Established in 2017 and based in Ahmedabad, Gujarat, Kenrik Industries Limited specializes in the design and distribution of traditional Indian jewelry. Kenrik Industries Limited is launching its Kenrik Industries Limited IPO on the BSE SME platform. Below are the comprehensive details:
IPO Timeline
- Opening Date: April 29, 2025
- Closing Date: May 6, 2025
- Basis of Allotment: May 7, 2025
- Refunds Initiation: May 8, 2025
- Credit to Demat Accounts: May 8, 2025
- Listing Date: May 9, 2025
IPO Details
- Issue Price: ₹25 per share
- Face Value: ₹10 per share
- Lot Size: 6,000 shares
- Minimum Investment: ₹150,000
- Total Issue Size: 34,98,000 shares aggregating up to ₹8.75 crore
- Issue Type: Fixed Price Issue
- Market Maker Reservation: 1,80,000 shares
- Net Offer to Public: 33,18,000 shares
- Retail Allocation: 50%
Promoters of Kenrik Industries Limited
The promoters of Kenrik Industries Limited are part of the Shah family, and their detailed profiles are as follows:
Nitinkumar Dalpatbhai Shah
- Position: Promoter and Director
- Background: A key founding member with significant experience in the jewelry industry.
- Shareholding (Pre-Issue): Substantial holding, part of 99.99% promoter stake.
- Role: Provides strategic direction and oversees major business decisions.
- Other Interests: Involved in family-run businesses and HUF investments.
Nihar Nitinbhai Shah
- Position: Promoter
- Relation: Son of Nitinkumar Dalpatbhai Shah
- Background: Likely to be involved in the day-to-day operations or business development.
- Shareholding: Holds a part of the family’s majority share before IPO.
- Education/Experience: Not publicly disclosed in detail but active in core company functions.
Manisha Nitinkumar Shah
- Position: Promoter
- Relation: Spouse of Nitinkumar Dalpatbhai Shah
- Involvement: Passive or supporting role in the business. Likely holds shares in her name for wealth management and tax planning purposes.
Shah Nitin Dalpatlal (HUF)
- Entity Type: Hindu Undivided Family (HUF)
- Karta: Nitinkumar Dalpatbhai Shah
- Purpose: HUF holds shares in the company, which is a common structure for Indian family businesses to manage family wealth and succession.
- Shareholding: Included in promoter group and contributes to pre-IPO 99.99% stake.
Promoter Holding
- Pre-Issue: 99.99% (Combined across all promoters)
- Post-Issue: 72.01%
GMP of Kenrik Industries Limited IPO
As of today, April 26, 2025, there is no active Grey Market Premium (GMP) reported for the Kenrik Industries Limited IPO.
Multiple IPO tracking platforms, including IPO Watch and IPO Central, confirm that the GMP is currently unlisted or not available.
The absence of a GMP suggests that there hasn’t been significant grey market activity for this IPO yet. This is not uncommon for SME IPOs, where grey market trading may be limited or delayed.
Kenrik Industries IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Minimum) | 1 | 6,000 | ₹1,50,000 |
| Retail (Maximum) | 1 | 6,000 | ₹1,50,000 |
| HNI (Minimum) | 2 | 12,000 | ₹3,00,000 |
- Minimum Application: Investors must apply for at least 1 lot, which is 6,000 shares, amounting to a total investment of ₹150,000.
- Maximum Application: Retail investors can apply for up to 1 lot only, as per SME IPO norms.
Company Overview
- Incorporation Date: February 28, 2017
- Corporate Identity Number (CIN): U36101GJ2017PLC095995
- Registered Address: 171/FF/9, Bhawani Chambers, Hathi Khana, Ahmedabad – 380001, Gujarat, India
- Authorized Share Capital: ₹13.00 crore
- Paid-up Capital: ₹9.00 crore
- Listing Status: Unlisted (as of now)
Product Portfolio
Kenrik Industries offers a wide array of jewelry products, including:
- Rings
- Earrings
- Pendants
- Necklaces
- Armlets
- Nose Rings
- Bangles
- Bracelets
- Chains
- Watches
- Luxury Items
- Wedding Jewelry
The company’s products are known for their traditional designs and craftsmanship, catering to various market segments, including high-end, mid-market, and value-conscious customers.
