Packaging firm SKL to list on Nairobi Securities Exchange on July 24

Packaging materials firm Shri Krishana Overseas Limited (SKL) will list on the Nairobi Securities Exchange Plc on July 24, 2025.

SKL will sell 50.5 million ordinary shares at an offer price of Sh5.90 on the NSE’s Small and Medium Enterprises (SME) Market Segment following clearance by the NSE and the Capital Markets Authority. 

On listing, 8.7 million ordinary shares will be made available to the public.

The move will break the listing drought that has hit NSE in the past five years.

SKL Managing Director and Co-founder Sonvir Singh said the listing will open doors for future capital-raising initiatives and provide investors with more opportunities to participate in the promising packaging sector.

“Listing on the NSE's SME Market Segment is a strategic decision that will provide SKL with access to the capital markets, enabling us to raise funds and accelerate our future expansion plans while presenting opportunities for investors seeking to participate in Kenya’s packaging sector,” said Sonvir

According to the firm, the promising packaging solutions sector is sustainably growing, supported by diverse demand from the manufacturing, floriculture, and agriculture sectors.

Kenya’s packaging industry has been rising and was worth approximately $585 million (75.6Billion) as of the end of 2023.

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.

Transaction advisors added that SKL’s listing will also be a boost for the manufacturer's long-term sustainability.

“This listing will play a key role in further enhancing corporate governance and stakeholder trust, elements that will further strengthen SKL long-term sustainability,” said Kumar Sheth of IM Consulting services Ltd, a corporate finance company that aided the listing journey.

NSE Chief Executive Officer Frank Mwiti said the listing would provide the company with unparalleled access to a broad range of both domestic and international investors, creating opportunities for efficient capital raising to support its expansion strategy, innovation pipeline, and long-term value creation.

“The increased liquidity will also offer flexibility for existing shareholders and attract a new class of investors interested in supporting sustainable, growth-oriented businesses,” said Mwiti.

“Equally, through accessing public markets, SKL Limited will benefit from enhanced visibility, improved corporate governance, and increased brand credibility,key to supporting its net phase of growth.”

He expressed confidence that SKL’s entry into the bourse would inspire other SMEs to consider the capital markets as a viable path to scaling and institutionalising their operations.

Mwiti noted that such listings will not only deepen and diversify the local capital markets but also expand investor choices across sectors and company sizes.

Synesis Capital are the lead transaction advisor, MWC Legal,  the legal advisors, and Afrek and Associates the reporting accountants.

Image Registrars Limited served both as the company secretary’s firm and the registrar, while Prakash Associates acted as auditors.