Kanishk Aluminium India
January 28, 2026 – January 30, 2026
| Price | ₹73 - ₹73 |
| GMP Rumors * | ₹7 |
|---|---|
| Lot size | 1600 |
| Issue size | ₹29.20 cr |
| Allotment | Feb 2, 2026 |
| Listing | Feb 4, 2026 |
Kanishk Aluminium India Subscription
Last updated on 29-Jan-2026 17:05:06
| Category | Offered | Applied | Times |
|---|---|---|---|
| HNIs | 1899200 | 65600 | 0.03 |
| Individual | 1900800 | 1849600 | 0.97 |
| Total | 3800000 | 1915200 | 0.5 |
Application-Wise Breakup  | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (3-10L) | 396 | 10 | 0.03 |
| Individual | 594 | 578 | 0.97 |
Kanishk Aluminium India Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| INDIVIDUAL | 2 | 3200 | 233600 | 594 |
| HNI | 3 | 4800 | 350400 | 396 |
Kanishk Aluminium India Reservation
| Category | Shares Offered | % |
|---|---|---|
| HNI | 1899200 | 47.48% |
| INDIVIDUAL | 1900800 | 47.52% |
| Market Maker | 200000 | 5% |
| Total | 4000000 | 100% |
Kanishk Aluminium India About
IPO Details
| Total Issue Size | 40,00,000 shares (aggregating up to ₹29.20 Cr) |
| Fresh Issue | 40,00,000 shares (aggregating up to ₹29.20 Cr) |
| Face Value | ₹10/- Per Share |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 94,40,000 shares |
| Share Holding Post Issue | 1,34,40,000 shares |
| Reserved for Market Maker | 2,00,000 shares (aggregating up to ₹1.46 Cr) |
| Market Maker | Sunflower Broking Pvt.Ltd. |
Key Performance Indicators (KPI)
| KPI | Aug-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| ROE | 29.21% | 20.21% | 15.59% | 34.41% |
| ROCE | 19.92% | 14.61% | 10.95% | 10.78% |
| EPS (BASIC) | 5.47 | 3.22 | 1.92 | 2.25 |
| P/E Pre IPO | 22.67 | |||
| P/E Post IPO | 19.03 |
Company Financial (In ₹Crore)
| Period Ended | Aug-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Assets | 60.47 | 50.5 | 41.09 | 37.11 |
| Total Income | 29.25 | 60.13 | 59.54 | 59.68 |
| Profit After Tax | 2.15 | 3.04 | 1.52 | 1.76 |
| EBITDA | 4.08 | 6.63 | 4.5 | 4.06 |
| NET Worth | 18.72 | 16.57 | 13.53 | 6.01 |
| Reserves and Surplus | 9.28 | 7.13 | 7.63 | 1.11 |
| Total Borrowing | 25.55 | 22.74 | 20.84 | 26.45 |
Peer Comparison (Valuation)
| Company | P/E (x) | Face value (₹) |
|---|---|---|
| Kanishk Aluminium India Limited | 22.67 | 40.00 |
| Maan Aluminum Limited | 55.84 | 5.00 |
| Banco Products (India) Limited | 24.79 | 2.00 |
Peer Comparison (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Kanishk Aluminium India Limited | 17.56 | 20.21 | 3.22 |
| Maan Aluminum Limited | 32.99 | 9.00 | 2.87 |
| Banco Products (India) Limited | 91.08 | 30.01 | 27.39 |
About Company
Incorporated in 2022, Kanishk Aluminium India Ltd. is a Jodhpur-based aluminium extrusion manufacturer operating from a modern facility spread across approximately 4,000 sq. metres in Rajasthan’s “Blue City.”
Business Operations
The Company specialises in the manufacturing of a wide range of aluminium extrusion products and provides customised aluminium profile solutions catering to diverse industry requirements.
Industry Presence
Kanishk Aluminium serves multiple sectors, including electronics, automotive, solar energy, furniture, transportation, electrical applications, and architectural projects.
Product Portfolio
- Aluminium Extrusions: Solid and hollow profiles, solar profiles, heatsinks, railings, and sliding/fixed window and door profiles
- Engineering Products: Channels, sections, flat bars, and tubes in various finishes, tolerances, and tempers
- Hardware & Architectural Solutions: Kitchen profiles, railing systems, and customised architectural applications
Strength
Diversified Aluminium Product Portfolio: The Company offers a wide range of aluminium extrusion products and aims to be a one-stop solution. A large die inventory enables customised profiles across multiple industries, reducing dependence on any single sector and supporting adaptability to market changes.
High Customisation and Production Flexibility: Ownership of a broad range of extrusion dies allows the Company to manufacture products in varied sizes, shapes, and finishes as per customer specifications. This flexibility strengthens client relationships and enhances market reach.
Strong Raw Material Sourcing Network: The Company maintains strong relationships with suppliers for sourcing primary aluminium ingots and recycled aluminium from domestic and international markets. This diversified sourcing ensures consistent supply, cost efficiency, and quality control.
Weakness
Potential Conflict of Interest with Promoter Group Entities: Certain Promoter Group entities are engaged in similar or overlapping businesses, which may lead to conflicts of interest. There is no assurance that promoter interests will always align with the Company’s interests or that competition will not arise in the future.
Past Delays in Statutory and Regulatory Filings: The Company has experienced delays in filings related to GST, PF, and ESIC in the past, and PF was not deducted for promoters/directors/KMPs earlier. While no penalties have been imposed so far, future regulatory action or penalties could adversely impact financial performance.
Historical Non-Compliances under Companies Act: There have been past discrepancies in filings with the Registrar of Companies and certain non-compliances under the Companies Act, which may result in penalties and could affect the Company’s business and financial condition.
Kanishk Aluminium India Lead Manager(s)
Kanishk Aluminium India Address
Plot No. E-849 A
Fourth Phase RIICO
Boranada
Jodhpur, Rajasthan, 342001
Phone: +91 92570 61994
E-Mail: cs@kanishkindia.co.in
Website: https://kanishkindia.co.in/