Ken Enterprises IPO Grey Market Premium Today: The initial public offering of Ken Enterprises Ltd., which will conclude its subscription today (on Feb. 7), was subscribed 3.75 times on Thursday. The demand for the SME issue was led by retail investors who bid for 2,60,82,000 shares against the 42,27,000 offered to them.
As the Ken Enterprises IPO enters its final day, here's what you need to know about the offer, price band, GMP, subscription status, allotment and listing date and other details.
Ken Enterprises IPO: All You Need To Know
The Ken Enterprises IPO combines a fresh issue of Rs 58.27 crore having 61.99 lakh shares and an offer-for-sale component worth Rs 25.38 crore comprising 27 lakh shares. Ken Enterprises IPO price band has been set at Rs 94 at a face value of Rs 10 per share. A single lot of the IPO comprises 1,200 shares, taking the minimum investment amount for retail investors to Rs 1,12,800.
As per the company's RHP document, of the 88,99,201 shares offered: 42,27,000 (47.5%) is reserved for non-institutional investors and 42,27,000 (47.5%) is reserved for retail investors.
Skyline Financial Services Pvt. is the registrar for the Ken Enterprises IPO, while Corporate Makers Capital Ltd. has been chosen as its book-running lead manager. The market maker for the issue is Giriraj Stock Broking.
Ken Enterprises IPO GMP Today
The latest grey market premium (GMP) for Ken Enterprises IPO is Rs 5, recorded at 2:32 p.m. on Feb. 7. Considering today's GMP and issue price, shares of Ken Enterprises are expected to list on NSE SME at Rs 99, up 5.32% over IPO price - as per InvestorGain.com.
The unlisted shares of Ken Enterprises were trading as high as Rs 119 when the issue opened for subscription before dropping to Rs 99 as bidding on day 3 began. Going by the GMP trends, investors can look forward to a strong listing when the shares hit the market next week.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Ken Enterprises IPO Subscription Status: Day 3
The Ken Enterprises IPO has been subscribed 4.34 times as of 4:24 p.m. on Friday, as per the market tracking site Chittorgarh.
Non-Institutional Investors: 1.74 times
Retail Investors: 6.82 times
*The subscription status will be updated at regular intervals
Ken Enterprises IPO: Important Dates
The NSE SME IPO will remain open for bidding till Feb. 7. The allotment for the Ken Enterprises IPO is likely to be finalised on Feb. 10. Successful bidders will get the credit of shares to their demat accounts on Feb. 11, and refunds will be issued to the others on the same day.
Shares of Ken Enterprises are likely to be listed on NSE SME platform Emerge on Feb. 12.
About Ken Enterprises
Textile maker Ken Enterprises Ltd. manufactures fabric for apparel, industrial, technical, shirtings, and home furnishings. The company’s business model is focused on quality and customer satisfaction, supplying regular and sustainable greige and finished fabrics.
The company will use portions of the IPO proceeds for unidentified domestic and foreign acquisition, purchase of new machines, capital expenditure for renovations and general corporate purposes.
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