Market News
2 min read | Updated on May 06, 2025, 13:39 IST
SUMMARY
Kenrik Industries IPO allotment will be finalised on Wednesday, May 7. The bid finalisation details will be available on the websites of BSE and Skyline Financial Services.
Kenrik Industries designs and distributes traditional Indian jewellery studded with precious and semi-precious stones. | Image: Shutterstock
Kenrik Industries IPO has been subscribed 1.73 times so far on Tuesday, May 6, the final day of bidding.
The part reserved for retail investors has been subscribed 3.26 times, while non-institutional investors (NIIs) portion has been booked 19%.
The ₹8.75 crore initial public offering is a pure fresh issuance of 34.98 lakh equity shares. There is no offer for sale component.
Funds to the tune of ₹6.56 crore will be used to meet working capital requirements and ₹1.80 crore for general corporate purposes.
It is a fixed-price issue at ₹25 per share. Retail investors can apply for a minimum of one lot, consisting of 6,000 shares worth ₹1,50,000. For high-net-worth individuals, the minimum investment is ₹3,00,000.
Kenrik Industries designs and distributes traditional Indian jewellery studded with precious and semi-precious stones. Its portfolio includes rings, armlets, pendants, earrings, nose rings, chains, necklaces, bracelets, bangles, luxury items, watches, and wedding jewellery.
The net profit was ₹1.08 crore in the financial year 2023-24, compared to ₹0.47 crore in FY23. Its revenue from operations in FY24 stood at ₹70.97 crore, as against ₹52.04 crore in the previous fiscal year.
Related News
About The Author
Next Story