Kenrik Industries shares list flat on the BSE SME, hit upper circuit later

Kenrik Industries shares, after a flat listing, marched forward to get locked in the 5 percent upper circuit at ₹26.26 per share on the BSE SME on Friday

Kenrik Industries IPO listing: Shares of Kenrik Industries were locked in the 5 per cent upper circuit at ₹ 26.26 per share on the BSE SME, soon after listing flat at ₹ 25.01 per share against its issue price of ₹ 24.5 per share, on Friday, May 9. Trading of the stock has been halted on the exchange since then.

 

Nearly 0.2 million equity shares of Kenrik Industries worth around ₹ 0.52 crore exchanged hands on the BSE SME today.

 

Kenrik Industries IPO listing was in line with the grey market expectations. Prior to the debut, Kenrik Industries shares were trading flat at ₹ 25 apiece in the grey market, as per sources tracking the grey market.  Catch Stock Market LIVE Updates Today 

 

 

Kenrik Industries IPO details

Kenrik Industries’s ₹ 8.75 crore SME IPO consisted of a fresh issue of 3.5 million equity shares, and no offer for sale (OFS) component.

 

The IPO was priced at ₹25 per share, with a minimum lot size of 6,000 shares. It was open for subscription from April 29 to May 6, 2025. The publci offering witnessed muted investor demand and was oversubscribed by 2 times. The basis of allotment of shares was finalised on May 7, 2025.

 

In its Red Herring Prospectus (RHP), Kenrik Industries said that the proceeds from the fresh issue will be utilised to meet working capital requirements as well as for general corporate expenses.

 

Skyline Financial Services serves as the registrar for the public offering, while Turnaround Corporate Advisors acts as the sole book-running lead manager.  ALSO READ | Titan shines 5% on Q4 earnings surprise; should you buy, hold or sell?

 

About Kenrik Industries

Kenrik Industries is a Gujarat-based company that designs and distributes traditional Indian jewelry, offering handmade gold jewelry studded with precious and semi-precious stones. Their product portfolio includes rings, earrings, pendants, nose rings, bracelets, chains, necklaces, and wedding jewelry, catering to high-end, mid-market, and value segments. The company operates on a B2B model, focusing on quality control, inventory management, and business development, with all jewelry certified by BIS Hallmark.