Kanishk Aluminium India is set to launch its IPO as a fixed-price issue worth ₹29.20 crore. The entire issue comprises a fresh issue of 0.40 crore equity shares, with no offer-for-sale component. The IPO will open for public subscription on January 28, 2026, and will close on January 30, 2026.
The allotment of shares is expected to be finalised on February 2, 2026, while the company is scheduled to make its debut on the BSE SME platform on February 4, 2026. The IPO is priced at ₹73 per share.
The lot size for the issue is 1,600 shares. Retail investors are required to apply for a minimum of 3,200 shares, translating into an investment of ₹2,33,600. For HNI investors, the minimum application size is three lots, or 4,800 shares, amounting to ₹3,50,400.
Sun Capital Advisory Services Pvt. Ltd. is acting as the book-running lead manager to the issue, while KFin Technologies Ltd. has been appointed as the registrar. Sunflower Broking Pvt. Ltd. will serve as the market maker for the IPO.
Kanishk Aluminium IPO Objectives
- The company proposes to utilise ₹1,950 lakh from the net proceeds towards repayment or pre-payment, in full or in part, of certain borrowings availed by the company, which is expected to improve its financial position.
- An amount of ₹79.75 lakh will be used for branding and promotional activities for the company’s brand, ‘Baari by Kanishk’, to enhance brand awareness and market presence.
- The balance amount will be deployed towards general corporate purposes, including funding operational requirements and business initiatives, subject to a cap of 15% of the gross issue proceeds or ₹10 crore, whichever is lower.
About Kanishk Aluminium
Kanishk Aluminium India Limited is a Jodhpur-based aluminium extrusion manufacturer catering to a wide range of industries such as electronics, automotive, solar, electrical, furniture, transport and architecture. The company manufactures solid and hollow aluminium profiles, solar structures, railings, heatsinks and window and door profiles.
In November 2024, it launched its premium aluminium doors and windows brand, ‘Baari by Kanishk’, offering products such as sliding, casement, lift-and-slide and foldable systems.
The company operates a modern manufacturing facility spread across about 4,000 sq. metres in Jodhpur, Rajasthan, and also runs a Baari experience centre in the city. Surface treatments are carried out through trusted partners, while fabrication and installation are closely supervised in-house.
The company is led by promoter and Managing Director Mr. Parmanand Agarwal, who has over four decades of industry experience, the company focuses on quality, customisation and customer satisfaction and is ISO 9001:2015 certified.
Industry Outlook
- India is among the top global aluminium producers and consumers, yet per capita consumption remains low at 2.2–2.8 kg compared with the global average of 8–12 kg. This gap indicates significant long-term growth potential as demand rises from infrastructure, power, construction, automobiles and renewable energy sectors.
- Despite having sufficient domestic capacity, nearly 58% of aluminium demand is met through imports. India imports around 1.3 million tonnes of aluminium scrap while exporting about 2 million tonnes of primary aluminium, highlighting opportunities for increased domestic processing and value addition.
- India has abundant bauxite and coal reserves and is among the few countries with fully integrated aluminium operations. Continued growth in mineral production and rising use of aluminium in power transmission, EVs, housing and packaging support a positive outlook for aluminium and extrusion manufacturers.
How To Apply for the Kanishk Aluminium IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the KANISHK ALUMINIUM IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Kanishk Aluminium IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Kanishk Aluminium IPO
Registered Address: Plot No. E-849 A, Fourth Phase RIICO, Boranada, Jodhpur, Rajasthan, 342001
Phone: +91 92570 61994
Email: cs@kanishkindia.co.in
Kanishk Aluminium IPO Reservation
| Category | % of Shares Offered |
| Market Maker | 5.00% |
| NII (HNI) | 47.48% |
| Retail Investors | 47.52% |
| Total | 100.00% |
Kanishk Aluminium IPO Lot Size Details
| Application Category | Lots | Shares | Amount (₹) |
| Retail Individual Investor (Min) | 2 | 3,200 | ₹2,33,600 |
| Retail Individual Investor (Max) | 2 | 3,200 | ₹2,33,600 |
| HNI (Minimum) | 3 | 4,800 | ₹3,50,400 |
Kanishk Aluminium IPO Promoter Holding
The promoters of the company are Mr. Parmanand Agarwal, Mrs. Khusboo Agarwal and Mr. Ashish Agarwal.
| Share Holding Pre-Issue | 99.99% |
| Share Holding Post Issue | 70.24% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Kanishk Aluminium IPO
| Metric | Value |
| EBITDA Margin | 11.85% |
| PAT Margin | 4.95% |
| Return on Equity (ROE) | 14.15% |
| Return on Capital Employed (RoCE) | 11.99% |
| Debt-to-Equity Ratio | 1.22 |
Kanishk Aluminium IPO Registrar and Lead Managers
Kanishk Aluminium IPO Lead Managers
Sun Capital Advisory Services Pvt.Ltd.
Registrar for Kanishk Aluminium IPO
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: kal.ipo@kfintech.com
Financials of Kanishk Aluminium Limited
| Metric | Jan 31, 2025 | FY 2024 | FY 2023 | FY 2022 |
| Revenue from Operations (₹ Lakhs) | 4,140.31 | 5,930.46 | 5,915.96 | 3,479.17 |
| Total Income (₹ Lakhs) | 4,159.54 | 5,953.89 | 5,968.25 | 3,492.18 |
| EBITDA (₹ Lakhs) | 490.68 | 449.81 | 406.05 | 229.91 |
| Profit After Tax (PAT) (₹ Lakhs) | 205.98 | 152.29 | 176.37 | 25.52 |
| Net Worth (₹ Lakhs) | 1,559.05 | 1,353.07 | 600.78 | 424.42 |
Strengths and Opportunities of Kanishk Aluminium
- The company offers a wide range of aluminium extrusion products and aims to be a one-stop solution, reducing dependence on any single industry and enabling it to cater to multiple sectors.
- With a large inventory of in-house dies, the company provides customised aluminium profiles in various sizes, shapes and finishes to meet specific customer requirements.
- The ability to quickly develop new designs and adjust product offerings based on market and client needs helps the company remain agile and competitive.
- Long-standing relationships with domestic and international suppliers ensure consistent availability of quality raw materials such as aluminium ingots and recycled aluminium.
- Procurement from multiple states in India and overseas markets helps manage costs, maintain supply stability and mitigate sourcing risks.
Risks and Threats of Kanishk Aluminium
- The company derives a substantial portion of its revenue from a limited number of customers. The top 10 customers contributed 85.70% (Jan 31, 2025) and over 78%–90% of total sales in the last four years, exposing the business to risks from order cancellations, demand slowdown, or loss of key clients.
- Raw material sourcing is concentrated, with the top 10 suppliers accounting for 75.12%–81.78% of revenue-linked purchases over the past four years. Any disruption in these suppliers’ operations could impact production, costs, and profitability.
- Aluminium is the primary raw material, and price fluctuations due to global supply-demand dynamics, geopolitical issues, or import/export restrictions may adversely affect margins and operating performance.
- The premium brand ‘Baari by Kanishk’, launched in November 2024, has a limited operating and financial history, creating uncertainty around brand acceptance, scalability, and long-term profitability.
- Architectural and construction products contributed 73.26%–86.08% of revenue over the last four years, making the company vulnerable to sector-specific slowdowns, pricing pressure, or shifts in customer preferences.
