IPO of Kenrik Industries, which is in the jewellery business, will open on April 29, price ₹25 per share

 Kenrick Industries IPO is a fixed price issue of Rs 8.75 crore which will open for subscription on April 29. The shares of this fresh issue of 34.98 lakh shares will be listed on BSE SME on May 09.

The price of Kenrik Industries IPO has been fixed at Rs 25 per share. One lot size is 6000 shares and the minimum investment amount for retail investors is Rs 1 lakh 50 thousand.

The Company will use the net proceeds from this issue to meet working capital requirements and for general corporate purposes.

Kenrik Industries Limited, established in 2017, is in the business of designing and distribution of Indian traditional jewellery. The company operates on a B2B model through its manufacturing centre located in Ahmedabad (Gujarat) and offers a range of high quality jewellery.

Kenrick Industries manufactures traditional handmade gold jewellery studded with precious and semi-precious gemstones such as diamonds, rubies and cubic zirconia. The company's product range includes rings, earrings, armlets, pendants, nose rings, bracelets, chains, necklaces, bangles, etc.

Every product is custom designed as per the customer's preference and the manufacturing is done on a job-work basis at the company's Ahmedabad unit. The company operates on a B2B model and its customer base is spread across high-end, mid-market and value market segments.

The company's revenue was ₹52.04 crore in FY 23, which increased to ₹70.97 crore in FY 24. Similarly, profit after tax was ₹47 lakh in FY 23, which increased to ₹1.08 crore in FY 24.

In FY 25 for the period ending October 31, 2024, the company's revenue is ₹42.19 crore and profit after tax is ₹78 lakh.

Turnaround Corporate Advisors Private Limited is the book-running lead manager to Kenrick Industries IPO, while Skyline Financial Services Private Limited is the registrar to the issue.

The market maker for Kenrick Industries IPO is MNM Stock Broking Pvt Ltd. Nitinkumar Dalpatbhai Shah, Nihar Nitinbhai Shah, Manisha Nitinkumar Shah, Shah Nitin Dalpatlal (HUF) are the promoters of the company.