KANISHK ALUMINIUM INDIA IPO
Overview of the Offering
| IPO Period | 28th January 2026 – 30th January 2026 |
|---|---|
| Listing on | 04 February 2026 |
| Issue Price | ₹73 per equity share |
| Lot Size & Minimum Investment | 1600 equity shares (₹116,800) |
| Total Issue Size | ₹29 Crores |
Key Timelines for Investors
- Opening Date: 28 January 2026
- Closing Date: 30 January 2026
- UPI Payment Deadline: 30 January 2026 (5 PM)
- Allotment Announcement: 02 February 2026
- Refund Processing: 03 February 2026
- Demat Credit: 03 February 2026
- Stock Market Listing: 04 February 2026
- Mandate Validity End: 14 February 2026
- Anchor Investor Lock-in Release (50%): 04 March 2026
- Anchor Investor Lock-in Release (Remaining): 03 May 2026
*Dates may be revised as per official updates.
Deep Dive into Kanishk Aluminium India Limited
Incorporated in December 2018, Kanishk Aluminium India Limited operates as a prominent player in the aluminium manufacturing sector. The company specializes in producing a diverse range of aluminium extrusion products, which include solid and hollow sections, solar profiles, railings, heatsinks, and various window and door profiles. These essential components cater to an expansive array of industries, spanning electronics, automotive, solar energy, electrical systems, furniture, transportation, and architectural applications. The company’s robust manufacturing operations are centered at its facility in Jodhpur, Rajasthan, underpinned by stringent in-house quality control systems and an ISO 9001:2015 certification, demonstrating its commitment to international quality standards.
Kanishk Aluminium India expanded its business model significantly in November 2024 with the launch of “Baari by Kanishk,” its branded aluminium systems division. This strategic move focuses on delivering comprehensive door and window solutions, encompassing the design and manufacturing of modern systems such as sliding, casement, lift-and-slide, and folding doors and windows. While core extrusion and frame manufacturing is meticulously handled in-house, specialized surface treatments are outsourced to established long-term partners, ensuring both quality and efficiency. The company distinguishes itself through a hybrid business model that integrates manufacturing expertise with effective branding and a growing network of exclusive fabricator partnerships across various Indian states. This approach enables broader market penetration, consistent product quality, and the ability to offer customized solutions tailored to specific customer requirements.
Details of Capital Mobilization
| Total Funds Raised | ₹29 Crores |
|---|---|
| Fresh Issue Component | ₹29 Crores |
| Offer for Sale Component | Nil |
The Kanishk Aluminium India IPO is structured as a complete fresh issue, meaning the entirety of the ₹29 Crores raised will directly flow into the company. This capital infusion is crucial for funding the company’s strategic growth initiatives and strengthening its financial foundation. The absence of an Offer for Sale (OFS) component indicates that existing shareholders are not selling their shares, reflecting a commitment to the company’s future prospects and an intention to utilize the fresh capital for organizational development rather than merely providing an exit to promoters or early investors.
Strategic Utilization of IPO Proceeds
| Objective | Amount (INR Crores) | Allocation % |
|---|---|---|
| Repayment / pre-payment of borrowings | 19.50 | 67.24% |
| General corporate purposes | 4.32 | 14.90% |
| Balance towards other / unspecified purposes | 4.38 | 15.10% |
| Branding and promotion of “Baari by Kanishk” | 0.80 | 2.76% |
The proceeds from the IPO are strategically allocated to bolster the company’s financial health and drive its growth trajectory. A significant portion, 67.24% amounting to ₹19.50 Crores, is earmarked for the repayment or pre-payment of existing borrowings. This move is expected to reduce the company’s debt burden, optimize its capital structure, and potentially lower interest expenses, thereby improving overall profitability and financial flexibility. Approximately 14.90% (₹4.32 Crores) is allocated for general corporate purposes, providing the company with the necessary working capital and operational flexibility to manage day-to-day operations, respond to market opportunities, and invest in various strategic initiatives as they arise. A further 15.10% (₹4.38 Crores) is allocated towards other/unspecified purposes, allowing for flexibility to address unforeseen requirements or new growth opportunities. Lastly, a targeted investment of ₹0.80 Crores (2.76%) is dedicated to the branding and promotion of “Baari by Kanishk,” which will be instrumental in enhancing brand recognition, expanding market reach, and driving sales for its specialized doors and windows solutions.
Distinctive Competitive Strengths
- Extensive Product Portfolio: Kanishk Aluminium India offers a wide and diversified range of aluminium extrusion products that serve multiple industries, ensuring varied revenue streams and reduced dependence on a single sector.
- Seasoned Leadership: The company benefits significantly from the profound experience of its promoter, Mr. Parmanand Agarwal, who brings over four decades of invaluable expertise in the aluminium manufacturing industry, guiding strategic direction and operational excellence.
- Integrated Manufacturing Capabilities: With in-house manufacturing and owned dies, the company maintains stringent quality control, offers high levels of customization, and ensures efficient production processes, providing a competitive edge in product development and delivery.
- Developing Brand Presence: “Baari by Kanishk” is an established and growing brand for aluminium doors and windows, supported by an expanding pan-India network of exclusive fabricator partnerships, enabling widespread market penetration and customer engagement.
- Certified Quality Assurance: The company adheres to ISO 9001:2015 certified processes, underscoring its strong focus on quality control and ensuring that its products meet global standards, thereby building customer trust and reliability.
Potential Considerations and Risk Factors
- Vulnerability to Raw Material Prices: The company’s profitability is significantly influenced by the volatile prices of aluminium, which is a primary raw material. Any adverse fluctuations could impact margins and overall financial performance.
- Geographical Concentration: Kanishk Aluminium India’s operations are primarily concentrated at a single manufacturing facility located in Jodhpur, Rajasthan. This geographical concentration could expose the company to risks associated with localized disruptions, natural calamities, or regional economic downturns.
- Reliance on Key Sectors: A substantial portion of the company’s revenue is derived from demand within the construction and infrastructure sectors. A slowdown or adverse conditions in these industries could negatively affect the company’s order book and financial results.
- Brand Expansion Challenges: The “Baari by Kanishk” brand, while promising, is relatively new and still in its expansion phase. Establishing and growing this brand across a competitive market requires significant investment and carries inherent risks related to market acceptance and competition.
- Dependence on Third-Party Partners: The company relies on third-party partners for specialized surface treatments of its products. Any disruptions, quality issues, or termination of agreements with these partners could impact production schedules, product quality, and delivery timelines.
Latest Subscription Data
Subscription statistics will be updated here based on the latest available information once the IPO opens for bidding. Investors are advised to monitor official exchange data for accurate figures during the subscription period.
| Investor Category | Shares Reserved (Lakhs) | Shares Applied (Lakhs) | Subscription (Times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | – | – | – |
| Non-Institutional Investors (NII) | – | – | – |
| Retail Individual Investors (RII) | – | – | – |
| Total | – | – | – |
*GMP figures are unofficial and may vary; exchange data is more reliable.
How to Apply
Investors keen on participating in the Kanishk Aluminium India IPO can submit their applications via the official Dhan Kirti IPO platform. Ensure your application is completed and submitted before the subscription window closes.
