely affected.
- The company's Promoters, Directors, Key Managerial Personnel and Senior Management Personnel has interests
in the Company other than reimbursement of expenses incurred or normal remuneration or benefits.
- The company does not own certain premises used by its Company. Disruption of the company rights as licensee/ lessee or
termination of the agreements with its licensors/ lessors would adversely impact the company manufacturing
operations and, consequently, its business.
- Any variation in the utilization of the Net Issue Proceeds shall be subject to certain compliance
requirements, including prior approval of the shareholders of the Company.
- The company Promoters have extended personal guarantees with respect to loan facilities availed by the Company.
Further, Promoters, have provided their property as collateral security for loan facilities availed by the
Company. Revocation of any or all of these personal or corporate guarantees or withdrawal of such
property may adversely affect its business operations and financial condition.
- There have been certain instances of delays in payment of statutory dues by the Company in the past.
Any failures or delay in payment of such statutory dues may expose us to statutory and regulatory action,
as well as significant penalties, and may adversely impact its business, results of operations, cash flows
and financial condition.
- There are outstanding litigations involving the Company, if determined adversely, may adversely affect
its business and financial condition.
- The company has certain contingent liabilities and its financial condition and profitability may be adversely
affected if any of these contingent liabilities materialize.
- The company operations is labour intensive and its manufacturing operations may be subject to unionization,
work stoppages or increased labour costs, the company could adversely affect its business and results of
operations.
- We have in past entered into related party transactions and we may continue to do so in the future.
- Our operations are subject to environmental and health and safety laws and other government regulations
which could result in increased liabilities and increased capital expenditures.
- The company operates in a competitive organised and unorganised industry with low barriers to entry and may be
unable to compete with a range of unorganized players.
- Fraud or misconduct by our employees could adversely affect our reputation, business, results of
operations and financial condition.
- A downgrade in the company credit rating could adversely affect its ability to raise capital in the future.
- Information relating to its annual installed capacity, annual average available capacity and the
historical capacity utilization of the company Manufacturing Facility included in this Red Herring Prospectus is
based on various assumptions and estimates and future production and capacity utilization may vary.
- The company is dependent on information technology systems in carrying out its business activities and it forms
an integral part of the company business. Further, if it is unable to adapt to technological changes and
successfully implement new technologies or if it face failures of the company information technology systems, it
may not be able to compete effectively which may result in higher costs and would adversely affect its
business and results of operations.
- The company success depends upon its ability to attract, develop and retain trained manpower while also
maintaining low labour costs.
- The company insurance coverage may not be adequate to protect it against all potential losses, which may have a
material adverse effect on its business, financial condition and results of operations.
- The company Promoters and members of the Promoter Group have significant control over the Company and have
the ability to direct its business and affairs; their interests may conflict with your interests as a
shareholder.
- The average cost of acquisition of Equity Shares held by the company Promoters could be lower than the Issue
Price.
- The shortage or non-availability of power may adversely affect its business, result of operations,
financial conditions and cash flows.
- The company future fund requirements, in the form of further issue of capital or securities and/or loans taken by
it, may be prejudicial to the interest of the Shareholders depending upon the terms on its they are
eventually raised.
- In addition to its existing indebtedness for the company existing operations, it may incur further indebtedness
during the course of business. The company cannot assure that its would be able to service the company's existing and/ or
additional indebtedness.
- The company's inability to meet the company obligations, including financial and other covenants under debt financing
arrangements could adversely affect the company business, results of operations and financial condition. If it is
unable to raise additional capital on favourable terms, or at all, its business, results of operations and
financial condition could adversely affected.
- The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash
flows, working capital requirements, capital expenditure and restrictive covenants in the company financing
arrangements.
- If the company is unable to establish and maintain an effective system of internal controls and compliances, the company
businesses and reputation could be adversely affected.
- The company financial performance may be adversely affected if it is not successful in forecasting customer
demands, managing its inventory levels.
- Certain unsecured loans have been availed by it from Promoter and Managing Director Mr. Rupesh
Pravinbhai Shah, which is repayable on demand, could adversely affect the company cash flows, liquidity position,
and ability to finance operations and business growth in the event of such repayment demands.
