Kanishk Aluminum India IPO: The initial public offering (IPO) of Kanishk Aluminum India opened for bidding on Wednesday, January 28 and will remain available for subscription till Friday, January 30.
The fixed-priced SME IPO, worth ₹29.20 crore, is entirely a fresh share sale of 0.40 crore shares priced at ₹73 apiece. Investors can apply for Kanishk Aluminum India IPO in a lot size of 1600 shares. The minimum investment needed by a retail investor is ₹2,33,600 as they need to bid for at least two lots.
Kanishk Aluminum India plans to use the IPO proceeds for repayment of certain borrowings availed by the company, branding and promotion of the company brand and general corporate purposes.
The allotment for the Kanishk Aluminum India IPO is expected to be finalized on February 2, while shares of Kanishk Aluminum India IPO will list on BSE SME on February 4.
Kanishk Aluminum India IPO subscription status
Kanishk Aluminum India IPO was booked 3% so far as of 12.55 pm. The retail investor portion was subscribed 6% while the non-institutional investor (NII) quota was booked 1%.
The offer received bids for 1,28,000 shares as against 38,00,000 shares on offer.
Kanishk Aluminum India IPO GMP
Kanishk Aluminum India IPO gray market premium (GMP) today stood at ₹0. This means that shares of Kanishk Aluminum India are trading at par with the offer price.
Investors are likely to see no discount or premium on their investment in the IPO, according to current GMP trends.
Kanishk Aluminum India Details
Kanishk Aluminum India specializes in manufacturing a comprehensive range of aluminum extrusion products, including solid and hollow section profiles, solar profiles, railings, heatsinks, and sliding and fixed windows and doors.
Its products cater to a diverse range of industries, such as electronics, automotive, mechanical, solar, furniture, transport, electrical, and architecture.
In 2024, the company launched its brand, “Baari by Kanishk,” which specializes in premium aluminum system doors and windows. Under the Baari brand, the company designs and manufactures a wide range of high-quality door and window systems, including sliding doors, casement series, slide-and-fold doors, lift-and-slide doors, fixed panels, and more.
Disclaimer: This story is for educational purposes only. We advise investors to consult with certified experts before making any investment decisions.
