Kanishk Aluminium IPO is opening for subscription on January 28, 2026 and will close on January 30, 2026. This is a Fixed Price SME IPO through which the company plans to raise around ₹29.20 crores. The entire issue consists of a fresh issue of ₹29.20 crores with equity shares having a face value of ₹10 each.
The IPO is proposed to be listed on BSE SME, with the listing scheduled for February 4, 2026. The basis of allotment is expected to be finalised on February 2, 2026. The issue price for Kanishk Aluminium IPO is fixed at ₹73 per share. The issue is reserved 50% for Retail Investors and 50% for Non-Institutional Investors (NII), while there is no QIB portion in this issue.
Contents
Kanishk Aluminium IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | January 28, 2026 |
| IPO Close Date | January 30, 2026 |
| Face Value | ₹10 per Equity Share |
| IPO Price | ₹73 per Share |
| Issue Size | Approx ₹29.20 Crores |
| Fresh Issue | Approx ₹29.20 Crores |
| Issue Type | Fixed Price Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | View PDF |
| RHP Draft Prospectus | View PDF |
Kanishk Aluminium IPO
Open: 28-30 Jan
Issue Size: ₹29.20 Cr.
Objective: Repay/pre-pay borrowings, boost ‘Baari by Kanishk’ branding, and support growth.
Exchange: BSE SME
Kanishk Aluminium IPO Review
Kanishk Aluminium has shown steady operational performance with improving profitability over the last financial year. While revenue growth has remained stable, the company’s profit has doubled from ₹1.52 crores in FY2024 to ₹3.04 crores in FY2025, reflecting better cost control and operational efficiency.
The debt-to-equity ratio remains moderate, and return ratios are stable for an SME manufacturing company. However, limited scale and SME-segment liquidity risks should be considered. The IPO may suit investors looking for long-term exposure to the aluminium manufacturing segment.
Track GMP: Kanishk Aluminium IPO GMP Today
Kanishk Aluminium IPO Market Lot
The minimum market lot for Kanishk Aluminium IPO is 3,200 shares, requiring an investment of ₹2,33,600.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 3,200 | ₹2,33,600 |
| Retail Maximum | 2 | 3,200 | ₹2,33,600 |
| S-HNI Minimum | 3 | 4,800 | ₹3,50,400 |
IPO Reservation
| Investor Category | Shares Offered | % Shares |
|---|---|---|
| Anchor Investor | – | – |
| QIB (Ex-Anchor) | – | 0% |
| NII | 18,99,200 Shares | 47.48% |
| Retail | 19,00,800 Shares | 47.52% |
Kanishk Aluminium IPO Anchor Investors
| Particulars | Details |
|---|---|
| Anchor Bidding Date | January 28, 2026 |
| Anchor Investors List | View PDF |
| Shares Offered | – |
| Anchor Size | – Cr |
| Lock-in End Date (50% – 30 Days) | March 4, 2026 |
| Lock-in End Date (50% – 90 Days) | May 3, 2026 |
Kanishk Aluminium IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | January 28, 2026 |
| IPO Close Date | January 30, 2026 |
| Basis of Allotment | February 2, 2026 |
| Refunds | February 3, 2026 |
| Credit to Demat Account | February 3, 2026 |
| IPO Listing Date | February 4, 2026 |
| IPO Bidding Cut-off Time | January 30, 2026 – 5 PM |
Promoters and Holding Pattern
The promoters of Kanishk Aluminium India Limited are Mr. Parmanand Agarwal, Mrs. Khusboo Agarwal, and Mr. Ashish Agarwal.
| Particulars | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 94,40,000 | 99.99% |
| Promoter Holding Post Issue | 1,34,40,000 | 70.24% |
Objects of the Issue
The company intends to utilise the IPO proceeds mainly to strengthen its financial position and brand presence. A major portion of ₹19.50 crores will be used towards repayment or pre-payment of certain borrowings, which is expected to reduce interest burden.
