Kenrik Industries share price: Stock makes flat listing on BSE SME platform

The stock listed at ₹25.01 per share, a premium of a mere 0.04% or ₹0.01, over the issue price of ₹25 apiece.

As the minimum lot size was 6,000 shares, investors who were allotted Kenrik Industries shares made gains of just ₹60 per lot (₹25.01 x 6,000).

Kenrik Industries IPO was booked two times. The portion set aside for retail investors was subscribed 3.79 times, while the non-institutional investors or NIIs category was subscribed 20%.

The initial public offering was a fresh issuance of 34.98 lakh equity shares worth ₹8.75 crore without any offer for sale (OFS) component. It was a fixed-price issue at ₹25 per share.

The funds generated will be used to the tune of ₹6.56 crore for working capital requirements as well as ₹1.80 crore for general corporate purposes.

Kenrik Industries makes traditional gold jewellery fitted with diamonds, rubies and other precious and semi-precious stones. Its products include pendants, armlets, earrings, nose rings, rings, chains, bracelets, necklaces, watches, bangles, and wedding jewellery.

The company's net profit was ₹1.08 crore for the financial year 2023-24, compared to ₹0.47 crore in the year-ago fiscal. Revenue from operations was ₹70.97 crore in FY24, up from ₹52.04 crore in the previous fiscal.