Kenrik Industries Shares Hit Upper Circuit After Flat Listing On BSE SME

(MENAFN- KNN India) New Delhi, May 9 (KNN) Shares of Kenrik Industries reached the 5 per cent upper circuit at Rs 26.26 per share on the BSE SME on Friday, May 9, following a flat listing at Rs 25.01 per share against its issue price of Rs 24.5. Trading was subsequently halted on the exchange.

The company saw approximately 0.2 million equity shares worth around Rs 0.52 crore change hands on the BSE SME today. The listing performance aligned with grey market expectations, where shares were trading at approximately Rs 25 apiece prior to the debut.

Kenrik Industries' Rs 8.75 crore SME IPO comprised a fresh issue of 3.5 million equity shares with no offer for sale component.

The IPO, priced at Rs 25 per share with a minimum lot size of 6,000 shares, was open for subscription from April 29 to May 6, 2025, and received modest investor interest, being oversubscribed by 2 times.

According to its Red Herring Prospectus, proceeds from the fresh issue will fund working capital requirements and general corporate expenses.

Skyline Financial Services served as the registrar, while Turnaround Corporate Advisors acted as the sole book-running lead manager for the offering.

The Gujarat-based company specialises in designing and distributing traditional Indian jewelry, offering handmade gold pieces studded with precious and semi-precious stones.

Its product range includes rings, earrings, pendants, nose rings, bracelets, chains, necklaces, and wedding jewelry across various market segments.

Operating on a B2B model, the company focuses on quality control, inventory management, and business development, with all jewelry certified by BIS Hallmark.

(KNN Bureau)

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