New Delhi, Jan. 28 -- The initial public offering (IPO) of Kanishk Aluminium India opened for bidding on Wednesday, January 28 and will remain available for subscription till Friday, January 30.

The fixed-priced SME IPO, worth Rs.29.20 crore, is entirely a fresh share sale of 0.40 crore shares priced at Rs.73 apiece. Investors can apply for Kanishk Aluminium India IPO in a lot size of 1600 shares. The minimum investment needed by a retail investor is Rs.2,33,600 as they need to bid for at least two lots.

Kanishk Aluminium 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 Aluminium India...