The packaging sector in East Africa continues to demonstrate significant growth and momentum, with the latest milestone coming from Shri Krishna Overseas Limited (SKL), a packaging solutions company focused on serving horticultural exports and the fast-moving consumer goods (FMCG) sector.
On July 23, 2025, SKL became the first packaging company to be listed on the Nairobi Securities Exchange’s (NSE) Small and Medium Enterprises (SME) Market Segment. This landmark move makes SKL one of only three firms to list on the NSE since 2020, signaling renewed confidence in the capital markets and the packaging industry’s vital role in East Africa’s manufacturing and export ecosystem.
The listing comes months after SKL first announced the intention to go public during a pre-listing event held on February 1, 2025, at the Mövenpick Hotel in Westlands, Nairobi. The event, attended by over 290 corporate leaders, government officials, and industry stakeholders, highlighted the company's remarkable journey from a modest trading startup to a significant manufacturer in the packaging space.
In its market debut, SKL listed 50.5 million ordinary shares at an offer price of Sh5.90 per share, with 8.7 million shares made immediately available for trading. The listing values the company at Sh297.95 million, positioning it among a growing but still select group of family-owned businesses entering the public market.
SKL Finance Director and Co-founder Nirmal Devi emphasized the strategic importance of the listing for future growth.
“Listing on the NSE will now provide us with a platform to fuel our ambitious growth plans, enhance our visibility among investors, and continue our mission to deliver innovative solutions that meet the growing demand for sustainable packaging,” said Devi.
Managing Director and fellow founder Sonvir Singh added that the move is also about long-term sustainability and opening up opportunities for more investors.
“By listing, we are giving SKL a firmer footing so that it can last beyond the two founders. The listing requirements will give it the structures necessary to support the company’s long-term sustainability,” he said.
“Today’s listing also opens the door for more Kenyan and international investors to share in our success.”
Beyond the listing, SKL has also revealed its plans to significantly boost production capacity with a new facility currently under development in Isinya, Kajiado County. Scheduled for completion by the end of 2025, the new plant is expected to increase annual capacity from 3,000 tonnes to 22,000 tonnes — a move poised to drive revenue growth and meet rising demand from the horticulture and FMCG sectors.
“Our new facility is meant to meet the growing and sustained demand for packaging materials from horticultural exports including avocados, herbs, mangoes and vegetables,” noted Singh.
“We also see increased demand in the fast-moving consumer goods sector as more companies establish manufacturing bases in Kenya and East Africa.”
Established in 2009 as a food commodities trading company, SKL transitioned into packaging manufacturing, riding on the demand for locally produced, sustainable packaging solutions. Its evolution mirrors the sector’s broader trajectory in the region — one of diversification, formalization, and rapid industrial expansion.
At Propak East Africa, the region’s leading trade show for packaging, plastics, printing, and processing, companies like SKL represent the kind of entrepreneurial spirit and industrial growth that continues to redefine East Africa’s manufacturing narrative.
As SKL breaks new ground — both figuratively with its NSE listing and literally with its new plant — it reinforces the packaging sector’s vital role in supporting trade, exports, and industrial growth in the region. The company’s bold steps serve as both an inspiration and a signal that the East African packaging sector is primed for even greater strides ahead.
Sources:
The Star Kenya – NSE set for record activity as SKL joins in trio of July listings
KBC – Shri Krishna Overseas Limited takes monumental step towards NSE listing
The Standard – Packaging firm Shri Krishna Overseas eyes NSE listing
