Kenrik Industries, Arunaya Organics IPOs open for subscription; all you need to know

Upcoming IPOs: The SME initial public offerings of Arunaya Organics Ltd and Kenrik Industries Ltd opened for subscription on Tuesday, April 29.

Shares of Arunaya Organics will list on the NSE SME platform Emerge, while Kenrik Industries shares will debut on BSE SME.

Kenrik Industries IPO

The ₹8.75 crore initial share sale is completely a fresh issue of ₹34.98 lakh shares. The money raised will be used for working capital requirements and corporate general purposes.

It is a fixed-price issue at ₹25 per share, and a lot size is 6,000 shares. The minimum investment requirement is ₹1,50,000.

The issue will conclude on May 6. The basis of allotment will be finalised on May 7. Shares will be credited to the Demat account of successful investors on May 8, and refunds for non-allottees will be processed on the same day. The listing will occur on May 9.

Turnaround Corporate Advisors Pvt Ltd is the lead manager, while Skyline Financial Services is the registrar.

Kenrik Industries designs and distributes traditional Indian jewellery. Its product range features handmade gold jewellery fitted with precious and semi-precious stones.

The company's portfolio includes rings, armlets, earrings, pendants, nose rings, chains, necklaces, bracelets, bangles, luxury items, watches, and wedding jewellery.

Arunaya Organics IPO

Arunaya Organics IPO is a mix of a fresh issuance of 52.60 lakh shares and an offer for sale of 3.48 crore, taking the total issue size to ₹33.99 crore.

The price band is ₹55 to ₹58 per share. Investors can apply for one lot of 2,000 shares, needing an investment of ₹1,10,000.

Unistone Capital is the issue's book-running lead manager, while Bigshare Services is the registrar.

Arunaya Organics manufactures and exports speciality dyes and intermediates.