- The company overall margins may fluctuate as a result of the product manufactured by it.
- The company intend to utilise the Net Issue Proceeds for funding its capital expenditure requirements and the company is
yet to place entire orders for such capital expenditure requirements. There is no assurance that we would
be able to source such capital expenditure requirements in a timely manner or at commercially acceptable
prices, which could adversely affect its expansion plans.
- The company is heavily dependent on machinery for its operations and its has not entered into any technical
support service agreements for the maintenance and smooth functioning of the company machineries.
- The company has not independently verified data from the industry and related data contained in this RHP.
- The requirements of being a listed company may strain its resources.
- The Equity Shares have never been publicly traded and the Issue may not results in an actives or liquid
market for the Equity Shares.
- There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME
Platform of BSE in a timely manner or at all.
- There is no existing market for its Equity Shares, and the company do not know if one will develop to provide you
with adequate liquidity. Further, an active trading market for the Equity Shares may not develops and the
price of the Equity Shares may be volatile.
- The prices of the Equity Shares may be highly volatile after the Issue.
- You will not be able to sell immediately on the Stock Exchanges any of the Equity Shares you purchases
in the Issue.
- There is restrictions on daily movements in the trading price of the Equity Shares, The company may adversely
affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a
particular point in time.
- The price of the Equity Shares may be volatile, its could result in substantial losses for investors
acquiring the Equity Shares in the Issue.
- Any futures issuance of Equity Shares, or convertible securities or other equity-linked securities by the
Company may dilute your shareholding and any sale of Equity Shares by its Promoter or members of
the company Promoter Group may adversely affect the trading price of the Equity Shares.
- Sale of Equity Shares by the company Promoter or other significant shareholder(s) may adversely affect the trading
price of the Equity Shares.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
HRS Aluglaze Ltd Peer Comparison
Understand the company’s industry standing
HRS Aluglaze Limited
Innovators Facade Systems Ltd
Aluwind Infra-Tech Limited
Face Value
10
10
10
Standalone / Consolidated
Standalone
Consolidated
Standalone
Total Income Rs. Cr.
26.333
83.6022
64.4637
EPS-Basis
3.25
2.78
2.04
EPS-Diluted
3.25
2.78
2.04
NAV Per Share
17.61
88.43
26.06
P/E-Basic EPS
---
73.02
39.22
P/E-Diluted EPS
---
---
---
RONW(%)
20.28
3.19
8.15
Latest NAV Period
---
---
---
Latest NAV
---
---
---
How to check the allotment status of HRS Aluglaze Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 11 Dec 2025 & closes on 15 Dec 2025.
HRS Aluglaze Limited was incorporated as a private Company as 'HRS Aluglaze Private Limited' pursuant a certificate of incorporation dated March 30, 2012 issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently, the status of the Company was changed to a public Company, the name was changed to 'HRS Aluglaze Limited' vide fresh Certificate of Incorporation dated October 8, 2024 issued by the Central Processing Centre.
Company is engaged in the business of design, manufacturing, and installation of a diverse range of aluminium-based architectural products, including windows, doors, curtain walls, cladding, and glazing systems. These solutions meet the specific requirements of builders, contractors, architect, and institutions, with both standard and customized options.
The Company operate a manufacturing plant in Taluka Bavla, Ahmedabad district of Gujarat. The Company has completed several projects across commercial complexes, residential towers, industrial facilities, and government infrastructure. Apart from these, Company offers material supply and procurement support to clients to carry out fabrication or installation independently. It manufacture and install a variety of aluminium and UPVC systems such as sliding, openable, bifold, and integrated blind doors and windows. In such cases, it supply good-quality aluminium profiles, glass units, hardware, sealants, and related accessories as per client specifications. It design, manufacture, and installs a wide range of aluminium and UPVC doors and windows, including sliding, openable, bifold, and integrated blind systems.
Since the Company commenced business in Gujarat factory at Dantali in 2018, it also followed the production at Rajoda Unit in FY24, having the installed capacity of 1,500 metric tonnes per month and has made the plant functional in 2025.
Company is planning the IPO of 58,00,000 equity shares having the face value of Rs 10 each through fresh issue.
