Packaging firm Shri Krishana Overseas eyes NSE listing

Dr Sonvir Singh, Managing Director Shri Krishana Overseas limited. [File, Standard] Shri Krishana Overseas Limited (SKL), a Kenyan packaging solutions provider has announced plans to list on the Nairobi Securities Exchange (NSE). The homegrown company announced its intention to list on the Nairobi bourse's Growth Enterprises Market Segment (GEMS) subject to regulatory approvals. The GEMS is a platform on the NSE designed to facilitate access to capital for small and medium-sized enterprises (SMEs). GEMS provides a more flexible regulatory framework compared to the main board of the NSE, recognizing the unique needs and growth stages of smaller companies. This includes more relaxed listing requirements, allowing companies with shorter operating histories and lower revenue levels to access public markets. By listing on GEMS, companies gain access to a wider pool of investors, enhance their visibility and credibility, and improve their corporate governance practices. The GEMS segment plays a crucial role in supporting the growth and development of the Kenyan private sector by providing a platform for SMEs to access capital and fuel their expansion. Dr Sonvir Singh, Managing Director of SKL. emphasized the strategic importance of the planned NSE listing to the company. "The world's most successful companies are listed. While family-owned businesses have their strengths, listed companies operate in a more structured, compliant, and transparent manner, ensuring sustainability beyond the founders," he said If approved, SKL will become the first packaging solutions company to be listed on the NSE and the exchange's first new listing since 2020. Frank Mwiti, CEO of the Nairobi Securities Exchange (NSE), welcomed SKL's listing plans. "The NSE is not here to replace banks-banks remain a crucial part of the financial sector. We complement each other. There is a reason why some of the biggest businesses in Kenya are listed on the NSE." "As of Friday, our market capitalization stood at Sh1.9 trillion, and our bond market traded close to Sh1.2 trillion. The opportunities are immense, and liquidity is available to help businesses grow." Vimal Shah, Co-Founder and Chairman of Bidco Group, emphasized the need for government support to encourage more companies to list on the NSE. "Banks are investing in Treasury bills and bonds, creating a capital shortage for the private sector. A reset is needed to encourage more listings like SKL's, which will foster economic growth." Nirmal Chaudhary, Financial Director of SKL said the listing plan would mark an important milestone for the company. "We are gathered not just to launch a business but to realize a vision-one rooted in sustainability, innovation, and a commitment to providing eco-friendly packaging solutions," he said. Since its inception in 2013, SKL has experienced remarkable growth, expanding its operations significantly. "We started with minimal turnover in our first four months. Within a year, that number grew by an incredible 4,000 per cent. By the second year, we doubled that growth, and by the third year, we tripled our turnover," said Dr Singh. The company is currently undergoing a major expansion, constructing a new state-of-the-art plant in Kajiado County. It reckons this expansion, supported by SBM Bank, will significantly increase production capacity, enabling SKL to meet growing demand in the Kenyan market.

Packaging firm Shri Krishana Overseas eyes NSE listing

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