What is the GMP of Kanishk Aluminium India Limited IPO today?

The Grey Market Premium (GMP) for Kanishk Aluminium India Limited IPO is currently ₹4. With an upper price band of ₹73, the estimated listing price is ₹77 per share, reflecting an expected listing gain of ~5.48%. Grey market premiums can fluctuate based on market sentiment and subscription demand.

What is the price band and lot size for Kanishk Aluminium India Limited IPO?

The price band for Kanishk Aluminium India Limited IPO is ₹73 to ₹73 per equity share. The minimum lot size is 1600 shares, which requires a minimum retail application investment of ₹1,16,800.

What are the important dates for Kanishk Aluminium India Limited IPO?

Kanishk Aluminium India Limited IPO opens for subscription on 2026-01-28T00:00:00 and closes on 2026-01-30T00:00:00. The basis of allotment is scheduled for 2026-02-02T00:00:00, and shares are expected to list on 2026-02-04T00:00:00 on BSE, NSE.

How can I check the allotment status for Kanishk Aluminium India Limited IPO?

You can check Kanishk Aluminium India Limited IPO allotment status on the registrar's official portal (KFin Technologies Limited) or through the official BSE and NSE IPO allotment status pages using your PAN number or Application number.

How to apply for Kanishk Aluminium India Limited IPO?

Investors can apply for Kanishk Aluminium India Limited IPO online through ASBA (Application Supported by Blocked Amount) via their internet banking account, or via UPI using authorized stockbroking platforms like Zerodha, Groww, Angel One, and Upstox.

When does the Kanishk Aluminium India Limited IPO open and close?

The IPO opens on 28 Jan 2026, and closes on 30 Jan 2026.

What is Kanishk Aluminium India Limited IPO price band?

The issue price band is ₹73.00 per equity share.

What is the Kanishk Aluminium India Limited IPO lot size?

The minimum lot size is 1600 shares per application.

What is the Kanishk Aluminium India Limited IPO allotment date?

The allotment is scheduled on 2 Feb 2026.

Kanishk Aluminium India Limited IPO Details - Dates, Price Band, Issue Size

All IPOs

Issue Size

29.00 Cr

Price Band

₹73.00

Lot Size

1600 Shares

Min Investment

₹2,33,600

GMP

₹4

Subscription

1.04x

₹28.92 Cr

28 Jan 2026

IPO Opens

COMPLETED

30 Jan 2026

IPO Closes

COMPLETED

02 Feb 2026

Basis of Allotment

COMPLETED

03 Feb 2026

Refunds

COMPLETED

03 Feb 2026

Demat Credit

COMPLETED

04 Feb 2026

Listing

COMPLETED

IPO Timeline

IPO OpensDONE

28 Jan 2026

IPO ClosesDONE

30 Jan 2026

Basis of AllotmentDONE

02 Feb 2026

RefundsDONE

03 Feb 2026

Demat CreditDONE

03 Feb 2026

ListingDONE

04 Feb 2026

About Kanishk Aluminium India Limited IPO

Kanishk Aluminium IPO open date is January 28, 2026 and the IPO will close on January 30, 2026. Kanishk Aluminium IPO is a Fixed Price Issue. The company to raise around ₹29.20 crores via IPO that comprises fresh issue of ₹29.20 crores and offer for sale up to [.] equity shares with face value of ₹10 each.

Kanishk Aluminium IPO price band is ₹73 per share. The retail quota is 50%, QIB is 00%, and HNI is 50%. Kanishk Aluminium IPO to list on BSE SME on February 4, 2026. The allotment of Kanishk Aluminium IPO date is February 2, 2026.

The company reported revenue of ₹60.13 crores in 2025 against ₹59.54 crores in 2024. The company reported profit of ₹3.04 crores in 2025 against profit of ₹1.52 crores in 2024. As per the financials the IPO investors should apply the IPO for a long term.