HRS Aluglaze Ltd IPO will close on 15 Dec 2025.
- High Quality Products.
- Our long-standing relationships with suppliers.
- Design and execution capability.
- leveraging the experience of our Promoter and team.
- Market Knowledge and Industry Expertise.
- Marquee client base and repeat orders.
- Diversified real estate portfolio.
- Quality certifications.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Rupesh Pravinbhai Shah | 11287487 | 80.75 | 11287487 | 58.54 |
| 2 | Pinky Rupesh Shah | 2362500 | 16.9 | 2362500 | 12.25 |
| 3 | Hrishikesh Rupesh Shah | 328128 | 2.35 | 328128 | 1.7 |
- The company orders book may not be representative of its future results. Projects included in the company order book and its futures projects may be delayed, modified or cancelled for reasons beyond its control which may materially and adversely affect the company business, prospects, reputation, profitability, financial condition and results of operation.
- Its business is dependent on certain key customers and the loss of any of these customers or loss of revenue from sales to any key customers could has a material adverse effect on the company business, financial condition, results of operations and cash flows.
- The company does not have firm commitment agreements its customers. If the company customers choose not to source their requirements from it, there may be a material adverse effect on its business, financial condition, cash flows and results of operations.
- The company business and profitability are substantially dependent on the availability and the cost of its raw materials and components consumed for which the company relies on third parties. Any disruption in timely and adequate supply of the raw materials, or volatility in the prices of raw materials or failures to maintain cordial relations with the company suppliers may adversely impact its business, results of operations, financial condition and cash flows.
- The company projects is generally awarded to its upon meeting prescribed pre-qualification requirements and through a competitive bidding process. Any failures to secure new project awards may adversely affect the company business operations and financial condition.
- The company manufacturing unit and its operations are geographically concentrated in Gujarat. Consequently, its are exposed to risks from economic, regulatory and other developments which could have an adverse effect on the company business, results of operations and financial condition. Further, its continued operations are critical to the company business and any shutdown of its manufacturing unit may adversely affect the company business, results of operations and financial condition.
- Due to the seasonal nature of the industry the company operates in, its may not be able to achieve complete utilisation of the manufacturing unit, which in turn could materially and adversely affect the company business, financial condition and results of operation.
- The company is dependent on its manufacturing unit, and any loss, or shutdown, or under-utilization of the production capacities of the company manufacturing unit may has an adverse effect on its business, financial condition and results of operations.
- The Company has, in the past, experienced delays and non-compliances in filing e-forms with the Registrar of Companies ("RoC"), including annual returns, financial statements, and charge-related forms. While no regulatory actions or penalties have been imposed to date except below mentioned, there is no assurance that such actions will not be levied in the future. The Company cannot guarantee that similar delays will not occur in the future, and if regulatory authorities impose penalties or take punitive actions against the Company or its directors/officers, it could negatively affect the Company's business and financial condition.
- The company proposed capacity expansion plans relating to the new manufacturing facility at Rajoda, Ahmedabad are subject to risks of unanticipated delays, cost overruns, regulatory hurdles, and its may not be able to derives the intended benefits from the project.
- Its may faces challenges in introducing new engineering processes or adapting to evolving customer preferences in a timely and effective manner. Additionally, if the company services become obsolete dues to advancements or the emergence of alternative products, the demand for the company engineering services and products may decline. Such circumstances could materially and adversely affect its business operations, cash flows, financial performance, and overall financial condition.
- The company depends significantly on the company design capabilities to conduct precise pre-approval engineering studies for potential orders. it is also dependent upon project execution team in respect of execution of projects. Any inability of these teams to accurately estimate project costs or effectively execute orders could adversely affect the company business operations, financial performance, condition, and cash flows.
- The company business is dependent on the growth of the real estate, and infrastructure activities. If the growth in these industries is slow or stagnant, it could has an adverse impact on its business, results of operations, financial condition and cash flows.
- The company is subject to applicable quality standards and performance requirements set by its customers. Any failures on the company part to meet these standards or requirements may result in the cancellation of existing and future orders. Such events could adversely impact its business operations, financial performance, and cash flows.
