The initial public offer (IPO) of Kenrik Industries received bids for 8,40,000 shares as against 34,98,000 shares on offer, as per BSE data as of 17:00 hours on Tuesday (29 April 2025). The issue was subscribed 0.24 times.
The issue opened for bidding on Tuesday (29 April 2025) and it will close on Tuesday (06 May 2025). The price of the IPO is fixed at Rs 25 per share. The minimum order quantity is 6,000 equity shares. The equity shares will list on BSE’s SME platform.
The IPO comprises fresh issue of 34,98,000 equity shares. The promoter and promoter group shareholding will dilute to 72.01% from 99.99% pre-issue.
About 1,80,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 33,18,000 equity shares. The issue and the net issue will constitute 27.99% and 26.55%, respectively, of the post-issue paid-up equity share capital of the company.
The company intends to utilize the net proceeds to meet working capital requirements and general corporate purposes.
Kenrik Industries is engaged in the manufacturing, wholesaling, and supplying of plain and studded gold jewellery and ornaments. The company primarily focuses on traditional Indian jewellery. Its products include handmade gold jewellery studded with precious and semi-precious stones such as diamonds, rubies, cubic zirconia, etc. The company’s product portfolio includes rings, earrings, armlets, pendants, nose rings, bracelets, chains, necklaces, bangles, watches, luxury items, and other wedding jewellery. The company had a total of 9 employees.
The company recorded revenue from operations of Rs 42.18 crore and net profit of Rs 0.78 crore for the period ended 31 October 2024.