Kenrik Industries IPO booked 21% on Day 1 so far, retail portion subscribed 39%; check GMP, subscription status, more
Kenrik Industries IPO has opened for subscription today (Tuesday, April 29) and will close on Friday, May 2. Kenrik Industries IPO price band has been fixed at ₹ 25 per equity share of face value of ₹ 10 each. Bids can be made for a minimum of 6,000 equity shares and in multiples of 6,000 equity shares thereafter.
Established in 2017, Kenrik Industries Limited specializes in the design and distribution of traditional Indian jewellery. The company's offerings include handmade gold jewellery adorned with precious and semi-precious stones, such as diamonds, rubies, and cubic zirconia.
Kenrik Industries boasts a broad portfolio that features rings, earrings, armlets, pendants, nose rings, bracelets, chains, necklaces, bangles, watches, luxury items, and wedding jewellery. These products are tailored to fulfill specific customer needs and are produced on a job-work basis at the company's facility situated in Ahmedabad, Gujarat.
Currently, Kenrik Industries functions under a Business-to-Business (B2B) model, serving clients in high-end, mid-market, and value market segments. The company places a strong focus on quality control, inventory management, and business development, ensuring that all jewellery comes with BIS Hallmark certification.
As per the red herring prospectus (RHP), the company's listed peers are Veerkrupa Jewellers Ltd (with a P/E of 4.06), Motisons Jewellers Ltd (with a P/E of 38.68), and Khazanchi Jewellers Ltd (with a P/E of 28.15).
Kenrik Industries IPO subscription status is 21%, on day 1, so far. The retail portion was subscribed 39%, and NII portion was booked 2%.
The company has received bids for 6,90,000 shares against 33,18,000 shares on offer, at 14:24 IST, according to data on chittorgarh.com
Kenrik Industries IPO consists of a fresh issue of 34,98,000 equity shares, aggregating to ₹ 8.75 crore. There's no offer for sale (OFS) component.
Kenrik Industries plans to use the net proceeds from its IPO for several purposes, including fulfilling working capital needs and covering general corporate expenses.
Turnaround Corporate Advisors Private Limited serves as the book-running lead manager for the Kenrik Industries IPO, whereas Skyline Financial Services Private Ltd functions as the registrar for this issue. The market maker for the Kenrik Industries IPO is Mnm Stock Broking Private Limited.
Kenrik Industries IPO GMP or grey market premium was ₹ 0, which meant shares were trading at their issue price of ₹ 25 with no premium or discount in the grey market according to investorgain.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
First Published: 29 Apr 2025, 02:37 PM IST
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
31 minutes ago
- Time of India
Too ‘founder-y' to hire, not corporate enough to fit in: Former startup owner's candid job hunt post strikes a chord on Reddit
It's a story that doesn't get much attention, TED talks, or VC applause—but one that's becoming increasingly common. A Reddit post on r/StartUpIndia from a former Indian startup founder has opened the floodgates of empathy and brutal truth about the aftermath of a failed entrepreneurial journey . After building a health-focused food and beverage product with two friends—bootstrapping, multitasking, and learning everything from scratch—he now finds himself lost in a job market that doesn't know where to place him. 'We Built, We Burned, Now What?' The post reads like a quiet elegy to a dream that once soared. The founder speaks of wearing every possible hat—from marketing and finance to customer support and design. No AI tools then, just endless Google searches and YouTube tutorials. Despite the hustle, the venture hit a ceiling—unable to scale, with no funds left to pump in. His partners stepped away, and the founder reluctantly began job hunting, only to be met with silence or, worse, rejection for being 'overqualified,' 'too founder-y,' or 'not domain-specific enough.' The Dilemma of the 'Misfit' He's not asking for a CXO role. Just a chance to contribute—to bring the value of lived, practical experience into structured setups. But the corporate world, as netizens pointed out, often sees people like him as unsafe bets. 'They want people who can innovate within their control,' one user wrote, echoing a harsh truth. In a system that prizes predictability over potential, founders are sometimes viewed with suspicion. Netizens Share Brutal Truths and Hope The post has garnered strong, supportive reactions from fellow Redditors and professionals. One suggested looking into startups within the same industry. Another spoke about the Indian corporate system's rigidity when it comes to reabsorbing former entrepreneurs. 'You, my friend, will have to search harder,' they wrote. Yet another comment advised the path of an Entrepreneur-in-Residence (EiR), using past mistakes as fuel for new guidance. There's also a silver lining. As one commenter noted, 'Take one skill you truly own… and share it.' Whether through learning platforms, consultancy, or new ventures, those hard-earned insights don't need to die quietly. They can be repurposed and rebranded. Because in this era of AI-led disruption and rapid change, real experience still holds immense, if underappreciated, power. The Bottom Line Not all founder stories end with acquisition, IPOs, or Forbes covers. Some end in silence, in resumes ignored, in doors half-open. But these quiet chapters deserve to be told—because they are real, raw, and deeply human. And perhaps, like the Redditor in question, others floating in the 'in-between' will find solace in knowing they're not alone.