- The company has experienced negative cash flows in the last three financial years. Any negative cash flows in the futures would adversely affect its results of operations and financial condition.
- The company generates its major portion of sales from its operations in certain geographical regions. Any adverse developments affecting the company operations in thoes regions could has an adverse impact on its revenue and results of operations.
- The Company requires significant amounts of working capital and significant portion of its working capital is consumed in trade receivables and inventories. The company inability to meet its working capital requirements including failures to realize receivables and inventories may has an adverse effect on its results of operations and overall business.
- The company's may not be able to collect receivables due from the company customers, in a timely manner, or at all, it may adversely affect the company business, financial condition, results of operations and cash flows.
- The company is dependent on third parties for the transportation and timely delivery of its products to customers. Any failures by or loss of a third party transport service provider could result in delays and increased costs, it may adversely affect the company business.
- The company's conduct the ccompany business in a highly-regulated industry and environment. Its business is dependent on approvals from relevant regulatory and health authorities. Any delay or failures to obtain or renew such required regulatory approvals, registrations or any change in the regulatory environment in relation to marketing the company products in regulated markets may significantly impact its business and strategy affecting the company overall profitability and may impose significant compliance burdens on its.
- The company may not be able to prevent others from unauthorised use of its intellectual property and may in the futures become subject to patent, trademark and/or other intellectual property infringement claims.
- The company has issued Equity Shares during the last one year at a price that may be below the Issue Price.
- Its inability to manage the company growth or to successfully implement its growth strategy could materially and adversely affect the company business, financial condition, results of operations and prospects.
- The company depends on the company senior management and other personnel with technical expertise, and if it is unable to recruit and retain qualified and skilled personnel, the company business and its ability to operate or grow the company business may be adversely affected.
- The company's Promoters, Directors, Key Managerial Personnel and Senior Management Personnel has interests in the Company other than reimbursement of expenses incurred or normal remuneration or benefits.
- The company does not own certain premises used by its Company. Disruption of the company rights as licensee/ lessee or termination of the agreements with its licensors/ lessors would adversely impact the company manufacturing operations and, consequently, its business.
- Any variation in the utilization of the Net Issue Proceeds shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The company Promoters have extended personal guarantees with respect to loan facilities availed by the Company. Further, Promoters, have provided their property as collateral security for loan facilities availed by the Company. Revocation of any or all of these personal or corporate guarantees or withdrawal of such property may adversely affect its business operations and financial condition.
- There have been certain instances of delays in payment of statutory dues by the Company in the past. Any failures or delay in payment of such statutory dues may expose us to statutory and regulatory action, as well as significant penalties, and may adversely impact its business, results of operations, cash flows and financial condition.
- There are outstanding litigations involving the Company, if determined adversely, may adversely affect its business and financial condition.
- The company has certain contingent liabilities and its financial condition and profitability may be adversely affected if any of these contingent liabilities materialize.
- The company operations is labour intensive and its manufacturing operations may be subject to unionization, work stoppages or increased labour costs, the company could adversely affect its business and results of operations.
- We have in past entered into related party transactions and we may continue to do so in the future.
- Our operations are subject to environmental and health and safety laws and other government regulations which could result in increased liabilities and increased capital expenditures.
- The company operates in a competitive organised and unorganised industry with low barriers to entry and may be unable to compete with a range of unorganized players.
- Fraud or misconduct by our employees could adversely affect our reputation, business, results of operations and financial condition.
- A downgrade in the company credit rating could adversely affect its ability to raise capital in the future.
- Information relating to its annual installed capacity, annual average available capacity and the historical capacity utilization of the company Manufacturing Facility included in this Red Herring Prospectus is based on various assumptions and estimates and future production and capacity utilization may vary.
- The company is dependent on information technology systems in carrying out its business activities and it forms an integral part of the company business. Further, if it is unable to adapt to technological changes and successfully implement new technologies or if it face failures of the company information technology systems, it may not be able to compete effectively which may result in higher costs and would adversely affect its business and results of operations.
- The company success depends upon its ability to attract, develop and retain trained manpower while also maintaining low labour costs.
- The company insurance coverage may not be adequate to protect it against all potential losses, which may have a material adverse effect on its business, financial condition and results of operations.
