Comparison between HRS Aluglaze IPO and Siddhi Cotspin IPO.
HRS Aluglaze IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Siddhi Cotspin IPO is a SME Bookbuilding proposed to list at NSE SME.
| HRS Aluglaze IPO | Siddhi Cotspin IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | BSE SME | NSE SME |
| Lead Managers | Cumulative Capital Pvt.Ltd. | Swastika Investmart Ltd. |
| Registrar | Purva Sharegistry (India) Pvt.Ltd. | Kfin Technologies Ltd. |
| Market Maker | MNM Stock Broking Pvt.Ltd. | Jevin Stock Broker Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of HRS Aluglaze IPO is up to ₹48.28 Cr whereas the issue size of the Siddhi Cotspin IPO is up to ₹66.36 Cr. The final issue price of HRS Aluglaze IPO is ₹96.00 per share and of Siddhi Cotspin IPO is ₹108.00 per share.
| HRS Aluglaze IPO | Siddhi Cotspin IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹94.00 per share | ₹102.00 per share |
| Issue Price (Upper) | ₹96.00 per share | ₹108.00 per share |
| Issue Price (Final) | ₹96.00 per share | ₹108.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1200 shares | 1200 shares |
| Fresh Issue Size | 50,29,200 shares | 46,20,000 shares |
| Fresh Issue Size (Amount) | up to ₹48.28 Cr | up to ₹49.90 Cr |
| OFS Issue Size | 0 shares | 15,24,000 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹16.46 Cr |
| Issue Size Total | 50,29,200 shares | 61,44,000 shares |
| Issue Size Total (Amount) | up to ₹48.28 Cr | up to ₹66.36 Cr |
HRS Aluglaze IPO opens on Dec 11, 2025, while Siddhi Cotspin IPO opens on Sep 19, 2025. The closing date of HRS Aluglaze IPO and Siddhi Cotspin IPO is Dec 15, 2025, and Sep 23, 2025, respectively.
| HRS Aluglaze IPO | Siddhi Cotspin IPO | |
|---|---|---|
| Anchor Bid Date | Dec 10, 2025 | |
| Issue Open | Dec 11, 2025 | Sep 19, 2025 |
| Issue Close | Dec 15, 2025 | Sep 23, 2025 |
| Basis Of Allotment (Tentative) | Dec 16, 2025 | Sep 24, 2025 |
| Initiation of Refunds (Tentative) | Dec 17, 2025 | Sep 25, 2025 |
| Credit of Share (Tentative) | Dec 17, 2025 | Sep 25, 2025 |
| Listing date (Tentative) | Dec 18, 2025 | Sep 26, 2025 |
| Anchor Lockin End date 1 | Jan 13, 2026 | |
| Anchor Lockin End date 2 | Mar 14, 2026 |
HRS Aluglaze IPO P/E ratio is 26.07, as compared to Siddhi Cotspin IPO P/E ratio of 16.06.
| HRS Aluglaze IPO | Siddhi Cotspin IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | 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.
| Company Financials (Restated)Siddhi Cotspin Ltd.'s revenue increased by 25% and profit after tax (PAT) rose by 7% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 100 | 85.57 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 72.49 | 65.56 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 26.07 | 16.06 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹185.11 Cr. | ₹263.59 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 34.24 | 17.95 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 15.97 | 14.88 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 1.92 | 0.84 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹3.68 | ₹6.72 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 34.24 | 16.47 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the HRS Aluglaze IPO Retail Individual Investors (RII) are offered 17,85,600 shares while in Siddhi Cotspin IPO retail investors are offered 17,85,600 shares. Qualified Institutional Buyers (QIB) are offered 14,43,600 shares in HRS Aluglaze IPO and 6,14,400 shares in Siddhi Cotspin IPO.
| HRS Aluglaze IPO | Siddhi Cotspin IPO | |
|---|---|---|
| Anchor Investor Reservation | 10,44,000 shares | 0 shares |
| Market Maker Reservation | 2,74,800 shares | 3,24,000 shares |
| QIB | 14,43,600 shares | 6,14,400 shares |
| NII | 7,56,000 shares | 16,58,400 shares |
| RII | 17,85,600 shares | 38,71,200 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 50,29,200 shares | 61,44,000 shares |
HRS Aluglaze IPO subscribed 35.53x in total, whereas Siddhi Cotspin IPO subscribed 3.99x.
| HRS Aluglaze IPO | Siddhi Cotspin IPO | |
|---|---|---|
| QIB (times) | 19.48x | 17.53x |
| NII (times) | 82.13x | 4.78x |
| Big NII (times) | 98.16x | 6.70x |
| Small NII (times) | 50.07x | 0.95x |
| RII (times) | 49.54x | 1.50x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 35.53x | 3.99x |
