SKL will list 50.5M shares on the NSE SME Segment, offering 8.7M to the public at KSh 5.90, marking a first for Kenya’s packaging sector.
Shri Krishana Overseas Ltd (SKL) is set to make history as the first packaging company to list on the Nairobi Securities Exchange (NSE). The company will go public on July 24, 2025, under the SME Market Segment.
SKL plans to list 50.5 million ordinary shares by introduction, with 8.7 million shares available to the public at an offer price of KSh 5.90. The listing will value the firm at approximately KSh 298 million.
📄 Read the official announcement
🏭 A Rising Star in Kenya’s Packaging Sector
Founded in 2009 by Dr. Sonvir Singh and Nirmal Chaudhary, SKL started as a small operation in Imara Daima, Nairobi. Today, it employs over 150 staff and runs 48 modern carton manufacturing machines.
The company serves clients across FMCG, agriculture, floriculture, and industrial sectors through two divisions:
- SKL Packaging: Produces boxes, labels, tapes, and tray packaging.
- SKL Shoes: Offers durable, affordable footwear for local and regional markets.
🗣️ “Listing on the NSE is a strategic leap. It opens access to capital and accelerates our growth,” said Dr. Singh, SKL Managing Director.
🛠️ Expansion Backed by SBM Bank
To meet growing demand, SKL is building a new packaging plant in Kajiado County. As of February 2025, the project was 70% complete.
Once finished, it will boost annual production capacity from 2,400 tonnes to 24,000 tonnes—a tenfold increase. The expansion is supported by financing from SBM Bank.
🌍 Why SKL Stands Out
SKL supplies paper-based and biodegradable packaging, giving it an edge as Kenya shifts toward sustainability and import substitution.
With packaging demand expected to grow by 18% annually, the company is well-positioned to serve both multinational and regional clients.
📊 Why This Listing Matters
SKL’s move is being watched closely as a test case for family-run businesses entering public capital markets.
It reflects a wider investor appetite for sustainable, local manufacturing ventures.
The listing is expected to boost liquidity, improve SME visibility, and enhance capital mobilisation.
🧾 Focus on Governance and Trust
Kumar Sheth of IM Consulting Services Ltd, who advised SKL, said the listing would improve transparency:
“This enhances corporate governance and builds trust—especially vital for family-owned firms going public.”
Since launching formally in 2013, SKL recorded 4,000% turnover growth in its first year and remained resilient through the COVID-19 pandemic.
🗣️ NSE Welcomes the Move
Frank Mwiti, CEO of the NSE, praised SKL’s leadership:
“SKL’s listing reflects strong fundamentals. It aligns with our 2025–2029 strategy to support SME growth and capital access.”
🤝 Listing Advisors
The listing was managed by a seasoned team of advisors:
- Synesis Capital – Lead Transaction Advisor
- MWC Legal – Legal Advisor
- Afrek & Associates – Reporting Accountants
- Image Registrars Ltd – Company Secretary
- Prakash Associates – Auditors
- 8 Ball Media – PR Partner
✅ Final Word
SKL’s listing on July 24 marks a major milestone for Kenya’s manufacturing sector.
It sends a strong signal that SMEs can access capital markets, scale up, and compete regionally.
The company’s journey offers a blueprint for green growth, public investment, and industrial resilience.