- The company Promoters and members of the Promoter Group have significant control over the Company and have the ability to direct its business and affairs; their interests may conflict with your interests as a shareholder.
- The average cost of acquisition of Equity Shares held by the company Promoters could be lower than the Issue Price.
- The shortage or non-availability of power may adversely affect its business, result of operations, financial conditions and cash flows.
- The company future fund requirements, in the form of further issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the Shareholders depending upon the terms on its they are eventually raised.
- In addition to its existing indebtedness for the company existing operations, it may incur further indebtedness during the course of business. The company cannot assure that its would be able to service the company's existing and/ or additional indebtedness.
- The company's inability to meet the company obligations, including financial and other covenants under debt financing arrangements could adversely affect the company business, results of operations and financial condition. If it is unable to raise additional capital on favourable terms, or at all, its business, results of operations and financial condition could adversely affected.
- The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company financing arrangements.
- If the company is unable to establish and maintain an effective system of internal controls and compliances, the company businesses and reputation could be adversely affected.
- The company financial performance may be adversely affected if it is not successful in forecasting customer demands, managing its inventory levels.
- Certain unsecured loans have been availed by it from Promoter and Managing Director Mr. Rupesh Pravinbhai Shah, which is repayable on demand, could adversely affect the company cash flows, liquidity position, and ability to finance operations and business growth in the event of such repayment demands.
- The company overall margins may fluctuate as a result of the product manufactured by it.
- The company intend to utilise the Net Issue Proceeds for funding its capital expenditure requirements and the company is yet to place entire orders for such capital expenditure requirements. There is no assurance that we would be able to source such capital expenditure requirements in a timely manner or at commercially acceptable prices, which could adversely affect its expansion plans.
- The company is heavily dependent on machinery for its operations and its has not entered into any technical support service agreements for the maintenance and smooth functioning of the company machineries.
- The company has not independently verified data from the industry and related data contained in this RHP.
- The requirements of being a listed company may strain its resources.
- The Equity Shares have never been publicly traded and the Issue may not results in an actives or liquid market for the Equity Shares.
- There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of BSE in a timely manner or at all.
- There is no existing market for its Equity Shares, and the company do not know if one will develop to provide you with adequate liquidity. Further, an active trading market for the Equity Shares may not develops and the price of the Equity Shares may be volatile.
- The prices of the Equity Shares may be highly volatile after the Issue.
- You will not be able to sell immediately on the Stock Exchanges any of the Equity Shares you purchases in the Issue.
- There is restrictions on daily movements in the trading price of the Equity Shares, The company may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
- The price of the Equity Shares may be volatile, its could result in substantial losses for investors acquiring the Equity Shares in the Issue.
- Any futures issuance of Equity Shares, or convertible securities or other equity-linked securities by the Company may dilute your shareholding and any sale of Equity Shares by its Promoter or members of the company Promoter Group may adversely affect the trading price of the Equity Shares.
- Sale of Equity Shares by the company Promoter or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
The Issue type of HRS Aluglaze Ltd is Book Building - SME.
The minimum application for shares of HRS Aluglaze Ltd is 2400.
The total shares issue of HRS Aluglaze Ltd is 5304000.
Initial public offer of up to 53,04,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of HRS Aluglaze Limited ("HRS" Of "The"Company") at an issue price of Rs. 96 per equity share (Including A Share Premium Of Rs. 86 Per Equity Share) for cash, aggregating up to Rs. 50.92 crores ("Public Issue") out of which 2,74,800 equity shares of face value of Rs. 10/- each,at an issue price of Rs. 96 per equity share for cash, aggregating Rs. 2.64 crores will be reserved for subscription by the market maker to the issue (The "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. issue of 50,29,200 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 96 per equity share for cash, aggregating up to Rs. 48.28 crores is hereinafter referred to as the "net issue". The public issue and net issue will constitute 27.51 % and 26.08 % respectively of the post- issue paid-up equity share capital of the company.
The face value of the equity share is Rs. 10 each and the issue price is Rs. 96/-
Anchor investor issue price Rs: Rs.96/- per equity share
The issue price is 9.6 times of the face value of the equity share.