Kenrik Industries Ltd. IPO

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. Although, Our Company has several regular suppliers with whom it frequently sources its raw material from, the Company does not have any fixed supplier contracts. The primary reason for not having any long term supply contracts is the volatility in pricing of the raw material which makes it impossible to have any long term arrangement. The raw material we require is essentially gold which is a very standardised product and is widely available from a number of suppliers. Availability of raw materials is generally not a big issue in the business. Our Company maintains full flexibility in sourcing, ensuring that the Company can take advantage of competitive pricing and better-quality materials from various suppliers in the market. Our Company operates its business in a region that is well known for its dynamic bullion and jewellery market, where numerous buyers and sellers interact, providing the Company with ample opportunities to connect with a diverse range of suppliers. This enables us to pivot quickly and choose from a broad range of vendors depending on current market conditions. Sales team of the Company plays a vital role in driving business by engaging in direct marketing and personally visiting potential clients within the jewellery industry to showcase the products and secure its orders. In addition to direct outreach, client referrals significantly contribute to the new business, as reputation of the Company for delivering high quality products fosters trust within the industry. The Company’s long-standing relationships with key players, including both retailers and wholesalers, have helped us to build a reliable network of repeat clients, ensuring sustained business growth and success. We are currently operating on a primarily on a B2B business Model and offer our customers a broad variety of jewelleries and ornaments. As we are currently operating under a B2B business Model, we focus on operations relating to quality control, inventory management and business development. The Company deals only in jewellery certified by BIS Hallmark. The BIS hallmark is a mark of conformity widely accepted by the consumer bestow the additional confidence to the consumer on the purity of our gold jewellery. To reach up to the utmost customer satisfaction level, we focus on jewelleries based on the customer preference(s).Our company has website as well as mobile application which facilitates in expansion of our business. Read more

Our Company was originally incorporated as ‘Kenrik Industries Private Limited’ on February 28, 2017 under the provision of the Companies Act, 2013 bearing Corporate Identification Number U36101GJ2017PTC095995 issued by the Deputy Registrar of Companies for and on behalf of the ... Jurisdictional Registrar of Companies, Registrar of Companies, Central Registration Centre. Subsequently, our company was converted into a 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 Assistant Registrar of Companies, Ahmedabad.

INDIAN GEMS & JEWELLERY INDUSTRY
INTRODUCTION
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. Read more