Comparison between EPW India IPO and HRS Aluglaze IPO.
EPW India IPO is a SME Bookbuilding IPO proposed to list at NSE SME while HRS Aluglaze IPO is a SME Bookbuilding proposed to list at BSE SME.
| EPW India IPO | HRS Aluglaze IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | NSE SME | BSE SME |
| Lead Managers | GetFive Advisors Pvt.Ltd. | Cumulative Capital Pvt.Ltd. |
| Registrar | Bigshare Services Pvt.Ltd. | Purva Sharegistry (India) Pvt.Ltd. |
| Market Maker | SMC Global Securities Ltd. | MNM Stock Broking Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | Anchor Investor |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of EPW India IPO is up to ₹30.22 Cr whereas the issue size of the HRS Aluglaze IPO is up to ₹48.28 Cr. The final issue price of EPW India IPO is ₹97.00 per share and of HRS Aluglaze IPO is ₹96.00 per share.
| EPW India IPO | HRS Aluglaze IPO | |
|---|---|---|
| Face Value | ₹5 per share | ₹10 per share |
| Issue Price (Lower) | ₹95.00 per share | ₹94.00 per share |
| Issue Price (Upper) | ₹97.00 per share | ₹96.00 per share |
| Issue Price (Final) | ₹97.00 per share | ₹96.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1200 shares | 1200 shares |
| Fresh Issue Size | 31,15,200 shares | 50,29,200 shares |
| Fresh Issue Size (Amount) | up to ₹30.22 Cr | up to ₹48.28 Cr |
| OFS Issue Size | 0 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹0.00 Cr |
| Issue Size Total | 31,15,200 shares | 50,29,200 shares |
| Issue Size Total (Amount) | up to ₹30.22 Cr | up to ₹48.28 Cr |
EPW India IPO opens on Dec 22, 2025, while HRS Aluglaze IPO opens on Dec 11, 2025. The closing date of EPW India IPO and HRS Aluglaze IPO is Dec 24, 2025, and Dec 15, 2025, respectively.
| EPW India IPO | HRS Aluglaze IPO | |
|---|---|---|
| Anchor Bid Date | Dec 19, 2025 | Dec 10, 2025 |
| Issue Open | Dec 22, 2025 | Dec 11, 2025 |
| Issue Close | Dec 24, 2025 | Dec 15, 2025 |
| Basis Of Allotment (Tentative) | Dec 26, 2025 | Dec 16, 2025 |
| Initiation of Refunds (Tentative) | Dec 29, 2025 | Dec 17, 2025 |
| Credit of Share (Tentative) | Dec 29, 2025 | Dec 17, 2025 |
| Listing date (Tentative) | Dec 30, 2025 | Dec 18, 2025 |
| Anchor Lockin End date 1 | Jan 24, 2026 | Jan 13, 2026 |
| Anchor Lockin End date 2 | Mar 25, 2026 | Mar 14, 2026 |
EPW India IPO P/E ratio is 18.36, as compared to HRS Aluglaze IPO P/E ratio of 26.07.
| EPW India IPO | HRS Aluglaze IPO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated Consolidated)EPW India Ltd.'s revenue increased by 188% and profit after tax (PAT) rose by 485% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated Consolidated)HRS Aluglaze Ltd.'s revenue increased by 56% and profit after tax (PAT) rose by 188% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 100 | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 71.43 | 72.49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 18.36 | 26.07 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹111.35 Cr. | ₹185.11 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 139.17 | 34.24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 35.03 | 15.97 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 2.32 | 1.92 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹5.28 | ₹3.68 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 82.06 | 34.24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the EPW India IPO Retail Individual Investors (RII) are offered 10,92,000 shares while in HRS Aluglaze IPO retail investors are offered 10,92,000 shares. Qualified Institutional Buyers (QIB) are offered 6,22,800 shares in EPW India IPO and 14,43,600 shares in HRS Aluglaze IPO.
| EPW India IPO | HRS Aluglaze IPO | |
|---|---|---|
| Anchor Investor Reservation | 9,32,400 shares | 10,44,000 shares |
| Market Maker Reservation | 1,64,400 shares | 2,74,800 shares |
| QIB | 6,22,800 shares | 14,43,600 shares |
| NII | 4,68,000 shares | 7,56,000 shares |
| RII | 10,92,000 shares | 17,85,600 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 31,15,200 shares | 50,29,200 shares |
EPW India IPO subscribed 0.92x in total, whereas HRS Aluglaze IPO subscribed 35.53x.
| EPW India IPO | HRS Aluglaze IPO | |
|---|---|---|
| QIB (times) | 1.17x | 19.48x |
| NII (times) | 1.53x | 82.13x |
| Big NII (times) | 0.98x | 98.16x |
| Small NII (times) | 2.63x | 50.07x |
| RII (times) | 1.31x | 49.54x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 0.92x | 35.53x |