IPO Details

Kanishk Aluminium India Limited IPO Details and Specifications
IPO Date	28 Jan 2026 to 30 Jan 2026
Face Value	₹10 Per Share
Price Band	₹73.00
Lot Size	1600 Shares
Total Issue Size	Approx 29.00 Cr 40,00,000 Equity Shares
Fresh Issue	Approx 28.00 Cr 40,00,000 Equity Shares
Offer for Sale	Approx 0.00 Cr 0 Equity Shares
Retail Portion	50.02%
Sale Type	Fresh Issue
Issue Type	Fixed Price Issue
Listing Date	04 Feb 2026
Listing At	BSE
Total Subscription Amount	₹28.92 Cr

Issue Reservation

Investor Category	Shares Offered	% Net Issue
NII	18,99,200	49.98%
Retail	19,00,800	50.02%
Total	38,00,000	100.00%
- QIB (Ex. Anchor)	TBA	0.00%

IPO Lot Size

Application	Lots	Shares	Amount
NII	3	4,800	₹3,50,400
Individual investors (Retail) (Min)	2	3,200	₹2,33,600
Individual investors (Retail) (Max)	2	3,200	₹2,33,600

About Company

Incorporated in 2022, Kanishk Aluminium India Ltd. is a Jodhpur-based manufacturer specialising in a wide range of aluminium extrusion products. The company operates from a modern 4,000 sq. metre facility in the "Blue City" of Rajasthan.

Kanishk Aluminium serves multiple sectors, including electronics, automotive, solar, furniture, transport, electrical, and architecture, through its diverse and customised aluminium profile solutions.

Product Portfolio:

Aluminium Extrusions: Includes solid and hollow section profiles, solar profiles, heatsinks, railings, sliding/fixed window and door profiles
Engineering Products: Channels, sections, flat bars, and tubes with various finishes, tolerances, and tempers.
Hardware & Architectural Solutions: Kitchen profiles, railing systems, and other customised architectural applications.

As of November 30, 2025, the company employed 46 personnel responsible for operations, quality control, administration, and business functions.

Contact Details

Kanishk Aluminium India Ltd

Plot No. E-849 A

Fourth Phase RIICO

Boranada

Jodhpur, Rajasthan, 342001

+91 92570 61994

cs@kanishkindia.co.in

Visit Website

Registrar

KFin Technologies Limited

04067162222

kal.ipo@kfintech.com

Lead Managers

Sun Capital Advisory Services Pvt Ltd

Day-wise GMP Trend

Date & Time	GMP (₹)	Est. Listing Price	Est. Gain (%)	Est. Profit / Lot (₹)
04-Feb-2026 09:30 AM	+₹4	₹77	+5.48%	₹6,400
03-Feb-2026 09:30 AM	+₹4	₹77	+5.48%	₹6,400
02-Feb-2026 09:30 AM	+₹4	₹77	+5.48%	₹6,400
01-Feb-2026 09:30 AM	+₹4	₹77	+5.48%	₹6,400
31-Jan-2026 09:30 AM	+₹4	₹77	+5.48%	₹6,400
30-Jan-2026 09:30 AM	+₹7	₹80	+9.59%	₹11,200
29-Jan-2026 09:30 AM	+₹0	₹73	+0.00%	₹0
28-Jan-2026 09:30 AM	+₹0	₹73	+0.00%	₹0
27-Jan-2026 09:30 AM	+₹0	₹73	+0.00%	₹0
26-Jan-2026 09:30 AM	+₹0	₹73	+0.00%	₹0
25-Jan-2026 09:30 AM	+₹0	₹73	+0.00%	₹0
24-Jan-2026 09:30 AM	+₹0	₹73	+0.00%	₹0
23-Jan-2026 09:30 AM	+₹0	₹73	+0.00%	₹0
22-Jan-2026 09:30 AM	+₹0	₹73	+0.00%	₹0

Subscription Status

Category	Subscription (x)	Shares Offered	Shares bid for	Total Amount (₹ Cr)
NII	0.23x	18,99,200	4,28,800	₹3.13 Cr
Retail	1.86x	19,00,800	35,32,800	₹25.79 Cr
Total	1.04x	38,00,000	39,61,600	₹28.92 Cr

Objects of the Issue

01 Repayment/ pre-payment, in full or part, of certain borrowings availed by the Company : 19.50 Cr
02 Branding and Promotion of Company brand, ‘Baari by Kanishk : 0.80 Cr
03 General Corporate Purpose : 4.32 Cr
04 Issue Expenses : 4.58 Cr

