Quarterly Updates29 May 2026, 09:38 pm
Kanishk Aluminium Raises ₹29.2 Cr Through IPO
AI Summary
Kanishk Aluminium India Ltd announced it raised ₹29.20 Crores through an Initial Public Offering (IPO) of 40,00,000 Equity Shares at a face value of ₹10 each. The IPO allotment date was February 2, 2026. The Audit Committee confirmed no deviation in the utilization of IPO proceeds as per the Prospectus dated January 20, 2026. The funds were allocated for repayment of borrowings, branding, general corporate purposes, and issue-related expenses, with the branding amount currently unutilized.
Key Highlights
- Kanishk Aluminium raised ₹29.20 Cr via IPO on February 2, 2026.
- IPO consisted of 40,00,000 Equity Shares with a face value of ₹10 each.
- Audit Committee confirms no deviation in IPO proceeds utilization.
- Funds allocated for debt repayment, branding, corporate purposes, and issue expenses.
- ₹79.75 Lakhs allocated for branding remains unutilized due to unforeseen circumstances.