IPO Details

Bidding Dates

29 Apr '25 - 06 May '25

Minimum Investment

₹1,50,000/ 1 Lot (6,000 Shares)

Price Range

₹25

Maximum Investment

₹1,50,000/ 1 Lot (6,000 Shares)

Retail Discount

To be announced

Issue Size

₹8.75 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)   |  

Kenrik Industries IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Apr 29, 25

IPO Closing Date

May 06, 25

Basis of Allotment

May 07, 25

Initiation of Refunds

May 08, 25

IPO Listing Date

May 09, 25

Kenrik Industries IPO Subscription

DateQIBRetailTotal

Day 1Apr 28, 2025

 0.02 0.43 0.23

About Kenrik Industries IPO

Kenrik Industries is launching its IPO with a fixed issue size of ₹8.75 crore. This IPO is a fresh issue of 34.98 lakh equity shares. The subscription window opened on April 29, 2025, and will close on May 6, 2025. The allotment is likely to be finalised on May 7, 2025, and the shares are expected to be listed on the BSE SME platform by May 9, 2025. 

The IPO is priced at ₹25 per share. Retail investors need to apply for a minimum lot size of 6,000 shares, which amounts to an investment of ₹1,50,000. High Net-Worth Individuals (HNIs) must apply for at least 2 lots, i.e., 12,000 shares worth ₹3,00,000.

The lead manager handling the IPO is Turnaround Corporate Advisors Private Limited, and Skyline Financial Services Private Ltd is acting as the registrar. Mnm Stock Broking Private Limited has been appointed as the market maker for this issue.

This IPO offers an opportunity for investors to participate in a company engaged in the design and distribution of traditional Indian jewellery.

Industry Outlook

  1. India’s gems and jewellery market was valued at US$ 78.5 billion in FY21, with total exports reaching US$ 37.73 billion in FY23. Despite a 16.03% dip in FY24 exports, the sector is supported by increasing global demand and trade agreements like CEPA with UAE and ECTA with Australia, helping revive long-term growth.
  2. India has 10 SEZs for gems and jewellery, housing over 500 units that contribute 30% to total exports. Kenrik Industries can benefit by leveraging SEZ infrastructure and export incentives to increase efficiency and reduce operational costs.

Kenrik Industries IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. The company plans to use part of the IPO proceeds to meet the company’s working capital needs, helping to support day-to-day business operations and ensure smooth growth.
  2. The remaining funds will be used for general corporate purposes.

About Kenrik Industries Limited 

Kenrik Industries Limited was incorporated on February 28, 2017, under the Companies Act, 2013, as a private limited company. The company is engaged in manufacturing, wholesaling, and supplying plain and studded gold jewellery, primarily focusing on traditional Indian designs. Its offerings include rings, earrings, necklaces, bangles, chains, and other wedding jewellery studded with precious and semi-precious stones like diamonds, rubies, and cubic zirconia.

The company caters to various market segments, including high-end, mid-market, and value customers. All jewellery is crafted based on specific customer preferences and is produced on a job work basis at its manufacturing unit in Ahmedabad, Gujarat.

Kenrik Industries operates on a B2B model, building strong relationships with retailers and wholesalers. Its sales team actively markets products through direct visits and referrals, contributing to business growth. The company deals only in BIS Hallmark-certified jewellery, ensuring the purity and quality of its products.

Without long-term supplier contracts, the company sources gold flexibly from multiple vendors to benefit from competitive prices. Located in a vibrant bullion market, the company enjoys access to a wide range of suppliers.

Guided by promoters Nitinkumar Dalpatbhai Shah and Nihar Nitinbhai Shah, who bring years of industry experience, Kenrik Industries continues to focus on quality, timely delivery, and customer satisfaction.

How To Check the Allotment Status of Kenrik Industries IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for the Kenrik Industries IPO Online?

  1. Log in to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Kenrik Industries IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Kenrik Industries IPO 

Registered office: B-306, East Face, Behind Maruti Suzuki Showroom, Nr. S P Ring Road, Ambli Road, Ambli, Daskroi, Ahmedabad, Gujarat – 380058

Phone: +91-8460085869

E-mail: cs@kenrikindustries.net

Kenrik Industries IPO Reservation

Investor Category

Shares Offered

Market Maker Shares Offered

1,80,000 (5.15%)

Other Shares Offered

16,56,000 (47.34%)

Retail Shares Offered

16,62,000 (47.51%)

Kenrik Industries IPO Lot Size

Application

Lots

Shares

Amount (in ₹)

Retail (Min)

1

6,000

1,50,000

Retail (Max)

1

6,000

1,50,000

HNI (Min)

2

12,000

3,00,000

Kenrik Industries IPO Promoter Holding

Nitinkumar Dalpatbhai Shah, Nihar Nitinbhai Shah, Manisha Nitinkumar Shah, Shah Nitin Dalpatlal (HUF) are the promoters of the company.

