Shri Krishna Overseas Announces Plan to List on Nairobi Stock Exchange

By Catherine Muema On Jul 3, 2024

By Shadrack Nyakoe

Shri Krishana Overseas Ltd, a leading packaging solutions provider, has announced its intention to list by introduction on the Nairobi Securities Exchange (NSE).

Shri Krishana Overseas plans to list by introduction on the NSE’s Small and Medium Enterprises (SME) Market Segment pending the successful submission of its application to the the NSE and the Capital Markets Authority.

The planned listing will see Shri Krishana Overseas become the first packaging solutions company listed on the NSE and the bourse’s first offering since 2020.

Shri Krishana Managing Director and Founder Sonvir Singh said that the packing solutions provider’s transaction advisors have officially submitted the company’s intention to list on the NSE’s SME Market Segment which will pave the way for future capital raising.

“Listing on the NSE’s SME Market Segment is a strategic decision that will provide Shri Krishana Overseas with access to the capital markets, enabling us to raise funds and accelerate our expansion plans in the near future,” said Sonvir.

Dr. Sonvir added that the listing will additionally allow investors to participate in the promising packaging solutions sector which is sustainably growing and supported by diverse demand from the manufacturing, floriculture, and agriculture sectors.

Kenya’s packaging industry has been rising and was worth approximately $585 million as of the end of 2021.

The industry is also shifting towards eco-friendly materials, convenient designs, and smart technologies to meet consumer needs, reduce waste, and ensure product safety.

Digital printing and supply chain transparency are also gaining traction.

The transaction advisers in the listing are Synesis Capital as the lead transaction advisor, and MWC Legal as the legal advisors.