Kanani industries limited (KIL) was initially incorporated on 22nd March 1983 as a public limited company under the name of Shivlaxmi Mercantile Company Limited (later changed to IMP Finance Limited).

KIL was executed a strategic acquisition of by Mr.Premjibhai D. Kanani and Mr. Vinubhai L. Kanani on 9th April 2007 vide change in management and control in shareholding of the company under the name IMP Finance Limited, which was subsequently changed to Kanani Industries Limited on October 19th, 2007 vide Certificate of Change of Name issued by the Registrar of Companies Maharashtra Mumbai.

Further the company had executed a strategic acquisition of its own land at SEZ, Sachin, Surat (Gujarat), and build up its own four story factory, Now Company is engaged in Diamonds Studded Jewellery Business having sophisticated hyper technical unit.

In 2010, the company secured order worth US$ 4.33 million from European community Country. The company also bagged Rs. 21.61 Cr. Jewellery Order from Hong Kong.

In 2012, the company bagged purchase order worth US$ 2.80 Million from UB Interntional Ltd. The company also secured Rs 15 crore from UB International

In 2013 , the company issued Bonus Shares in the ratio of 1:10.