Ken Enterprises IPO Opens: Key Details

Ken Enterprises IPO Opens for Subscription

Ken Enterprises Ltd., a company that makes fabrics for clothes, industrial use, and home furnishings, launched its initial public offering (IPO) on Wednesday. The company aims to raise Rs 83.65 crore from the primary [[market]]. The IPO combines fresh shares worth Rs 58.27 crore and an offer-for-sale of shares worth Rs 25.38 crore.

IPO Details for Investors

The IPO is open for bidding from February 5 to February 7. Allotment of shares is expected on February 10, with shares credited to investors’ accounts on February 11. Refunds, if any, will also be processed on the same day. Listing on the NSE SME is expected on February 12. The price band for the IPO is set at Rs 94 per share. Investors need to buy a minimum of 1,200 shares in one lot, which amounts to a minimum investment of Rs 1,12,800.

Grey Market Premium

As of February 5 morning, the grey market premium (GMP) for Ken Enterprises IPO was Rs 36 per share, indicating a potential listing gain of 38.30%. This suggests the shares could debut at Rs 130. Keep in mind that GMP is based on market speculation and is not an official price.

About Ken Enterprises Ltd.

Ken Enterprises focuses on producing high-quality fabrics for various applications. They provide both greige and finished fabrics and prioritize customer satisfaction. The company’s business model emphasizes consistent quality and meeting customer needs.

Use of IPO Proceeds

The money raised from the IPO will be used for acquisitions in India and abroad, buying new machinery, renovating facilities, and general corporate purposes.

Financial Performance

Ken Enterprises Ltd. reported a revenue of Rs 332.85 crore and a net profit of Rs 9.53 crore up to November 30, 2024. In the full financial year 2024, the company’s revenue was Rs 409.13 crore, up from Rs 375.23 crore in the previous year. Net profit for FY24 stood at Rs 8.93 crore, a significant increase from Rs 3.95 crore in FY23.

Disclaimer:

Investing in IPOs involves market risks. Consult with financial advisors before making any investment decisions.

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