Kenvi Jewels Limited, a listed entity on BSE Limited under the scrip code 540953, has officially submitted its Initial Disclosure pursuant to the applicable SEBI circulars regarding the categorization of companies as Large Corporates for the purpose of fundraising through debt securities.

In compliance with SEBI Circular No. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, as amended, and SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, Kenvi Jewels Limited has made it clear that it does not qualify as a Large Corporate as per the criteria laid down under the regulatory framework.

The disclosure was addressed to the General Manager-Listing at the Corporate Relation Department of BSE Limited, confirming the company's standing in respect to the fundraising obligations related to issuance of debt securities by large entities.

Key Details of the Disclosure:

• Name of the Company: Kenvi Jewels Limited

• Corporate Identification Number (CIN): L52390GJ2013PLC075720

• Outstanding Borrowings as of March 31, 2025: Not specified, but indicative of figures below the threshold for classification as a large corporate.

• Highest Credit Rating during FY25: Not Applicable, indicating either no credit rating obtained or no major borrowings during the period.

• Name of the Stock Exchange for Shortfall Compliance: BSE Limited

The declaration has been duly signed by Mr. Chiragkumar C. Valani, the Managing Director of Kenvi Jewels Limited, bearing DIN: 06605257, confirming the authenticity of the disclosure. An Annexure A has been attached with the filing to support the confirmation and to ensure full compliance with SEBI mandates.

Context of SEBI Regulation:

The Securities and Exchange Board of India (SEBI) introduced these specific disclosure obligations to encourage large corporates to raise a significant portion of their incremental borrowings through debt securities. This move was intended to develop a deeper bond market in India.

Under this framework, companies that meet the criteria of having an outstanding borrowing of ₹100 crore or more and a credit rating of "AA and above" are classified as Large Corporates. These companies are required to ensure that at least 25% of their incremental borrowings come through the issuance of debt securities.

However, Kenvi Jewels Limited, as disclosed, does not fall into this category for the financial year ended March 31, 2025. This declaration protects the company from additional regulatory obligations related to debt fundraising and signifies a relatively moderate borrowing status.

Implications for Investors and Stakeholders:

For investors and market observers, this disclosure is a positive signal indicating that Kenvi Jewels Limited maintains lower debt levels, thereby suggesting a stronger balance sheet and lower financial risk associated with leveraged activities. It also shows the company’s proactive stance towards regulatory transparency and corporate governance, critical factors for investor confidence.

Moreover, the absence of a significant debt burden may provide the company with greater operational flexibility and better maneuverability in strategic decision-making. It could also imply that the company is focusing more on organic growth and self-funded expansions rather than relying heavily on borrowings.

Conclusion:

With this compliance disclosure, Kenvi Jewels Limited reiterates its commitment to following SEBI regulations in letter and spirit. The company's approach towards maintaining transparency with the exchange and its stakeholders reflects its long-term vision of sustainable growth and financial prudence.

Going forward, it will be important to watch how Kenvi Jewels Limited continues to evolve its financing strategy in line with its expansion plans and market opportunities. The absence of large-scale debt financing opens possibilities for the company to explore equity-based growth options or internal accrual-based expansion strategies.

Stakeholders, investors, and analysts will continue to monitor further disclosures, particularly the company’s financial results and future fundraising activities, to gain a complete picture of its operational and financial health.

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