Kanishk Aluminium Ltd IPO: The SME segment is heating up in early 2026, and Kanishk Aluminium India Limited is one of the key players capturing investor attention. Based in Jodhpur, Rajasthan, the company is a specialized manufacturer of aluminium extrusion products. If you are considering an investment, here is the comprehensive breakdown of the Kanishk Aluminium IPO.
Kanishk Aluminium IPO Overview
Kanishk Aluminium is a manufacturer of a wide range of aluminium profiles, including solar profiles, railings, and heatsinks. The company recently launched its premium brand, “Baari by Kanishk,” targeting the high-end architectural window and door market.
| Key Detail | Information |
| IPO Date | January 28, 2026, to January 30, 2026 |
| Issue Price | ₹73 per equity share (Fixed Price) |
| Lot Size | 1,600 Shares |
| Total Issue Size | ₹29.20 Crore |
| Listing At | BSE SME |
| Registrar | KFin Technologies Limited |
Kanishk Aluminium IPO GMP Today
The Grey Market Premium (GMP) reflects the unofficial demand for the shares before they hit the exchange.
- Current GMP: ₹0 (Neutral)
- Estimated Listing Price: ₹73
- Market Sentiment: Cautious.
Analysis: As of Day 2 of the subscription, the GMP remains flat. While this indicates no immediate “listing pop,” investors often look at the subscription figures on the final day to gauge a potential turnaround.
Important Dates & Timeline
Missing a deadline in an SME IPO can mean missing out on allotment. Save these dates:
- IPO Open Date: Wednesday, January 28, 2026
- IPO Close Date: Friday, January 30, 2026
- Basis of Allotment: Monday, February 2, 2026
- Refund Initiation: Tuesday, February 3, 2026
- Credit of Shares to Demat: Tuesday, February 3, 2026
- Tentative Listing Date: Wednesday, February 4, 2026
Investment Lot Size
Because this is an SME IPO, the entry barrier is higher than mainboard IPOs. Retail investors are required to apply for a minimum of 2 lots.
| Application Category | Lots | Shares | Amount |
| Retail (Min/Max) | 2 | 3,200 | ₹2,33,600 |
| S-HNI (Min) | 3 | 4,800 | ₹3,50,400 |
Financial Performance (FY25 Snapshot)
Kanishk Aluminium has shown steady financial health, though it faces typical manufacturing challenges like debt and raw material price volatility.
- Revenue: ₹60.13 Crore (FY25)
- Profit After Tax (PAT): ₹3.04 Crore (Double the previous year)
- EBITDA Margin: 11.10%
- Debt-to-Equity: 1.37
- ROE: 20.21%
How to Check Kanishk Aluminium IPO Allotment Status
Investors can check their allotment status on Monday, February 2, 2026, through the following steps:
- Visit the KFintech Allotment Portal.
- Select Kanishk Aluminium India Limited from the list of companies.
- Enter your PAN Number or Application Number.
- Solve the captcha and click Submit.
Verdict: Apply or Avoid?
Strengths:
- Experienced promoters with 40+ years in the industry.
- New “Baari” brand provides a path toward higher-margin B2C sales.
- Reasonable valuation with a P/E of approximately 22x.
Risks:
- Concentrated customer base (top 10 customers account for over 80% of sales).
- High debt-to-equity ratio compared to some peers.
- Negative operating cash flow in the most recent period.
Disclaimer: IPO investments are subject to market risks. Please read the RHP carefully and consult a SEBI-registered financial advisor before investing.
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