BSE SME Kanishk Aluminium India slips on listing day

The scrip listed at Rs 58.40, a 20% discount to the issue price. The stock was currently frozen at its lower limit of 5% to the listing price. The stock touched a high of Rs 58.40 and a low of Rs 55.48, with around 19,000 shares changing hands on the counter.

Kanishk Aluminium India's IPO was subscribed 1.04 times. The issue opened for bidding on 28 January 2026 and it closed 30 January 2026. The price band of the IPO was fixed at Rs 73 per share.

The IPO comprised fresh issue of 40,00,000 equity shares. The promoter and promoter group shareholding diluted to 70.24% from 99.99% pre-issue.

The company intends to utilise the net proceeds for repayment/prepayment, in full or part, of certain borrowings availed by the company, branding and promotion of Brand Baari by Kanishk and general corporate purposes.

Kasturi Metal Composite manufactures a wide range of aluminium extrusion products, including solid and hollow profiles, solar profiles, railings, heat sinks, and aluminium doors and windows, serving industries such as electronics, automotive, solar, furniture, transport, electrical and architecture. Built on a focus on continuous improvement and operational excellence, the company expanded its portfolio in 2024 with the launch of its premium brand, Baari by Kanishk, which offers high-quality aluminium system doors and windows across multiple designs and configurations. As of 30 November 2025, the company had a total workforce of 46 employees.

The company recorded revenue from operations of Rs 29.18 crore and net profit of Rs 2.15 crore for the period ended 31 August 2025.

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