Time of India
32 minutes ago
- Time of India
Indian students made up one in four international students in US in 2024: ICE report
Indian students accounted for nearly 27% of all international students in the United States in 2024, according to the latest report by US Immigration and Customs Enforcement (ICE). The report, titled SEVIS by the Numbers 2024, shows that 4.2 lakh Indian students were actively enrolled in the US, marking an 11.8% increase from 2023. This growth helped push the total number of foreign students in the US to 15.8 lakh — a 5.3% rise over the previous year. As per a report by Lubna Kably in the Times of India, the data comes from the Student and Exchange Visitor Information System (SEVIS), a tool used by the US Department of Homeland Security to track foreign students. F-1 visas are issued for academic programs, while M-1 visas are used for vocational training. Asia remained the largest source region, with nearly 11 lakh students — making up 72% of the total foreign student population. India and China were the two top source countries. While Indian student numbers rose sharply, China saw a slight decline of 0.25%, with 3.2 lakh students in 2024. The ICE report highlights that more than 90% of foreign students — about 14.3 lakh — were enrolled in higher education degree programs. California and New York were the top destinations for international students, hosting 2.37 lakh and 1.72 lakh students respectively. (Join our ETNRI WhatsApp channel for all the latest updates) However, new data for the March 2024 to March 2025 period suggests a sharp reversal in trend. Chris R. Glass, a professor at Boston College, studied SEVIS data and reported an 11.3% drop in total active international student records. The number fell from 11.53 lakh in March 2024 to 10.22 lakh in March 2025. Live Events You Might Also Like: Columbia Crisis: Trump's crackdown sends chill through Indian students Indian student numbers dropped significantly by 28%, from 3.54 lakh to 2.55 lakh. In contrast, Chinese student numbers rose slightly to 2.63 lakh, an increase of 3.28%. Glass said, 'The current year-over-year decline is a reflection of an enrollment cycle that began under the Biden administration, so the March 2025 numbers have yet to reflect any impacts of policies implemented under the second Trump administration.' Experts point to several reasons for the recent fall in Indian student numbers — including the arbitrary termination of F-1 visas and SEVIS records, legal uncertainties, delays in consular services due to planned social media scrutiny rules, doubts about the continuation of the STEM-OPT program, and widespread layoffs in the US job market. These factors could push student numbers further down in 2026. Despite recent declines, Indian students continue to lead in the Science, Technology, Engineering and Mathematics (STEM) fields. In 2024, nearly 1.65 lakh international students received a two-year STEM OPT extension after graduation. Of these, 48% were Indian students and 20.4% were Chinese. You Might Also Like: UK tightens student visa rules: Shorter stays, stricter checks, fewer perks The number of OPT students overall also increased. About 1.94 lakh international students in 2024 had employment authorization and were working in the US under the OPT program, a 21.1% rise from 2023. These figures reflect both the growing interest of Indian students in the US and the challenges they now face amid changing visa policies and immigration uncertainties. You Might Also Like: Indian students look beyond the 'Big 4' for study-abroad dreams
Economic Times
32 minutes ago
- Economic Times
Indian markets advance in May, powered by 22% defence rally and microcap strength
