HRS Aluglaze Shares Soar 31% on Debut, Hit Upper Circuit

• HRS Aluglaze shares debuted on December 18 at Rs 126 on BSE SME, a 31% premium over its Rs 96 IPO price.
• The stock quickly hit a 5% upper circuit at Rs 132.30, closing with a market capitalization of Rs 255.10 crore.
• The listing premium of 31% surpassed grey market estimates, which predicted around 23% GMP.
• The company's IPO, which raised Rs 50.92 crore, was subscribed nearly 45 times between December 11 and December 15.
• Proceeds from the IPO will fund capacity expansion, new projects, working capital, and general corporate purposes.

Why It Matters: HRS Aluglaze made a strong market debut, listing at a significant premium and hitting the upper circuit.