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HRS Aluglaze Limited is an Ahmedabad-based company specializing in the design, manufacturing, and installation of a wide range of aluminium products, including windows, doors, curtain walls, cladding, and glazing systems. The company provides customized architectural solutions for commercial, residential, industrial, and institutional projects. Its manufacturing facility in Rajoda, Ahmedabad, is equipped with CNC machinery and in-house powder coating capabilities. HRS Aluglaze holds ISO 9001:2015 and MSME ZED Bronze certifications, underscoring its commitment to quality and sustainability. The company plans to expand its manufacturing capacity to cater to a growing project pipeline, which stood at ₹103.07 crores as of September 2025.
Dec 11, 2025
Dec 15, 2025
Dec 18, 2025
SME
Closed
50.92 Cr
50.92 Cr
0 Cr
₹94 - ₹96
1200
Our Company needs to utilise the Net Proceeds of the Issue for the following objects:
Funding capital expenditure of ₹18.30 crores to set up an assembly & glass glazing line at the company's existing location in Rajoda, Ahmedabad, to enhance production capabilities for façade work.
Utilizing ₹19.00 crores to fund the growing working capital requirements of the company, driven by an increased scale of business, higher inventory levels, and the financing of trade receivables.
Allocating the remaining funds for general corporate purposes, including business development initiatives, administrative expenses, and other operational costs, not exceeding 15% of the gross proceeds or ₹10 crores, whichever is lower.
26.07
3.68
34.24%
15.97%
34.24%
—
12.22%
25.42%
6.53
Use of advanced materials like smart glass and integration of Building Information Modeling (BIM) for precise design and installation.
Growing demand for energy-efficient solutions where facades and fenestration play a critical role in reducing building energy consumption.
Facades enhance the visual appeal of buildings while providing essential functionality such as weather resistance and insulation.
Increasing use of eco-friendly and recyclable materials like aluminum and uPVC, aligning with green building certifications such as LEED and BREEAM.
High initial costs for advanced facade and energy-efficient fenestration systems can be a barrier to adoption in cost-sensitive markets.
The complex installation and maintenance processes for modern facade systems require skilled labor and specialized equipment.
The industry is highly dependent on the growth of the construction sector, making it vulnerable to economic downturns and cyclicality.
Compliance with varying building codes and standards across different regions can be complex, costly, and time-consuming.
The rising demand for green buildings and sustainability in construction creates significant opportunities for innovative facade and fenestration solutions.
Rapid urbanization and large-scale infrastructure development in emerging markets drive demand for modern building systems.
Technological innovations such as smart facades with self-cleaning glass and photovoltaic integration offer new market avenues.
A growing market for retrofitting and renovating existing buildings with energy-efficient facades and fenestration systems.
The industry is vulnerable to economic downturns, which can reduce construction activity and overall demand for facade systems.
Dependence on raw materials like aluminum, glass, and steel makes the industry susceptible to supply chain disruptions and price fluctuations.
Intense competition from both global and regional players can lead to price wars and a reduction in profit margins.
Increasingly stringent building codes and environmental regulations can raise compliance costs and create market barriers.