Company Financials

Period Ended	31 AUG 2025	31 MAR 2025	31 MAR 2024
Total Income	29.25	60.13	59.54
Profit After Tax	2.15	3.04	1.52
EBITDA	4.08	6.63	4.50
NET Worth	18.72	16.57	13.53
Reserves and Surplus	9.28	7.13	7.63
Total Borrowing	25.55	22.74	20.84

Amount in ₹ Crore

IPO Valuation - KPI

KPI	31 Mar 2025
ROCE	14.61%
Debt/Equity Ratio	1.37
Return on Net Worth (RoNW)	20.21%
PAT Margin	5.09%
EBITDA Margin	11.10%
Net Asset Value (NAV)	₹17.56
Earning Per Share (EPS)	₹3.22
Price/Earning P/E Ratio	22.67x

Peer Comparison

Company Name	EPS (₹)	P/E (x)	NAV (₹)	RoNW (%)	Income (₹ Cr)
Banco Products (India) Limited	27.39	24.79	91.08	30.01	3,212.52
Maan Aluminum Limited	2.87	55.84	32.99	9.00	810.17

Promoters and Holding Pattern

Mr. Parmanand Agarwal, Mrs. Khusboo Agarwal, Mr. Ashish Agarwal are the company's promoters of Kanishk Aluminium India Limited.

Particular	Pre IPO	Post IPO
Promoter and Promoter Group	99.99%	70.24%
Others*	0.01%	29.76%

Strengths

1. The company's operational efficiency is improving, as evidenced by its capacity utilization increasing from 56.88% in FY23 to 60.14% in FY25, with an annualized rate of 63.77% for the period ended August 31, 2025.
2. Despite stable revenues, the company has significantly improved its profitability, with Profit After Tax (PAT) growing from ₹1.76 Crores in FY23 to ₹3.04 Crores in FY25, and the PAT margin expanding from 2.96% to 5.09% over the same period.
3. The company is led by an experienced promoter, Mr. Parmanand Agarwal, who has over 40 years of experience in the aluminium manufacturing industry, providing deep industry knowledge and strategic direction.
4. The company has made a strategic shift into the high-margin, consumer-facing market by launching its premium brand 'Baari by Kanishk' in November 2024, focusing on aluminium system doors and windows.
5. The company possesses strong in-house customization capabilities through its dedicated die shop, allowing it to produce a wide array of customized aluminium profiles tailored to specific client requirements, which enhances flexibility and client relationships.
6. The company serves a diverse product portfolio across various industries, including construction, renewable energy, and automotive, which reduces its dependence on any single end-user market and allows it to adapt to market shifts.
7. A commitment to quality is demonstrated by the company's ISO 9001:2015 certification and its in-house quality control laboratory, which conducts pre- and post-production checks to meet international quality management standards.

Risks

1. The company has a very high customer concentration, with its top ten customers accounting for 83.07% of its total sales in FY25, which exposes it to significant revenue risk from the loss or reduction of orders from any of these key clients.
2. There is a significant supplier concentration risk, as the top ten suppliers accounted for 90.44% of the total raw material purchases in FY25, making the company's operations vulnerable to supply chain disruptions or price volatility from these suppliers.
3. The company has a history of negative operating cash flows, reporting ₹-1.76 Crores in FY25 and ₹-2.06 Crores in FY23, indicating that its core operations have not consistently generated sufficient cash to fund its activities.
4. Operations are heavily dependent on a single manufacturing facility located in Jodhpur, Rajasthan, making the business highly susceptible to disruptions from local operational, political, or natural disaster-related events.
5. The business is highly exposed to aluminium price volatility, with aluminium costs constituting 87.30% of revenue in FY25, and the company does not engage in any long-term price-hedging arrangements to mitigate this risk.
6. The company has engaged in significant related-party transactions, including licensing its primary brand names and leasing its factory premises from promoter group entities, creating potential conflicts of interest and raising governance concerns.
7. There have been several past instances of non-compliance and delayed statutory filings, including delays in GST, PF, and ESIC payments, as well as procedural lapses under the Companies Act related to share allotments and acceptance of deposits, which may result in penalties.

