Kenrik Industries To Launch Rs. 8.75 Crore SME IPO On BSE SME Platform For Business Expansion; Subscription Opens April 29 And Closes May 6, 2025.
The public issue open for subscription on April 29 and closes on May 6.
Gujarat based Kenrik Industries Limited , company engaged in the design and distribution of traditional Indian jewellery is planning to raise up to Rs. 8.75 crore from its SME public issue. The company has received approval to launch its public issue on BSE SME Platform. The public issue open for subscription on April 29 and closes on May 6. The Proceeds of the public issue will be used for business expansion including Funding working capital requirements and general corporate purposes. Turnaround Corporate Advisors Private Limited is the lead manager of the issue.
The initial public offering of Rs. 8.75 crore comprises of a fresh issue of 34.98 lakh equity shares of face value Rs. 10 each at Rs. 25 per share. Out of the fresh issue of Rs. 8.75 crore, company plans to utilize Rs. 6.56 crore towards meeting working capital requirements and Rs. 1.8 crore towards general corporate purpose. Minimum lot size for the application is 6000 shares which translates in to investment of Rs. 1,50,600 per application. Retail investor quota for the IPO is kept at 47.51% of the offer. Promoter holding post issue will be 72.01%.
Incorporated in 2017, Kenrik Industries Limited is engaged in the design and distribution of traditional Indian jewellery. The company’s product range features handmade gold jewellery studded with precious and semi-precious stones, including diamonds, rubies, and cubic zirconia. Company offers an extensive portfolio that includes rings, earrings, armlets, pendants, nose rings, bracelets, chains, necklaces, bangles, watches, luxury items, and wedding jewellery. The products are crafted to meet specific customer requirements and are manufactured on a job-work basis at the company’s facility located in Ahmedabad, Gujarat.
Kenrik Industries Limited currently operates under a Business-to-Business (B2B) model, catering to customers across high-end, mid-market, and value market segments. The company places strong emphasis on quality control, inventory management, and business development, ensuring all jewellery is certified by BIS Hallmark. As of July 31, 2024, Kenrik Industries Limited has a total of 9 employees across various departments.
For FY23-24 ended March 2024, company has reported net profit of Rs. 1.08 crore and revenue of Rs. 70.97 crore. As on 31st March 2024, ROE, ROCE and RONW of the company stands at 9.01%, 10.85% and 8.62% respectively.
For the seven months ended 31st October 2024, company reported revenue of Rs. 42.19 crore and Net Profit of Rs. 78 lakh. As on 31st Otober 2024, Net Worth of the company was reported at Rs. 13.37 crore, Asset base of Rs. 15.98 crore. Shares of the company will be listed on BSE SME platform.
Disclaimer: The article is for informational purposes only and not investment advice.