Kenrik Industries IPO allotment: Check status, GMP, listing date and other details
The allotment for Kenrik Industries IPO is likely to be finalised on May 7. Investors will be able to check their allotment status on the registrar website, Skyline Financial Services or through BSE. The IPO, which was open from April 29 to May 6, garnered a healthy retail subscription of 3.8x. The allotment is expected to be tight in the retail category. The overall subscription stood at 2x.
ADVERTISEMENT The shares will be credited to bidders' demat accounts by May 8, and refunds for unallotted investors will also be processed on the same day. The company is set to debut on the BSE SME platform on May 9.
Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)
Step 2: Please select the issue name, that is the company's name in the drop down.
Step 3: Enter the application number or PAN number to check the allotment status.
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Step 1: Visit the Skyline Financial Services website (https://www.skylinerta.com/ipo.php)
Step 2: Select Kenrik Industries IPO
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Step 3: Enter the PAN details and click search to know the status
ADVERTISEMENT The Rs 8.75 crore IPO was entirely a fresh issue of 34.98 lakh shares at a fixed price of Rs 25 per share. The IPO proceeds will largely be used to bolster working capital (Rs 6.56 crore) and meet general corporate expenses (Rs 1.8 crore), helping the company scale up operations and manage its growing inventory and vendor relationships.Kenrik Industries, based in Ahmedabad, operates in the traditional Indian jewellery segment through a B2B model. The company designs and distributes handmade gold and stone-studded jewellery, catering to high-end and mid-market customers.The company generated revenue of Rs 70.97 crore in FY24, with a PAT of Rs 1.08 crore.
ADVERTISEMENT At the issue price of Rs 25, Kenrik Industries is valued at a market cap of Rs 31.24 crore. The post-issue P/E ratio stands at 23.31x based on annualised earnings as of October 31, 2024, while the RoNW is at 8.62%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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