Ken Enterprises IPO allotment expected on February 10: Steps to check status on NSE, Skyline Financial Services

The initial public offering of fabrics manufacturer Ken Enterprises Ltd closed with a decent demand on Friday, February 7. On the last day of bidding, the NSE SME issue was overall subscribed more than 4 times.

The ₹83.65-crore IPO opened for subscription on February 5.

According to the NSE data at the close of bidding at 5 on the last day, the IPO received bids for more than 3.68 crore shares against 84.54 lakh shares on offer. The IPO was overall subscribed 4.35 times.

The retail investors placed applications for over 2.9 crore equity shares against 42.27 lakh shares on offer. The retail portion was booked 6.86 times. The Non-Institutional Investors (NIIs) applied for over 73.54 lakh shares against 42.27 lakh shares set aside for the category. The NIIs quota was booked 1.73 times. The Qualified Institutional Buyers (QIBs) placed bids for more than 4.69 lakh shares.

After the successful subscription of the IPO, Ken Enterprises is expected to announce the share allotment status on Monday, February 10. Investors can easily check the IPO share allotment status on the official websites of the NSE and issue registrar, Skyline Financial Services Pvt Ltd.

How to check Ken Enterprises IPO share allotment status on the registrar’s website

• Visit the official website of Skyline Financial Services Pvt Ltd https://www.skylinerta.com
• Click on the ‘Investors’ section on the main menu and select ‘Public Issue’ link
• Select Ken Enterprises Ltd from the drop-down list (the name will appear after the finalisation of IPO allotment status)
• Enter Client ID, Application Number, or PAN details
• Click on Search

Steps to check IPO allotment status on NSE

• Open the IPO bids verification page on the NSE to check allotment status: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Choose ‘Equity & SME IPO bid details’ from two options
• Select Ken Enterprises Ltd from the drop-down menu for IPO names
• Verify PAN and enter Application Number
• Click on Submit

Ken Enterprises IPO details

Ken Enterprises is engaged in the textile manufacturing segment. It has more than 20 years of experience in the industry and provides design-to-delivery solutions. The company caters to both domestic and international markets with a range of fabrics such as greige and finished textiles. It exports products to over 10 countries.

The company also supplies products to global brands such as Target, ZARA, and Primark. It has two production units in Ichalkaranji, Kolhapur in Maharashtra.

Here are the key details about the NSE SME issue

• The ₹83.65-crore IPO of Ken Enterprises comprises a fresh issue of 61.99 lakh shares and an offer-for-sale of 27 lakh shares.
• The IPO price was fixed at ₹94 per share.
• The lot size was 1,200 shares, requiring a minimum investment of ₹1,12,800 for retail investors.
• The company has proposed to list its shares on February 12.
• Ken Enterprises shares will be listed on the NSE SME platform.

Ken Enterprises IPO Objects

Ken Enterprises has proposed to utilise the IPO proceeds from the fresh issue part for funding working capital requirements and unidentified acquisitions in India and abroad.

It will also use the proceeds to buy new machinery and meet expenditures for the renovation of both manufacturing facilities.

Ken Enterprises financials

Ken Enterprises reported a net profit of ₹9.52 crore for the April-November period of FY 2024-25. Its total revenue stood at ₹332.85 crore for the period.

The company reported profit after tax of ₹8.92 crore for FY 2023-24 compared to ₹3.94 crore in FY 2022-23. Its total revenue increased to ₹409.12 crore in FY24 compared to ₹375.22 crore in the previous fiscal.

Ken Enterprises Key Performance Indicators (for FY 2023-24)