NAIROBI, Kenya, July 25 – Packaging firm Shri Krishana Overseas (SKL) Ltd hopes to raise capital after its shares started trading at the Nairobi Securities Exchange (NSE).
Yesterday, the firm listed 50.5 million ordinary shares at an offer price of Sh5.9 under NSE’s Small and Medium Enterprises (SME) Market Segment. Immediately, it offered 8.7 million ordinary shares for trading.
“Listing on the NSE will now provide us with a platform to fuel our ambitious growth plans, enhance our visibility among investors, and continue our mission to deliver innovative solutions that meet the growing demand for sustainable packaging,” SKL Finance Director and Founder Nirmla Devi said.
“We’re truly excited about this new chapter and the opportunity to create lasting value for both our current and the new investors joining us on this journey.”
SKL also announced that it is currently in the process of putting up a 22,000-tonne packaging materials plant in Kisaju, Kajiado County, which is set to open by the end of 2025.
“Our new facility is meant to meet the growing and sustained demand for packaging solutions from horticulture exports, including avocados, herbs, mangoes, and vegetables,” Devi added.
“There is a similar demand for packaging solutions from the floriculture subsector. We also see increased demand in the FMCG sector as more companies establish manufacturing bases in Kenya and East Africa.”
SKL was established by SKL Managing Director Sonvir Singh and Nirmla Devi in 2009. Initially, SKL operated as a trading company dealing in rice, spices, and other food commodities. SKL has since transitioned into manufacturing and operates a facility based in Nairobi’s Industrial Area.
The transaction advisers for the listing included Synesis Capital as the lead transaction advisor, MWC Legal as the legal advisors, and Afrek and Associates as the reporting accountants. Image Registrars Limited served both as the company secretary’s firm and the registrar, while Prakash Associates acted as auditors.
“By listing we are giving SKL a firmer footing so that it can last beyond the two founders. The listing requirements will give it the structures necessary to support the company’s long-term sustainability. Today’s listing also opens the door for more Kenyan and international investor to share in our success,” Singh stated.
