Ken Enterprises IPO made a weak debut on February 12, listing at ₹85 on NSE SME, a 9.57% discount to its issue price of ₹94. The ₹83.65 crore IPO was open for subscription from February 5 to 7, with a fixed price of ₹94 per share. As of 11:30 AM on February 12, the stock is trading at ₹80.75, reflecting a 14.09% decline.
Ken Enterprises IPO was subscribed 4.36x overall, with Market Makers at 1x, Non-Institutional Buyers at 1.75x, and Retail Investors at 6.86x. A total of 3.68 crore shares were bid for, amounting to ₹346.49 crore across 25,847 applications.
Ken Enterprises IPO had a GMP of ₹5, suggesting an expected listing at ₹99. However, it debuted at ₹85, a 9.57% discount to the issue price of ₹94, marking a negative listing against GMP expectations.
Overview of Contents
Details About Ken Enterprises IPO
Ken Enterprises IPO opens on February 5 and closes on February 7, 2025, aiming to raise ₹83.65 Cr at ₹94 per share. The issue includes a fresh issue of ₹58.27 Cr and an offer for sale of ₹25.38 Cr. Retail investors need a minimum investment of ₹1,12,800 (1,200 shares).
The IPO is set to list on NSE SME on February 12, 2025. With strong revenue and profit growth, the IPO offers a promising investment opportunity, allocating 50% to retail and 50% to HNIs, with no QIB reservation.
Ken Enterprises Funds Deployment
- Unspecified acquisitions (India & international)
- New equipment acquisition
- Refurbishment of production facilities
- Working capital needs
Ken Enterprises Financial Performance
As of November 30, 2024, Ken Enterprises reported total assets of ₹266.3 Cr, with revenue of ₹332.85 Cr and a net profit of ₹9.53 Cr. The company’s net worth stood at ₹54.38 Cr, while reserves & surplus were ₹36.01 Cr. Total borrowings decreased to ₹43.14 Cr from ₹47.84 Cr in March 2024, reflecting improved financial stability.
About Ken Enterprises IPO
Ken Enterprises Limited, a textile manufacturer since 1998, specializes in greige fabrics for apparel, industrial, and home furnishings. Operating on an asset-light model in Ichalkaranji, Maharashtra, it offers diverse products, including organic textiles and shoe canvases. With two units spanning 50,000 sq. ft. and 228 employees, the company stands out for its strong leadership, client relationships, and fast delivery. Its solid financials and commitment to quality make it a promising player in the textile industry.