Nairobi-based Shri Krishana Overseas Ltd. (SKL) will make history as the first packaging solutions provider to list on the Nairobi Securities Exchange (NSE).
The company will debut on the NSE’s SME Market Segment on July 24, 2025, offering 50.5 million ordinary shares by introduction at KSh 5.90 per share. Of these, 8.7 million shares will be available to the public, valuing the listing at approximately KSh 298 million.
Diverse Operations and Market Footprint
SKL operates two main divisions: packaging and footwear. Its packaging portfolio includes corrugated boxes, tray packaging, labels, tapes, and custom containers.
Founded in 2009 by Dr. Sonvir Singh and Nirmal Chaudhary, SKL has evolved from a small startup into a leading player in Kenya’s packaging industry.
Operating from Imara Daima with over 150 employees, SKL runs 48 advanced carton manufacturing machines. The company serves diverse sectors such as manufacturing, floriculture, agriculture, and FMCG, offering a broad range of products including corrugated boxes, mono-boxes, labels, tapes, and printing services.
Strategic Leap Into Capital Markets
Dr. Sonvir Singh, Managing Director and Co-founder of SKL, emphasised the significance of the upcoming listing:
“Listing on the NSE’s SME Market Segment is a strategic decision that will provide SKL with access to capital markets. It enables us to raise funds and accelerate our future expansion plans, while also presenting opportunities for investors seeking to participate in Kenya’s packaging sector.”
He highlighted the sustainable growth of the packaging industry, driven by rising demand from manufacturing and floriculture.
To meet this demand, SKL is nearing completion of a state-of-the-art plant in Kajiado County, currently 70% complete as of February 2025.
This facility will increase production capacity tenfold—from 2,400 tonnes to 24,000 tonnes annually—supported by financing from SBM Bank.
Growing Packaging Market and Innovation Trends
Kenya’s packaging market was valued at KSh 65.8 billion (US$585 million) in 2021 and continues to evolve rapidly. The sector is increasingly influenced by eco-conscious consumers and businesses, with trends moving toward digital printing, smart labelling, and environmentally friendly materials that reduce waste and improve supply chain transparency.
Enhancing Governance and Sustainability
Kumar Sheth, corporate finance expert at IM Consulting Services Ltd and advisor to SKL, noted:
“This listing will enhance corporate governance and stakeholder trust—key pillars for long-term sustainability, particularly for family-run businesses entering public markets.”
SKL’s growth story is one of resilience and innovation. After Dr. Singh arrived in Kenya in 2006, he partnered with Chaudhary in 2013 to formally launch SKL.
The company recorded a 4,000% turnover growth in its first year and continued to expand through the COVID-19 pandemic, serving clients such as East Africa Growers and Dinlas Pharma Ltd.
NSE Endorsement and Market Impact
Frank Mwiti, CEO of the Nairobi Securities Exchange, praised SKL’s move:
“SKL’s upcoming listing is a testament to its strong fundamentals and growth potential. It will offer the company access to both domestic and international investors, boost liquidity, and enhance brand visibility. This aligns with the NSE’s 2025–2029 Strategic Plan to help high-potential SMEs raise capital, scale, and institutionalise.”
He added that SKL’s success could inspire other SMEs to consider public listings as a growth pathway.
Footwear Division and Sustainability Focus
SKL’s footwear arm, branded “SKL Shoes,” offers affordable and durable products for local and regional markets. The company’s mission centres on affordability, innovation, and environmental sustainability.
Advisory Consortium
SSKL’s listing on the Nairobi Securities Exchange was facilitated by a consortium of expert advisors, ensuring a seamless and compliant process.
Synesis Capital served as the lead transaction advisor, steering the strategic and financial framework. MWC Legal provided legal counsel, navigating regulatory complexities.
Afrek & Associates acted as reporting accountants, ensuring financial accuracy, while Prakash Associates conducted the audit. Image Registrars Ltd. managed company secretarial and registrar duties, and 8 Ball Media handled public relations to amplify the listing’s visibility.
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