Shri Krishana Overseas Limited (SKL), a leading packaging solutions provider, has made a groundbreaking announcement that it intends to list on the Nairobi Securities Exchange (NSE) by introduction in July 2024. This move marks a significant milestone for the company and sets a precedent for family-owned businesses transitioning into publicly listed entities in Kenya.
The announcement was made at a high-profile event at the Movenpick Hotel in Nairobi, which was attended by over 290 corporate leaders, government officials, and key industry stakeholders. The event celebrated SKL’s impressive growth journey and its vision for the future, setting the stage for the company’s expansion into the public sphere.
Dr. Sonvir Singh, SKL’s Managing Director, highlighted the company’s commitment to innovation, sustainability, and economic growth in his address. He explained, “We started as a small enterprise, but through strategic investment, integrity, and a strong work ethic, we have grown exponentially. Listing on the NSE is the next step in securing SKL’s long-term future and creating new opportunities for growth.”
Nirmal Chaudhary, the Financial Director of SKL, added that the decision to go public was about more than just raising capital. He stressed that the listing would bring greater transparency, governance, and access to capital, ensuring that SKL remains competitive and continues to serve the market with high-quality packaging solutions.
Frank Mwiti, CEO of the NSE, expressed his enthusiasm for SKL’s listing, noting the crucial role the stock exchange plays in financing businesses. He said, “There’s a reason why some of Kenya’s biggest companies are listed on the NSE. Our market capitalisation as of Friday was KES 1.9 trillion, and bonds traded close to KES 1.2 trillion. The opportunity and liquidity are there for businesses willing to embrace compliance, governance, and transparency.”
Laikipia Governor James Irungu spoke on the broader economic impact, emphasizing that SKL’s success aligns with Kenya’s vision for sustainable growth. “This is about strengthening our economy and creating new avenues for innovation and industrial leadership,” he said.
If approved by the Capital Markets Authority (CMA) and the NSE, SKL will become the first packaging solutions company to list on the exchange and the first new listing since 2020. The company plans to list under the NSE’s Small and Medium Enterprises (SME) Market Segment, a move that will further foster innovation and industrial leadership in Kenya’s business sector.
SKL’s decision to list marks not just a milestone for the company but a significant moment in Kenya’s business history, showing the growing importance of transparency, innovation, and governance in the country’s corporate landscape.
