In a move signalling growing confidence in Kenya’s capital markets, Shri Krishana Overseas Ltd (SKL) has officially listed on the Nairobi Securities Exchange (NSE), marking a notable milestone for both the company and the bourse. The listing, which took place earlier this week, is seen as a step forward for investor diversification, and a reminder of the NSE’s central role in Kenya’s economic development.
Shri Krishana Overseas will trade under the ticker $SKL, with its shares debuting at Ksh 5.90 per share. The company plans to list 50.5 million ordinary shares, with 8.7 million shares available to the public. “Listing on the NSE’s SME Market Segment is a pivotal step in our expansion journey,” said Dr. Sonvir Singh, SKL Managing Director and Co-founder. “It provides us with access to capital markets, enabling us to raise funds and accelerate our future expansion plans, while also presenting opportunities for investors seeking to participate in Kenya’s dynamic packaging sector.”
Shri Krishana Group is a family-run business known for its roots in wholesale and retail distribution, particularly in food processing and fast-moving consumer goods (FMCGs). With a presence in East Africa since the 1980s, the company has grown from a small family outlet to a regional enterprise, focusing on manufacturing, logistics, and supply chain solutions. Their flagship product lines include snacks, cooking oil, and household staples — all staples in the Kenyan market.
By listing on the NSE, Shri Krishana aims to raise capital to expand operations, modernize its supply chains, and enter new markets across the region. “This listing allows us to open a new chapter — one of transparency, public ownership, and regional expansion,” said a company spokesperson during the bell-ringing ceremony.
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The NSE has undergone a mixed season over the past few years. While it remains the largest capital market in East and Central Africa, the exchange has struggled with low trading volumes, few new listings, and investor caution driven by macroeconomic volatility.
Shri Krishana’s entry is the first significant listing since the cross-listing of Airtel Uganda in 2022 and comes at a time when several companies have either delisted or expressed concerns about regulatory burdens. Analysts believe this new listing could restore some investor confidence and encourage other mid-sized companies to consider the bourse as a viable path to raise capital.
The NSE has historically seen landmark listings that shaped Kenya’s financial landscape — from blue-chip companies like Safaricom (2008) to public-sector privatisations such as Kenya Electricity Generating Company (KenGen) and Kenya Reinsurance. However, over the past decade, enthusiasm has waned.
The number of companies listed on the Main Investment Market Segment has stagnated, while the Growth Enterprise Market Segment (GEMS), which was created to attract SMEs like Shri Krishana, has only seen a handful of entrants.
Unlike many past listings, Shri Krishana’s journey is more organic — not a state-driven privatisation or a multinational listing, but a home-grown, family business transitioning into the public sphere. This grassroots approach could serve as a blueprint for other local firms.
The Road Ahead
With its entry into the NSE, Shri Krishana joins a small but growing club of private companies choosing to open their books to the public. Investors and market watchers will be keen to see how the stock performs, especially in a market that’s been seeking new energy.
Kenya’s packaging industry has been rising and was worth approximately US$ 585 million as of the end of 2021. To meet this demand, SKL is finalising the construction of a state-of-the-art plant in Kajiado County, which is expected to increase its production capacity tenfold, from 2,400 tonnes to 24,000 tonnes annually.
For everyday investors, it represents not just a new opportunity, but also a reminder of the potential within Kenya’s private sector — and the importance of backing businesses that believe in long-term local growth.
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