Ken Enterprises IPO ends today; check subscription data, GMP, listing date

Ken Enterprises IPO Day 3: Ken Enterprises initial public offering (IPO) is set to close today, Friday, February 7, 2025. The public offering, which opened on Wednesday, February 5, 2025, has seen a decent response from investors. Data available on the National Stock Exchange (NSE) showed that the public offering has been oversubscribed by 3.71 times by 11:44 AM on Friday, February 7, 2025.

 

Ken Enterprises IPO consists of a fresh issue of 6,199,200 equity shares and an offer for sale of 2,700,000 equity shares. The company has fixed the price for its IPO at Rs 94 per share, with a lot size of 1,200 shares.

 

Retail investors are required to invest a minimum of Rs 1,12,800 for one lot (1,200 shares), while high-net-worth individuals (HNIs) must bid for at least two lots (2,400 shares), amounting to Rs 2,25,600.

 

Meanwhile, Ken Enterprises shares were commanding a decent premium in the grey market. Sources tracking unofficial market activities revealed that the unlisted shares are trading at approximately Rs 99 apiece. This represents a grey market premium (GMP) of Rs 5, or 5.32 per cent, over the upper price band.

 

Following the closure of the subscription window, the basis of allotment of Ken Enterprises IPO shares is expected to be finalised on Monday, February 10, 2025, with successful bidders receiving shares in their demat accounts by Tuesday, February 11, 2025. Ken Enterprises shares are slated to list on the NSE SME platform tentatively on Wednesday, February 12, 2025.

 

Skyline Financial Services serves as the registrar for the IPO, while Corporate Makers Capital is the book-running lead manager.

 

According to its Red Herring Prospectus (RHP), Ken Enterprises will not receive any proceeds from the offer for sale. However, the company intends to allocate the IPO proceeds for unidentified acquisitions in India and abroad, the purchase of new machinery, capital expenditure for the renovation of both manufacturing facilities, and to meet working capital requirements.

 

Ken Enterprises, incorporated in 1998, manufactures textiles, including fabrics for apparel, industrial, and home furnishings. The company uses third-party manufacturing services to enhance capacity. Its business model focuses on quality and customer satisfaction. Ken Enterprises has two manufacturing units in Maharashtra and employs 228 people. The company offers a diverse product portfolio, including greige, dyed, printed, and RFD/PFD fabrics.