Ken Enterprises Limited, a textile manufacturer from Ichalkaranji, Maharashtra, has launched its IPO to raise ₹83.65 crore. The IPO, which opened on February 5, 2025, has been met with strong subscription, especially in the retail segment. The company aims to use the proceeds to expand operations and fulfill capital expenditure needs.
Ken Enterprises Limited, a textile manufacturing company based in Ichalkaranji, Maharashtra, has launched its initial public offering (IPO) aiming to raise ₹83.65 crore. The IPO, which opened on February 5, 2025, will close on February 7, 2025, with shares priced at ₹94 each.
About Ken Enterprises Limited
Founded in 1998, Ken Enterprises is a key player in the textile manufacturing sector. The company specializes in producing fabrics for various applications, such as apparel, industrial, technical, shirtings, and home furnishings. Ken Enterprises primarily manufactures greige fabrics and collaborates with third-party manufacturers for job-work services, mainly based in and around Ichalkaranji, Maharashtra – a renowned fabric weaving hub. The company’s product offerings include greige, dyed, printed, and RFD/PFD fabrics, catering to both regular and sustainable fabric needs.
Ken Enterprises IPO Subscription Status
As of February 6, 2025, the IPO has been subscribed 2.01 times by 11 am on the second day. The retail portion of the IPO has received a strong response, with subscriptions 3.25 times oversubscribed. However, the Non-Institutional Investors (NII) category has been subscribed 0.77 times.
Ken Enterprises IPO Grey Market Premium (GMP)
The grey market premium (GMP) for Ken Enterprises IPO stands at ₹18, suggesting an estimated listing price of ₹112, which is approximately 20% higher than the IPO price of ₹94.
IPO Structure
The IPO consists of a combination of a fresh issue of 61.99 lakh shares, aggregating to ₹58.27 crore, and an offer for sale of 27 lakh shares, aggregating to ₹25.38 crore. The minimum lot size for an application is 1,200 shares, and retail investors must invest a minimum of ₹1.12 lakh to participate in the offering. The funds raised from the fresh issue will be utilized for acquisitions, purchasing new machinery, capital expenditure for renovation of manufacturing facilities, and meeting working capital requirements.
Ken Enterprises will not receive proceeds from the Offer for Sale portion.
IPO Timeline and Other Details
- IPO Opening Date: February 5, 2025
- IPO Closing Date: February 7, 2025
- Allotment Date: February 10, 2025
- Listing Date: February 12, 2025 (on NSE SME)
- Lead Manager: Corporate Makers Capital Ltd.
- Registrar: Skyline Financial Services Private Ltd.
- Market Maker: Giriraj Stock Broking Private Limited
Investors will eagerly watch the upcoming developments as Ken Enterprises aims to strengthen its position in the textile sector with this strategic IPO.
