Kanishk Aluminium India IPO Overview
Kanishk Aluminium India Limited (KAIL) is a Jodhpur, Rajasthan–based manufacturer of aluminium extrusion profiles and premium aluminium door & window systems (“Baari by Kanishk”), targeting sectors like construction, solar, automotive, electrical and architectural applications. The company combines modern extrusion technology with end-to-end aluminium processing including melting, extrusion, anodizing and powder-coating.
The company is launching a SME IPO on the BSE SME platform to raise **₹29.20 crore via a 100% fresh issue of 40,00,000 equity shares priced at ₹73 per share (fixed price). The lot size is 1,600 shares (minimum retail investment ~₹2,33,600).
Proceeds will be used mainly for repayment/pre-payment of borrowings, branding and promotion of the “Baari by Kanishk” brand, and general corporate purposes to support growth and financial flexibility.
IPO DETAILED INFORMATION
Issue Details
| Parameter | Details |
| IPO Type | SME |
| IPO Open Date | 28 January 2026 (Wednesday) |
| IPO Close Date | 30 January 2026 (Friday) |
| Allotment Date | 02 February 2026 (Expected) |
| Credit to Demat | 03 February 2026 (Expected) |
| Refund Initiation | 03 February 2026 (Expected) |
| Listing Date | 04 February 2026 (Tentative) |
| Issue Price | ₹73 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,600 shares |
| Min Investment (Retail) | ₹2,33,600 (2 lots) |
| sNII Minimum | ₹3,50,400 (3 lots) |
| Issue Size | ₹29.20 crore (40,00,000 shares) |
| Fresh Issue | ₹29.20 crore (100%) |
| Offer for Sale (OFS) | Nil (no OFS) |
| Total Shares Offered | 40,00,000 equity shares |
| Listing Exchange | BSE SME |
Issue Break-up
| Category | Allocation (% Approx.) | Shares |
| Retail Individual Investors (RII) | ~47.52% | 19,00,800 |
| Non-Institutional Investors (NII/HNI) | ~47.48% | 18,99,200 |
| Market Maker | ~5.00% | 2,00,000 |
| Total | 100% | 40,00,000 |
Selling Shareholders (OFS)
NO OFFER FOR SALE — this is a 100% fresh issue. Promoters are not selling any shares, and all funds raised go to the company’s objectives.
Objects of the Issue (Fund Utilization)
The net proceeds of the IPO will be used for:
- Repayment/Pre-payment of Borrowings – ~₹19.50 cr to strengthen the balance sheet and reduce interest burden.
- Branding & Promotion – ~₹0.79 cr towards building the “Baari by Kanishk” premium aluminium system brand.
- General Corporate Purposes – balance to support working capital and other corporate needs.
Strategic Context:
- Reducing debt enhances financial flexibility and lowers finance costs.
- Brand investment aims to boost market visibility and support entry into higher-value architectural segments.
- Corporate funds improve operational agility for future growth.
Lead Managers & Registrar
- Book Running Lead Manager (BRLM): Sun Capital Advisory Services Pvt. Ltd.
- Registrar to the Issue: KFin Technologies Limited.
- Market Maker: Sunflower Broking Pvt. Ltd. (as per IPO disclosures)
Promoters & Management
The company is promoter-driven with high pre-IPO promoter shareholding:
- Mr. Parmanand Agarwal – Chairman & Managing Director with decades of aluminium industry experience.
- Mrs. Khusboo Agarwal – Promoter.
- Mr. Ashish Agarwal – Promoter.
Promoter Holding: Pre-IPO ~99.99%, Post-IPO estimated ~70.24% after dilution.
COMPANY DETAILS
Kanishk Aluminium India Limited was originally incorporated as a private entity in 2018 and later transitioned to a public limited company in October 2024. It operates a state-of-the-art manufacturing facility in Jodhpur, Rajasthan, producing aluminium extrusion profiles and related systems.
Products & Services:
- Aluminium solid & hollow profiles.
- Architectural systems (premium doors & windows under “Baari by Kanishk”).
- Solar mounting structures, railings, heatsinks, and industrial profiles.
- Window/door profiles with anodized, powder coated and wood-grain finishes.
Manufacturing Footprint:
- Modern facility ~4,000 sq m in Jodhpur with ISO 9001:2015 quality certification.
Market Reach:
Serves a diversified customer base across electronics, automotive, solar, electrical, furniture and architectural sectors nationwide, with growing partnerships for fabrication and installation.
Company Strengths
- Integrated Manufacturing Platform: In-house extrusion, finishing and architectural systems production capabilities.
- Diversified End Markets: Supplies multiple industries including construction, solar, automotive, furniture and electrical.
- Premium Brand Initiative: “Baari by Kanishk” positions the company in higher-margin architectural systems.
- Strong Promoter Expertise: Leadership with industry experience and deep operational involvement.
- Balance Sheet Strengthening: Planned debt reduction improves financial stability.
- Quality Certifications: ISO 9001:2015 ensures adherence to quality norms.
Key Risks & Challenges
- Customer Concentration: Heavy reliance on a limited number of key clients can pose demand risks.
- Raw Material Price Volatility: Aluminium price fluctuations can compress margins.
- SME Listing Liquidity: SME-listed stocks may have lower liquidity and volatile price action post-listing.
- Brand Adoption Risks: “Baari by Kanishk” is a new brand with limited operating history.
- Sector Cyclicality: Construction and architectural segments are sensitive to macroeconomic cycles.
Disclaimer
This document is for educational and informational purposes and does not constitute investment advice or recommendation. Investors should read the Red Herring Prospectus (RHP) and consult certified financial advisors before making investment decisions. Past performance is not indicative of future results and investments are subject to market risks.
