Key Quantitative Figures

  • IPO Date & Details: Funds were raised on February 2, 2026 (allotment date).
  • Amount Raised: ₹29,20,00,000 (₹29.20 crore).
  • Shares Issued: 40,00,000 Equity Shares of face value ₹10 each.
  • Issue Price: ₹73 per share (including a premium of ₹63 per share).

Utilization of Proceeds (as of September 30, 2026)

The detailed breakdown of fund utilization as per the objects in the prospectus dated January 20, 2026, is as follows:

| Object of Issue | Amount Allocated (₹ Lakhs) | Amount Utilized (₹ Lakhs) | Unutilized (₹ Lakhs) |

| Repayment / pre-payment of borrowings | 1,950.00 | 1,950.00 | 0.00 |

| Branding and Promotion of brand "Baari by Kanishk" | 79.75 | 47.81 | 31.94 |

| General corporate purposes | 431.80 | 431.80 | 0.00 |

| Issue related expenses | 458.45 | 458.45 | 0.00 |

| Total | 2,920.00 | 2,888.06 | 31.94 |

Parties Involved

  • Listed Entity: Kanishk Aluminium India Limited (CIN: L27109RJ2018PLC063198).
  • Stock Exchange: BSE Limited (Scrip Code: 544693, ISIN: INE163401016).
  • Auditor: Mahaveer Gandhi & Associates, Chartered Accountants.

Confirmation of Compliance

  • Deviation/Variation: The company confirms there is no deviation or variation in the utilization of the IPO proceeds from the objects stated in the Prospectus.
  • Audit Committee Comments: The Audit Committee noted no deviation in the utilization of proceeds as disclosed in the Prospectus.
  • Auditor Certification: The external auditor, Mahaveer Gandhi & Associates, issued a certificate confirming the utilization was as per the prospectus and that there was no deviation for the quarter ended September 30, 2026. The certificate was signed by Partner Mahaveer Ghandhi (M. No.: 074020) and dated November 14, 2026 (UDIN: 26074020JJUBQV1346).

Note on Unutilized Amount

A note clarifies that the unutilized amount of ₹3.194 lakh (as of Sept 30, 2026) for branding was fully utilized for the stated purpose (branding, promotion, and marketing of "BAARI BY KANISHK") by the date of signing the documents (November 14, 2026).

Financial Impact

Financial impact is fully quantified and aligned with the original objects of the issue. No material change or financial impact from deviation was reported.