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Kenrik Industries Ltd plans to raise up to Rs. 8.75 crore from Public Issue; IPO open till May 6, 2025
Highlights: Fresh Public issue of Rs. 8.75 crore opens for subscription from April 29 to May 6 Minimum lot size for application is 6000 shares; Minimum IPO application amount Rs. 1,50,000 Funds raised through the issue will be used for working capital requirements and general corporate purposes For FY23-24, the company reported revenues of Rs. [...]
Highlights:
- Fresh Public issue of Rs. 8.75 crore opens for subscription from April 29 to May 6
- Minimum lot size for application is 6000 shares; Minimum IPO application amount Rs. 1,50,000
- Funds raised through the issue will be used for working capital requirements and general corporate purposes
- For FY23-24, the company reported revenues of Rs. 70.97 crore and Net Profit of Rs. 1.08 crore; For the seven months of FY25 ended 31st October 2024, the company reported revenue of Rs. 42.19 crore and Net Profit of Rs. 78 lakh
- Turnaround Corporate Advisors Private Limited is the lead manager of the issue.
Ahmedabad (Gujarat) [India], April 29: Gujarat based Kenrik Industries Ltd, company engaged in the design and distribution of traditional Indian jewellery is planning to raise up to Rs. 8.75 crore from its SME public issue. The company has received approval to launch its public issue on BSE SME Platform. The public issue open for subscription on April 29 and closes on May 6. The Proceeds of the public issue will be used for business expansion including Funding working capital requirements and general corporate purposes. • Turnaround Corporate Advisors Private Limited is the lead manager of the issue.
The initial public offering of Rs. 8.75 crore comprises of a fresh issue of 34.98 lakh equity shares of face value Rs. 10 each at Rs. 25 per share. Out of the fresh issue of Rs. 8.75 crore, the company plans to utilise Rs. 6.56 crore towards meeting working capital requirements and Rs. 1.8 crore towards the general corporate purpose. Minimum lot size for the application is 6000 shares, which translates into an investment of Rs. 1,50,600 per application. Retail investor quota for the IPO is kept at 47.51% of the offer. Promoter holding post issue will be 72.01%.