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About Kanishk Aluminium India Limited IPO

IPO Details

Kanishk Aluminium India Limited IPO Details and Specifications
IPO Date	28 Jan 2026 to 30 Jan 2026
Face Value	₹10 Per Share
Price Band	₹73.00
Lot Size	1600 Shares
Total Issue Size	Approx 29.00 Cr 40,00,000 Equity Shares
Fresh Issue	Approx 28.00 Cr 40,00,000 Equity Shares
Offer for Sale	Approx 0.00 Cr 0 Equity Shares
Retail Portion	50.02%
Sale Type	Fresh Issue
Issue Type	Fixed Price Issue
Listing Date	04 Feb 2026
Listing At	BSE
Total Subscription Amount	₹28.92 Cr

Investor Category

Shares Offered

% Net Issue

NII

18,99,200

49.98%

Retail

19,00,800

50.02%

Total

38,00,000

100.00%

- QIB (Ex. Anchor)

TBA

0.00%

Application

Lots

Amount

NII

4,800

₹3,50,400

Individual investors (Retail) (Min)

3,200

₹2,33,600

Individual investors (Retail) (Max)

3,200

₹2,33,600

About Company

Product Portfolio:

Aluminium Extrusions: Includes solid and hollow section profiles, solar profiles, heatsinks, railings, sliding/fixed window and door profiles
Engineering Products: Channels, sections, flat bars, and tubes with various finishes, tolerances, and tempers.
Hardware & Architectural Solutions: Kitchen profiles, railing systems, and other customised architectural applications.

As of November 30, 2025, the company employed 46 personnel responsible for operations, quality control, administration, and business functions.

Contact Details

Kanishk Aluminium India Ltd

Plot No. E-849 A

Fourth Phase RIICO

Boranada

Jodhpur, Rajasthan, 342001

+91 92570 61994

cs@kanishkindia.co.in

Visit Website

Date & Time

GMP (₹)

Est. Listing Price

Est. Gain (%)

Est. Profit / Lot (₹)

04-Feb-2026 09:30 AM

+₹4

₹77

+5.48%

₹6,400

03-Feb-2026 09:30 AM

+₹4

₹77

+5.48%

₹6,400

02-Feb-2026 09:30 AM

+₹4

₹77

+5.48%

₹6,400

01-Feb-2026 09:30 AM

+₹4

₹77

+5.48%

₹6,400

31-Jan-2026 09:30 AM

+₹4

₹77

+5.48%

₹6,400

30-Jan-2026 09:30 AM

+₹7

₹80

+9.59%

₹11,200

29-Jan-2026 09:30 AM

+₹0

₹73

+0.00%

₹0

28-Jan-2026 09:30 AM

+₹0

₹73

+0.00%

₹0

27-Jan-2026 09:30 AM

+₹0

₹73

+0.00%

₹0

26-Jan-2026 09:30 AM

+₹0

₹73

+0.00%

₹0

25-Jan-2026 09:30 AM

+₹0

₹73

+0.00%

₹0

24-Jan-2026 09:30 AM

+₹0

₹73

+0.00%

₹0

23-Jan-2026 09:30 AM

+₹0

₹73

+0.00%

₹0

22-Jan-2026 09:30 AM

+₹0

₹73

+0.00%

₹0

Kanishk Aluminium India Limited IPO Details

About Kanishk Aluminium India Limited IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Product Portfolio:

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Kanishk Aluminium India Limited IPO open and close?

What is Kanishk Aluminium India Limited IPO price band?

What is the Kanishk Aluminium India Limited IPO lot size?

What is the Kanishk Aluminium India Limited IPO allotment date?

What is the Kanishk Aluminium India Limited IPO listing date?

What is the minimum investment required in Kanishk Aluminium India Limited IPO?

Join the discussion

Kanishk Aluminium India Limited IPO Details

About Kanishk Aluminium India Limited IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Product Portfolio:

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Kanishk Aluminium India Limited IPO open and close?

What is Kanishk Aluminium India Limited IPO price band?

What is the Kanishk Aluminium India Limited IPO lot size?

What is the Kanishk Aluminium India Limited IPO allotment date?

What is the Kanishk Aluminium India Limited IPO listing date?

What is the minimum investment required in Kanishk Aluminium India Limited IPO?

Join the discussion