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Ken Enterprises IPO Live: Check Day 1 Subscription Status, GMP And Other Details

Ken Enterprises IPO GMP (grey market premium) was Rs 30 apiece as of 4:58 p.m. on Feb. 5, according to InvestorGain.

<div class="paragraphs"><p>(Photo source: Representative/Unsplash)</p></div>
(Photo source: Representative/Unsplash)
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Ken Enterprises Ltd. launched its public offer on Wednesday to raise Rs 83.65 crore from the primary markets. The company is engaged in the business of manufacturing fabrics for various purposes, including apparel, industrial, technical and home furnishings. As the Ken Enterprises IPO opens for subscription, here is what interested investors should know about the offer, price band, GMP 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.

The NSE SME IPO will remain open for bidding from Feb. 5 to Feb. 7.

Share allotment for the IPO is likely to be done on Monday, Feb. 10. Successful bidders will get 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 on Wednesday, Feb. 12.

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.

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.

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Ken Enterprises IPO Subscription Status: Day 1

The Ken Enterprises IPO has been subscribed 1.95 times as of 5:00 p.m., as per the market tracking site Chittorgarh.

  • Non-Institutional Investors: 0.76 times

  • Retail Investors: 3.14 times

*The subscription status will be updated at regular intervals

Ken Enterprises IPO GMP Today

Ken Enterprises IPO GMP (grey market premium) was Rs 30 apiece as of 4:58 p.m. on Feb. 5, according to InvestorGain. This projects a listing gain of 31.91% over the issue price, with the debut price of each share being Rs 124.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Ken Enterprises Ltd. Business And Financials

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

Use Of Proceeds

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.

Financials

Ken Enterprises Ltd. reported a revenue of Rs 332.85 crore and a net profit of Rs 9.53 crore for the period up to Nov. 30, 2024. In FY24, the company clocked a revenue of Rs 409.13 up from Rs 375.23 crore in the previous year. Net Profit stood at Rs 8.93 crore in FY24 in comparison to Rs 3.95 crore in FY23.

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Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

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