Ken Enterprises Ltd, a textile manufacturing and marketing company, has completed its IPO subscription process. Investors are now eagerly awaiting the IPO allotment date, expected to be on February 10, 2024. The IPO raised ₹83.65 crore and the listing date is anticipated for February 12, 2024, on the NSE Emerge platform.
The much-anticipated initial public offering (IPO) of Ken Enterprises Ltd, a textile manufacturing and marketing company, is nearing its allotment date. The IPO, which opened for subscription from February 5 to 7, 2024, has garnered significant interest, with the company raising ₹83.65 crore through a fixed-price issue. Investors are now eagerly awaiting the allotment status.
Ken Enterprises Ltd, which specializes in the manufacturing and marketing of textiles, has made a debut on the SME (small and medium enterprises) sector of the National Stock Exchange (NSE). The company has raised the funds through a combination of fresh issue of 61.99 lakh equity shares worth ₹58.27 crore and an offer for sale (OFS) of 27 lakh shares totaling ₹25.38 crore. The IPO price was fixed at ₹94 per share.
IPO Allotment Process and How to Check Status
As the IPO allotment date is expected to be today, February 10, 2024, investors can check their allotment status easily. The shares will be credited to the eligible allottees’ demat accounts, and refunds will be processed for unsuccessful bidders on the same day.
Investors can check the Ken Enterprises IPO allotment status online via two main platforms:
- NSE Website
- Official Registrar Portal (Skyline Financial Services Pvt Ltd)
To check the allotment status through the IPO registrar, follow these steps:
- Visit the Skyline Financial Services website: Skyline IPO Status
- Select “Ken Enterprises Limited” from the dropdown menu
- Enter either DP ID, Application Number, or PAN
- Click on “Search” to view your allotment status
Grey Market Premium (GMP) and Listing Expectations
Ken Enterprises shares have been trading at a muted Grey Market Premium (GMP) of ₹5 per share, indicating a slight premium over the issue price of ₹94. According to market observers, the listing price of Ken Enterprises shares is expected to be around ₹99, reflecting a 5.32% premium compared to the IPO price.
IPO Subscription Overview
Ken Enterprises IPO was subscribed 4.36 times in total, with the retail category oversubscribed by 6.86 times and the Non-Institutional Investors (NII) category subscribed 1.75 times.
Corporate Makers Capital Ltd. is the book-running lead manager for the IPO, and Skyline Financial Services Pvt Ltd is the registrar for the issue.
Investors are looking forward to the listing date, which is expected to be February 12, 2024, when the company’s shares will debut on the NSE Emerge platform.
