The initial public offering of Kanishk Aluminium India opened for subscription on Wednesday, January 28, and will remain open until Friday, January 30. This fixed-price SME IPO is valued at ₹29.20 crore and consists entirely of a fresh issue of 0.40 crore equity shares, each priced at ₹73.
Investors can apply in a lot size of 1,600 shares. Retail investors are required to apply for a minimum of two lots, translating into a minimum investment of ₹2,33,600. The company plans to utilise the funds raised to repay certain outstanding loans, strengthen brand promotion activities, and meet general corporate requirements.
As of 12:55 pm on the opening day, the IPO had been subscribed by about 3 percent overall. The retail category saw 6 percent subscription, while the non-institutional investor segment was subscribed by 1 percent. The issue received bids for 1.28 lakh shares against the total offer size of 38 lakh shares.
In the grey market, Kanishk Aluminium India shares are trading at par with the issue price, with a GMP of ₹0, suggesting no expected premium or discount at listing. The company launched its premium brand, “Baari by Kanishk,” in 2024, focusing on high-end aluminium doors and window systems.