Around ₹0.80 crores will be allocated for branding and promotion of the company’s brand, ‘Baari by Kanishk’. The remaining ₹4.32 crores will be used for general corporate purposes to support business operations and growth initiatives.
About Kanishk Aluminium India Limited
Kanishk Aluminium India Limited operates in the aluminium manufacturing segment, catering to industrial and consumer applications. The company has maintained stable revenues over recent years while significantly improving profitability in FY2025 due to better cost management.
Reduction in expenses and planned debt repayment post IPO are expected to improve margins further. Asset growth and improving return ratios indicate a strengthening balance sheet. While the business operates in a competitive and cyclical sector, controlled leverage and consistent demand for aluminium products support long-term sustainability.
Kanishk Aluminium IPO Company Financial Report
Amount in ₹ Crores
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | 59.68 | 57.83 | 1.76 | 37.11 |
| 2024 | 59.54 | 57.74 | 1.52 | 41.09 |
| 2025 | 60.13 | 55.93 | 3.04 | 50.50 |
| Aug 2025 | 29.25 | 26.34 | 2.15 | 60.47 |
Kanishk Aluminium IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE | 20.21% |
| ROCE | 14.61% |
| EBITDA Margin | 11.10% |
| PAT Margin | 5.09% |
| Debt to Equity Ratio | 1.37 |
| EPS | ₹3.22 (Basic) |
| P/E Ratio | 22.67 |
| RoNW | 20.21% |
| NAV | ₹17.56 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW | NAV | Income |
|---|---|---|---|---|---|
| Maan Aluminum Limited | 2.87 | 55.84 | 9.00% | 32.99 | ₹810.17 Cr |
| Banco Products (India) Limited | 27.39 | 24.79 | 30.01% | 91.08 | ₹3,212.52 Cr |
IPO Lead Managers (Merchant Bankers)
Sun Capital Advisory Services Pvt. Ltd.
Company Address
| Particulars | Details |
|---|---|
| Company Name | Kanishk Aluminium India Ltd |
| Address | Plot No. E-849 A, Fourth Phase RIICO, Boranada |
| City | Jodhpur |
| State | Rajasthan |
| Pincode | 342001 |
| Phone | +91 92570 61994 |
| cs@kanishkindia.co.in | |
| Website | https://kanishkindia.co.in |
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222 / 04079611000
Email: kal.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Kanishk Aluminium IPO FAQs
What is Kanishk Aluminium IPO?
Kanishk Aluminium IPO is an SME IPO raising ₹29.20 crores at a fixed price of ₹73 per share and will be listed on BSE SME.
When will Kanishk Aluminium IPO open for subscription?
The IPO opens on January 28, 2026 and closes on January 30, 2026.
What is the investor portion in Kanishk Aluminium IPO?
Retail investors have 50% reservation and NII investors have 50%. There is no QIB portion.
How to apply for Kanishk Aluminium IPO?
You can apply via ASBA through net banking, UPI via stockbrokers, or by submitting an offline IPO application form.
What is the issue size of Kanishk Aluminium IPO?
The total issue size is ₹29.20 crores.
What is the price of Kanishk Aluminium IPO?
The IPO price is fixed at ₹73 per equity share.
What is the lot size of Kanishk Aluminium IPO?
The minimum application size is 3,200 shares amounting to ₹2,33,600.
What is the allotment date of Kanishk Aluminium IPO?
The allotment is expected to be finalised on February 2, 2026.
What is the listing date of Kanishk Aluminium IPO?
The IPO is scheduled to list on BSE SME on February 4, 2026.
Expert Comment
Kanishk Aluminium IPO is a small-sized SME issue focused on balance sheet strengthening through debt reduction. While revenue growth is modest, improving profitability and stable return ratios are positive indicators. Investors with a long-term outlook and understanding of SME-segment risks may consider this IPO cautiously.
