Kenrik Industries Ltd IPO

About Kenrik Industries Ltd

Our Company was originally incorporated as Private Limited Company in the name of Kenrik Industries Private Limited on February 28, 2017 under the provision of the Companies Act, 2013 bearing Corporate Identification Number U36101GJ2017PTC095995 issued by Central Registration Centre, Registrar of Companies. Subsequently, Our Company was converted into Public Limited Company under the Companies Act, 2013 and the name of Our Company was changed to Kenrik Industries Limited vide a fresh Certificate of Incorporation consequent upon conversion from Private Company to Public Company dated April 27, 2018 bearing Corporate Identification Number U36101GJ2017PLC095995 issued by Registrar of Companies - Ahmedabad.

As of January 2022, India's gold and diamond trade contributed 7% to India's Gross Domestic Product (GDP). The gems and jewellery sector has employs 5 million. Based on its potential for growth and value addition, the Government declared the gems and jewellery sector as a focus area for export promotion. The Government has undertaken various measures recently to promote investment and upgrade technology and skills to promote `Brand India' in the international market. The Government has permitted 100% FDI in the sector under the automatic route, wherein the foreign investor or the Indian company do not require any prior approval from the Reserve Bank or the Government of India. The Indian Government also signed a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) in March 2022, this will allow the Indian Gems and Jewellery industry to further boost exports. CEPA will provide the industry with duty-free access to the UAE market. India's Gems Jewellery Export Promotion Council (GJEPC) aims to triple its exports to the UAE post the CEPA. MARKET SIZE India's gems and jewellery market size was at US$ 78.50 billion in FY21. Growth in exports is mainly due to revived import demand in the export market of the US and the fulfilment of orders received by numerous Indian exhibitors during the Virtual Buyer-Seller Meets (VBSMs) conducted by GJEPC. India's total gems and jewellery exports reached US$ 37.73 billion in 2022-23. From April-January 2024, India's gems and jewellery exports were at US$ 26.35 billion, a 16.03% decline compared to the previous year's period.

Our Company was originally incorporated as a private limited company in the name of Kenrik Industries Private Limited on 28th February, 2017 under the Companies Act, 2013 vide certificate of incorporation issued by the Deputy Registrar of Companies for and on behalf of the Jurisdictional Registrar of Companies, Registrar of Companies, Central Registration Centre and since then, commenced its business in manufacturing, wholesaling and supplying of plain and studded gold Jewellery and Ornaments. Our Company is mainly focused on traditional Indian jewellery. Our products include handmade gold jewellery studded with precious and semi-precious stones such as diamond, ruby, cubic zirconia etc. Our product portfolio includes rings, earrings, armlet, pendants, nose rings, bracelets, chains, necklaces, bangles, watches, luxury items and other wedding jewellery. Our products cater to the customers across high-end, mid-market and value market segments. The jewelleries are made as per the specific requirements by the customer and the same are manufactured on job work basis at our manufacturing unit situated in Ahmedabad, Gujarat.

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