HRS Aluglaze Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, confirming the utilization of ₹24.78 crore from its ₹50.92 crore IPO proceeds without any deviations from the stated objects. The report was prepared by Brickwork Ratings India Private Limited and submitted to BSE Limited under Regulation 262 of SEBI ICDR Regulations.

IPO Proceeds Utilization Overview

The company raised ₹50.92 crore through a fresh issue of 53,04,000 equity shares at ₹96 per share during December 10-15, 2025. The monitoring report confirms no deviation in the utilization of issue proceeds from the objects stated in the prospectus.

Object-wise Fund Deployment

The company has deployed funds across four primary objects as outlined in its prospectus. The largest allocation has been towards working capital requirements, followed by capital expenditure for the new facility.

Capital Expenditure Progress

HRS Aluglaze Limited has allocated ₹18.30 crore for setting up assembly and glass glazing line at Rajoda, Ahmedabad for façade work. During the quarter, the company utilized ₹4.37 crore towards this objective, with ₹13.93 crore remaining for deployment. The project timeline extends up to Financial Year 2026-27.

Unutilized Funds Management

The company has strategically deployed ₹26.14 crore of unutilized proceeds across various financial instruments to optimize returns. The deployment includes bank deposits and fixed deposits with State Bank of India offering 6.25% returns with maturity dates extending to December 24, 2026.

Regulatory Compliance

The monitoring report was signed by Company Secretary Siddhi Mangal and submitted to BSE Limited on February 13, 2026. Brickwork Ratings confirmed that all utilization aligns with disclosures in the offer document and no material deviations have been observed. The company has obtained all necessary government and statutory approvals related to the stated objects.

HRS Aluglaze Limited has announced the execution of a significant business asset transfer agreement with Geotrix Building Envelope Private Limited, marking a strategic move in the façade and engineering services sector. The company disclosed this development through a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Transaction Overview

The agreement involves the transfer of a specialized business unit that provides comprehensive turnkey solutions in façade services, design engineering, and architectural precast. The transaction is structured as a slump sale, ensuring the transfer of the business as a going concern with all associated assets.

Business Unit Details

The transferred business unit specializes in providing turnkey solutions across multiple segments of the construction and building envelope industry. The transaction encompasses both tangible and intangible assets, ensuring a complete transfer of operational capabilities and intellectual property associated with the business.

The agreement covers the acquisition of existing assets for business expansion purposes, positioning the acquiring entity to leverage established capabilities in the façade and engineering services market.

Regulatory Compliance and Transaction Structure

HRS Aluglaze Limited has confirmed that this transaction does not constitute a related party transaction, as Geotrix Building Envelope Private Limited has no relationship with the company's promoter, promoter group, or group companies. The company holds no shareholding in the acquiring entity.

Management Authorization

The company has authorized Mr. Rupesh P. Shah, Managing Director (DIN: 02806068), to execute all necessary deeds, documents, agreements, and papers on behalf of HRS Aluglaze Limited for this transaction. This authorization ensures streamlined execution of the asset transfer process.

The transaction represents a strategic divestment for HRS Aluglaze Limited while providing Geotrix Building Envelope Private Limited with established capabilities in the specialized façade and engineering services sector.