Last day! Kenrik Industries IPO ends today; check latest subscription, GMP

Kenrik Industries IPO Day 5 update: The initial public offering (IPO) of Kenrik Industries which opened for subscription on Tuesday, April 29, 2025, has received a muted response from investors so far. As of 11.09 AM on Wednesday, day 3 of subscription, the has been subscribed 1.3 times, according to data from the NSE SME platform. The five-day subscription window for the SME IPO will close today, May 6. 

 

The portion reserved for retail investors has been subscribed at 2.96 times and the non-institutional investors (NIIs) portion was subscribed only 17 per cent.

 

Kenrik Industries IPO GMP

The unlisted shares of Kenrik Industries were trading flat at ₹25, the issue price, in the grey markets, according to the sources tracking unofficial markets.

 

Kenrik Industries IPO details

Kenrik Industries aims to raise ₹8.75 crore through a fresh issue of 3.49 million equity shares. There is no offer for sale (OFS) component. Retail investors would require a minimum investment amount of ₹1,50,000 to bid for one lot consisting of 6,000 shares. High-net-worth individuals (HNIs) can bid for a minimum of two lots comprising 12,000 shares with a minimum investment amount of ₹3,00,000. The company has fixed the price band at ₹25

 

The basis of allotment of shares is expected to be finalised on Wednesday, May 7, 2025. The shares of Kenrik Industries will be listed on the BSE SME platform, tentatively on Friday, May 9, 2025, according to the red herring prospectus (RHP).

 

Skyline Financial Services serves as the registrar of the issue. Turnaround Corporate Advisors is the sole book-running lead manager. 

 

According to the red herring prospectus (RHP), the company plans to use ₹6.56 crore from the net issue proceeds to meet working capital requirements and ₹1.8 crore for general corporate purposes. 

 

About Kenrik Industries

Incorporated in February 2017, Kenrik Industries is a manufacturer, wholesaler and supplier of plain and studded gold jewellery and ornaments. It mainly focuses on traditional Indian jewellery. It manufactures handmade gold jewellery studded with precious and semi-precious stones such as diamonds, ruby, cubic zirconia etc. The company's manufacturing facility is located in Ahmedabad, Gujarat.

 

In the financial year 2023-24 (FY25), Kenrik Industries reported a profit after tax (PAT) of ₹1.08 crore, up 128  per cent from previous financial year. Revenue from operations grew 36.4 per cent Y-o-Y to ₹70.77 crore from ₹51.88 crore in FY24.