The proceeds from the IPO will be used for working capital requirements (Rs 6.5 crore) and general corporate expenses (Rs 1.8 crore). The company aims to use these funds to also support the growth plans and help improve its operational capabilities.
Kenrik Industries IPO price band and GMP
Kenrik Industries IPO is being offered to investors at a fixed price of Rs 25 per share with a minimum lot size of 6,000 shares. About 50% of the offer is reserved for retail investors and the rest 50% for other investors. The GMP for Kenrik Industries is not yet available.
Kenrik Industries: Company overview
Kenrik Industries specializes in designing and distributing traditional Indian jewellery, including handmade gold jewellery studded with diamonds, rubies, cubic zirconia, and other precious stones.
Operating under a business-to-business (B2B) model, Kenrik caters to a wide range of customers across high-end, mid-market, and value market segments.The company’s product range includes rings, earrings, pendants, bracelets, necklaces, wedding jewellery, and more. The jewellery is crafted at the company’s facility in Ahmedabad, Gujarat, with a focus on quality control and inventory management.Kenrik saw healthy growth in its financials with a reported revenue of Rs 70.97 crore in FY24, up from Rs 52 crore in FY23. Its profit for FY24 stood at Rs 1.08 crore.
Turnaround Corporate Advisors is the book-running lead manager, while Skyline Financial Services is the registrar for the IPO
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