Kenrik Industries Limited Financial Information
Here is the financial information for Kenrik Industries Limited for the fiscal years ending March 31, 2022, and March 31, 2023, as per available data:
Kenrik Industries Limited – Financial Summary
| Financial Metric | FY 2021–22 | FY 2022–23 |
|---|---|---|
| Revenue | ₹32.69 Crore | ₹52.04 Crore |
| Net Profit | ₹0.39 Crore | ₹0.47 Crore |
| Earnings Per Share (EPS) | ₹0.51 Crore | ₹0.53 Crore |
| Net Worth | ₹11.03 Crore | ₹11.50 Crore |
| Debt-to-Equity Ratio | ₹0.03 Crore | ₹0.05 Crore |
Financial Highlights
- Revenue Growth: The company witnessed a revenue increase of approximately 59% from FY 2021–22 to FY 2022–23.
- Profitability: Net profit showed a modest rise, indicating stable operational performance.
- Earnings Per Share (EPS): A slight improvement in EPS reflects consistent earnings growth.
- Net Worth: An increase in net worth suggests retained earnings and financial stability.
- Leverage: The low debt-to-equity ratio indicates a conservative capital structure with minimal reliance on debt financing.
Valuation Metrics
- Price-to-Earnings (P/E) Ratio: 23.31x
- Return on Net Worth (RONW): 8.62%
- Return on Capital Employed (ROCE): 10.85%
- Net Asset Value (NAV) per share: ₹13.98
- Debt-to-Equity Ratio: 0.06
Objects of the Issue of Kenrik Industries Limited IPO
The objects of the issue for the Kenrik Industries Limited IPO outline how the company plans to utilize the funds raised through the public offering. According to the company’s prospectus, the net proceeds will be allocated for the following purposes:
| Purpose | Estimated Amount (₹ in Lakhs) |
|---|---|
| 1. Working Capital Requirements | 625.00 |
| 2. General Corporate Purposes | 200.00 |
| 3. Issue Expenses (including lead manager & registrar fees) | 50.00 |
| Total Estimated Utilization | 875.00 |
Key Highlights:
- Working Capital will support day-to-day operations, purchase of raw materials (precious metals, gems), and expansion in B2B channels.
- General Corporate Purposes may include brand promotion, hiring, infrastructure upgrades, or other strategic initiatives.
- Issue Expenses cover underwriting, legal, compliance, and registrar costs related to the IPO.
Strengths of Kenrik Industries Limited IPO
Diverse Product Portfolio
Kenrik Industries offers a wide range of traditional and contemporary jewelry designs, including rings, earrings, pendants, necklaces, armlets, nose rings, bangles, bracelets, chains, watches, luxury items, and wedding jewelry. This diversity caters to various customer preferences and market segments.
Experienced and Skilled Workforce
The company boasts a team of experienced artisans and professionals, ensuring high-quality craftsmanship and design innovation in its jewelry offerings.
Consistent Financial Growth
Kenrik Industries has demonstrated steady financial performance over recent years, with increasing revenues and profits, indicating a stable business model.
Low Debt Levels
The company maintains a low debt-to-equity ratio, reflecting prudent financial management and reducing financial risk.
Risks of Kenrik Industries Limited IPO
Limited Operating History
Established in 2017, Kenrik Industries has a relatively short track record, which may pose challenges in assessing long-term performance and stability.
High Working Capital Requirements
The jewelry industry typically requires significant working capital to manage inventory and procurement of raw materials, which can strain financial resources.
Market Competition
The jewelry sector is highly competitive, with numerous established players, which may impact Kenrik Industries’ market share and pricing power.
Economic Sensitivity
Demand for jewelry is often influenced by economic conditions; downturns can lead to reduced consumer spending on luxury items.
Conclusion:
Kenrik Industries Limited presents a promising investment opportunity with its diverse product range, skilled workforce, and consistent financial growth.
However, potential investors should consider the risks associated with its limited operating history, high working capital needs, intense market competition, and sensitivity to economic fluctuations.
Kenrik Industries Limited Contact Details
Contact Information
- Company Address: 171/FF/9, Bhawani Chambers, Hathi Khana, Ahmedabad – 380001, Gujarat, India
- Phone: +91-9687141430
- Email: cs@kenrikindustries.net
- Website: www.kenrikindustries.net
Registrar:
Skyline Financial Services Private Limited
- Address: D-153A, 1st Floor, Okhla Industrial Area Phase-I, New Delhi – 110020, India
- Phone: +91-11-40450193-197
- Email: info@skylinerta.com
- Website: www.skylinerta.com
Lead Manager:
Turnaround Corporate Advisors Private Limited
- Address: 714, Vishwadeep Building, Plot No. 4, District Centre, Janak Puri, New Delhi – 110058
- Phone: +91-11-45510390
- Email: info@tcagroup.in
- Website: www.tcagroup.in
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