Share Holding Pre-Issue

99.99%

Share Holding Post Issue

72.01%

Note: Equity dilution is determined by subtracting the Share Holding Post Issue from the Share Holding Pre Issue.

Key Performance Indicators for Kenrik Industries IPO

KPI

Value

RoE (%)

9.01

RoCE (%)

10.85

Debt/Equity

0.06

PAT Margin

1.53

Kenrik Industries IPO Prospectus

Kenrik Industries IPO Registrar and Lead Managers

Kenrik Industries IPO Lead Managers

  • Turnaround Corporate Advisors Private Limited

Registrar for Kenrik Industries IPO

Skyline Financial Services Private Limited

  • Contact Number: 02228511022

Kenrik IndustriesIPO Registrar

Financial Performance of Kenrik Industries Limited

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ lakh) 7077.05 5188.42 3258.71
Profit after Tax (in ₹ lakh) 108.46 47.44 38.12
Earnings per Share (₹) 1.21 0.53 0.51
Total Borrowings (in ₹ lakh) 77.70 56.50 34.95
Return on Equity (RoE in %) 9.01 4.21 4.51
EBITDA (in ₹ lakh) 146.43 66.91 54.63

Know before investing

Strengths

5

  1. Maintains competitive pricing while upholding high-quality jewellery craftsmanship.

  2. Strong distribution network supports timely deliveries across states and markets.

  3. Offers a wide range of jewellery for every taste and budget.

  4. Focus on sustainability appeals to eco-conscious and modern buyers.

  5. Employs skilled artisans with decades of jewellery-making experience.

Risks

5

  1. Gujarat state revenue dependency high at ₹6934.85 lakhs in FY24.

  2. Customer complaints or bad publicity may hurt business and reputation.

  3. Inventory valued at ₹1374.43 lakh may raise holding costs.

  4. Gold price fluctuation impacts customer demand and sales performance.

  5. Negative cash flow reported up to October 2024 raises concerns.

  • How to Apply in IPO
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Kenrik Industries Limited Peer Comparison

Company Name EPS (Basic) RoNW (%) P/E (x)
Kenrik Industries Limited 1.18 8.42 -
Veerkrupa Jewellers Limited 0.31 1.83 4.06
Motisons Jewellers Limited 4.3 9.82 38.68
Khazanchi Jewellers Limited 11.01 14.55 28.15

Kenrik Industries IPO FAQs

What is the Kenrik Industries IPO?

Kenrik Industries IPO is a fixed price issue IPO. It will be open from April 29, 2025, to May 6, 2025. 

When will the Kenrik Industries IPO be allotted?

The Basis of Allotment will happen on Wednesday, May 7, 2025.  

When will the Kenrik Industries IPO open for subscription?

The IPO subscription window will open on April 29, 2025. 

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 6,000 shares. 

When will Kenrik Industries Limited list on exchanges?

The listing date for Kenrik Industries Limited is Friday, May 9, 2025. 

What is the issue size of the Kenrik Industries IPO?

The issue size of the Kenrik Industries IPO is up to ₹8.75 crore.

What are the open and close dates of the Kenrik Industries IPO?

The open and close dates for Kenrik Industries IPO are from April 29, 2025, to May 6, 2025.

What would be the listing gains on the Kenrik Industries IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.  

How to increase your chances of getting an Kenrik Industries IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Kenrik Industries IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate. 

Can I submit more than one application for the public issue of Kenrik Industries Limited using one PAN?

You can submit only one application using your PAN card. 

How to read Kenrik Industries Limited's financial statements?

To read Kenrik Industries Limited’s financial statements, download the IPO’s RHP document. 

What is 'pre-apply' for the Kenrik Industries IPO?

Pre-apply allows investors to apply for the Kenrik Industries IPO two days before the subscription period opens, ensuring an early submission of your application. 

If I pre-apply for the Kenrik Industries Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours. 

When will I know if my Kenrik Industries Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts. 

Who is the registrar of Kenrik Industries IPO?

Skyline Financial Services Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries. 

Where is the Kenrik Industries IPO getting listed?

Kenrik Industries IPO is proposed to be listed on the SME platform of the Bombay Stock Exchange (BSE).