Indian equities posted broad-based gains in May 2025, led by a stellar 22% surge in defence stocks and strong double-digit returns in microcap indices, as investors rotated into risk-on segments amid improving domestic sentiment and supportive global cues. ADVERTISEMENT The Nifty Microcap 250 jumped 12.10% in May, marking the strongest performance among major indices, while the Nifty Smallcap 250 gained 9.59% and the Nifty Midcap 150 rose 6.30%, according to Motilal Oswal. The benchmark Nifty 50 advanced 1.71% during the month, while the broader Nifty 500 climbed 3.50%, aided by sustained buying in industrials, consumer discretionary, and financial services. Sectorally, defence stocks delivered the most significant outperformance in May, rallying 21.84%, supported by strong order visibility, government-led indigenisation efforts, and continued investor interest in strategic manufacturing. The defence index has now gained 30.78% over the past 12 months, making it the top-performing sector both on a monthly and annual basis.'All major sectors shown positive trend except for FMCG and Utilities which saw a downtrend during this period of -0.09% and -0.04% respectively,' Motilal Oswal said in the report. ADVERTISEMENT Factor-based investing strategies also posted solid gains. The Momentum index rose 5.40%, followed by the Quality index with a 4.82% gain. The Enhanced Value index advanced 4.20%, while the Low Volatility index recorded a 1.39% strength in factor strategies, particularly Momentum and Quality, reflected investor preference for trend-following and fundamentally sound stocks amid a backdrop of robust earnings and favourable macro indicators. ADVERTISEMENT The broader market significantly outperformed large-cap peers through the month. The Nifty Next 50 gained 3.49%, while the Nifty 500's 3.50% rise was underpinned by strong participation from mid-cap and small-cap segments. ADVERTISEMENT The microcap rally stood out not just in monthly performance but also in year-on-year returns. The Nifty Microcap 250 delivered a 13.74% gain over the past year, while the Nifty Smallcap 250 rose 7.72%.This risk-on shift signalled a return of investor confidence in smaller companies, many of which are seen as high-growth bets with greater exposure to domestic consumption and capex cycles. ADVERTISEMENT The rally gained further momentum into June, after the Reserve Bank of India delivered a larger-than-expected policy rate cut on Friday, June RBI slashed the repo rate by 50 basis points and cut the cash reserve ratio (CRR) to improve banking sector liquidity—moves that were seen as highly accommodative and aimed at stimulating credit sectors responded sharply, with the realty index surging nearly 5% on the day. The BSE Sensex and Nifty 50 snapped a two-week losing streak, registering their first weekly gains in three weeks. The Sensex rose 737.98 points or 0.90%, while the Nifty added 252.35 points or 1% for the week ended June equity markets also contributed to the upbeat tone. The S&P 500 gained 6.15% in May, led by strength in information technology and consumer discretionary sectors. The Nasdaq 100 advanced 9.04%, while the Dow Jones Industrial Average added 3.94%.Emerging markets posted mixed results. Taiwan rose 12.52%, Korea gained 7.69%, and South Africa climbed 4.87%, helped by easing trade tensions and optimism around tariff prices declined 0.74% in May as geopolitical risks eased and demand for safe-haven assets moderated. In digital assets, Bitcoin rallied 11.11%, while Ethereum ended the month large-cap benchmark, the Nifty 50, ended May with a 1.71% gain, its third consecutive monthly rise, capping a rally driven by sectoral strength, broader market leadership, and supportive domestic and global June beginning on a bullish note following the RBI's unexpected rate easing, investors now turn to macroeconomic data and corporate earnings for further cues on the market's trajectory. Also read | 8 reasons why India cannot be ignored by FIIs (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
