- Issue price
- ₹73per share
- Issue size
- ₹29.2 Cr40,00,000 shares
- Face value
- ₹10per equity share
- Lot size
- 1,600 sharesMin. ₹1.17 L at the upper price
- OpensWed, 2026
- ClosesFri, 2026
- AllotmentTue, 2026Refunds and Demat credit same day
- ListingWed, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Fixed price, fresh issue
- Fresh issue
- 40,00,000 shares (₹29.2 Cr)
- Offer for sale
- None
- Total issue
- 40,00,000 shares (₹29.2 Cr)
- Market maker portion
- 2,00,000 shares
- Face value
- ₹10
- Listing at
- BSE SME
- Promoter holding
- 99.99% → 70.24%
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail47.5%
- NII47.5%
- Market maker5.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 19,00,800 | 50.02% | 50% |
| Non-institutional investors (NII) | 18,99,200 | 49.98% | — |
| Market maker | 2,00,000 | — | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹73 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 2 | 3,200 | ₹2.34 L |
| Small NII (₹2–10 lakh) | 3 | 4,800 | ₹3.5 L |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
Period ended August 31, 2025 (annualised), pre-issue- EPS (basic)
- ₹5.47
- EPS (basic) (FY 2024-25)
- ₹3.22
- EPS (basic) (FY 2023-24)
- ₹1.92
- EPS (basic) (FY 2022-23)
- ₹2.25
- RoNW
- 29.21%
- RoNW (FY 2024-25)
- 20.21%
- RoNW (FY 2023-24)
- 15.59%
- RoNW (FY 2022-23)
- 34.41%
- NAV per share (Period ended August 31, 2025)
- ₹19.83
- NAV per share (FY 2024-25)
- ₹17.56
- NAV per share (FY 2023-24)
- ₹22.93
- NAV per share (FY 2022-23)
- ₹12.26
- ROCE (FY 2024-25)
- 14.61%
- Debt to equity (FY 2024-25)
- 1.37
- EBITDA margin (FY 2024-25)
- 11.10%
- PAT margin (FY 2024-25)
- 5.09%
Source: ProspectusUpdated
Financials
Standalone, restated · ₹ crore| Period ended | 31 Aug 20255 months | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|---|
| Revenue from operations | 29.18 | 59.78 | 59.30 | 59.16 |
| Total income | 29.25 | 60.13 | 59.54 | 59.68 |
| EBITDA | 4.08 | 6.63 | 4.50 | 4.06 |
| Profit after tax | 2.15 | 3.04 | 1.52 | 1.76 |
| Net worth | 18.72 | 16.57 | 13.53 | 6.01 |
| Reserves and surplus | 9.28 | 7.13 | 7.63 | 1.11 |
| Total assets | 60.47 | 50.50 | 41.09 | 37.11 |
| Total borrowing | 25.55 | 22.74 | 20.84 | 26.45 |
FY 2024-25 vs FY 2023-24: revenue +0.8%, profit after tax +99.7%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
The company manufactures aluminium extrusion products, including profiles, heatsinks, railings and windows and doors, for industries such as automotive, electronics, solar and construction. It also sells premium aluminium door and window systems under the 'Baari by Kanishk' brand, launched in 2024.
- Incorporated
- 2018
- Industry
- Aluminium Extrusions
- CIN
- U27109RJ2018PLC063198
- Website
- kanishkindia.co.in
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue |
|---|---|---|---|
| Ashish Agarwal | Promoter | — | — |
| Parmanand Agarwal | Promoter | 83.05% | 58.33% |
| Khushboo Agarwal | Promoter | 16.94% | 11.91% |
| Anil Agarwal | Public | — | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Repayment or prepayment of certain borrowings | 19.50 |
| Branding and promotion of the 'Baari by Kanishk' brand | 0.80 |
| General corporate purposes | 4.32 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Manufactures a broad range of aluminium extrusion products serving several end-use industries.
- Has its own consumer brand for premium aluminium doors and windows, with a showroom network.
- Net worth has grown substantially between FY2023 and the period ended August 31, 2025.
- Restated accounts carry no auditor qualifications that were not given effect.
Risks
- A large share of revenue, about 88% from the top ten customers in the period ended August 31, 2025, comes from a small customer base without long-term contracts.
- Top ten suppliers accounted for roughly 75% to 90% of purchases in each period, creating supply concentration.
- Promoter group entities have similar business interests and there is no formal non-compete agreement.
- There have been delayed statutory filings and payments such as GST, PF and ESIC in the past.
- There has been no prior public market for the shares, so the price after listing may be volatile or illiquid.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹73) appear here after the shares list on BSE SME.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Kanishk Aluminium India IPO open and close?
According to the Prospectus, the issue opens on Wednesday, 28 January 2026 and closes on Friday, 30 January 2026.
What is the Kanishk Aluminium India IPO price band?
The final issue price is ₹73 per share.
What is the lot size of the Kanishk Aluminium India IPO?
One lot is 1,600 shares, which is ₹1.17 L at ₹73 per share.
Where will Kanishk Aluminium India shares list?
On BSE SME. The tentative listing date is Wednesday, 4 February 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the Kanishk Aluminium India IPO allotment status?
The basis of allotment is expected to be finalised on Tuesday, 3 February 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited) or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹19.5 Cr for repayment or prepayment of certain borrowings, ₹79.75 L for branding and promotion of the 'Baari by Kanishk' brand, ₹4.32 Cr for general corporate purposes.
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