Shares of Kenrik Industries were trading at Rs 26.26 on the BSE, a premium of 5.04% compared with the issue price of Rs 25.
The scrip was listed at Rs 25.01, almost at par with the initial public offer (IPO) price. The stock was currently frozen at its upper limit over its listing price.The counter hit a high of Rs 26.26 and a low of Rs 25.01. About 5.52 lakh shares of the company changed hands at the counter.
Kenrik Industries' IPO was subscribed 1.95 times. The issue opened for bidding on 29 April 2025 and it closed on 6 May 2025. The price of the IPO was fixed at Rs 25 per share.
The IPO comprised fresh issue of 34,98,000 equity shares. The promoter and promoter group shareholding diluted to 72.01% from 99.99% pre-issue.
The company intends to utilize the net proceeds to meet working capital requirements and general corporate purposes.
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Kenrik Industries is engaged in the manufacturing, wholesaling, and supplying of plain and studded gold jewellery and ornaments. The company primarily focuses on traditional Indian jewellery. Its products include handmade gold jewellery studded with precious and semi-precious stones such as diamonds, rubies, cubic zirconia, etc. The companys product portfolio includes rings, earrings, armlets, pendants, nose rings, bracelets, chains, necklaces, bangles, watches, luxury items, and other wedding jewellery. The company had a total of 9 employees.
The company recorded revenue from operations of Rs 42.18 crore and net profit of Rs 0.78 crore for the period ended 31 October 2024.
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