Ken Enterprises Limited IPO Information & Details
• The company is in textile manufacturing and marketing with major operations from third party job contracts.
• It posted steady growth in its top lines for the reported periods.
• The sudden boost in bottom line in pre-IPO periods raises eyebrows and concern over its sustainability as it is operating in a highly competitive and fragmented segment.
• Higher margins reported by it compared to its listed peers’ surprises one and all.
• Based on its recent financial performance, the issue appears aggressively priced.
• Well-informed investors may park funds for medium to long term
Ken Enterprises IPO is a fixed price issue of Rs 83.65 crores. The issue is a combination of fresh issue of 61.99 lakh shares aggregating to Rs 58.27 crores and offer for sale of 27.00 lakh shares aggregating to Rs 25.38 crores.
Ken Enterprises IPO opens for subscription on February 5, 2025, and closes on February 7, 2025. The allotment for the Ken Enterprises IPO is expected to be finalized on Monday, February 10, 2025. Ken Enterprises IPO will list on NSE SME with tentative listing date fixed as Wednesday, February 12, 2025.Ken Enterprises IPO price is ₹ 94 per share. The minimum lot size for an application is 1200. The minimum amount of investment required by retail investors is ₹1,12,800. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹2,25,600.
Corporate Makers Capital Ltd. is the book running lead manager of the Ken Enterprises IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Ken Enterprises IPO is Giriraj Stock Broking Private Limited.
[Company Financials] Ken Enterprises Limited Financial Information
Period Ended 30 Nov 2024 31 Mar 2024 31 Mar 2023 31 Mar 2022
Assets 266.3 242.15 195.16 187.2
Revenue 332.85 409.13 375.23 360.32
Profit After Tax 9.53 8.93 3.95 2.36
Net Worth 54.38 44.85 35.93 31.98
Reserves and Surplus 36.01 42.27 33.34 29.39
Total Borrowing 43.14 47.8 449.45 41.01
Amount in ₹ Crore
About Ken Enterprises Limited
Incorporated in 1998, Ken Enterprises Limited is engaged in the business of textile manufacturing.
The company manufactures fabrics for various purposes, including apparel, industrial, technical, shirtings, and home furnishings.
The company is into manufacturing of greige fabrics. They utilize third-party manufacturing services for the production of greige fabric on a job-work basis, located in and around Ichalkaranji, Maharashtra, a key fabric weaving hub, to enhance their manufacturing capacity.
The company’s business model focuses on quality and customer satisfaction, supplying regular and sustainable greige and finished fabrics on an order-to-order basis. The product range includes greige, dyed (supported by third parties), printed, and RFD/PFD fabrics.
The company has two manufacturing units, both located in Sharol taluka near Ichalkaranji, covering a combined area of approximately 50,000 square feet and equipped with the necessary machinery.
Product Portfolio:
- High Value Apparel Fabrics
- Voiles: for Ladies wear
- Light Canvas fabrics: For Shoe uppers, Bags, Cargo pants
- Organic and sustainable fabrics: For High-end apparel
- Bed Linen: For Home Textiles
- Shoe Canvases: For Shoes
As of December 31, 2024, the company had 228 permanent employees.
Competitive Strengths:
- Experienced Leadership Backed by a dedicated employee base
- Robust Financial Performance
- Asset light model
- Established Relationships with the clients
- Diverse product portfolio offering single point sourcing solution for customers
- In-house product development expertise
- Fast development and short delivery time
Ken Enterprises IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹1,12,800 |
| Retail (Max) | 1 | 1200 | ₹1,12,800 |
| HNI (Min) | 2 | 2,400 | ₹2,25,600 |
Ken Enterprises IPO Details
| IPO Date | February 5, 2025 to February 7, 2025 |
| Listing Date | 10 feb |
| Face Value | ₹10 per share |
| Price | ₹ 94 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 88,99,200 shares (aggregating up to ₹83.65 Cr) |
| Fresh Issue | 61,99,200 shares (aggregating up to ₹ 58.27 Cr) |
| Offer for Sale | 27,00,000 shares of ₹10 (aggregating up to ₹25.38 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share Holding Pre-Issue | 1,83,66,280 shares |
| Share Holding Post Issue | 2,45,65,480 shares |
| Market Maker Portion | 4,45,200 shares |
Ken Enterprises IPO Timeline &Tentative Schedule
Ken Enterprises IPO opens on February 5, 2025, and closes on February 7, 2025.
| IPO Open Date | Wednesday, February 5, 2025 |
| IPO Close Date | Friday, February 7, 2025 |
| Basis of Allotment | Monday, February 10, 2025 |
| Initiation of Refunds | Tuesday, February 11, 2025 |
| Credit of Shares to Demat | Tuesday, February 11, 2025 |
| Listing Date | Wednesday, February 12, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 7, 2025 |
Ken Enterprises IPO Promoter Holding
Mr. Nikunj Hariprasad Bagdiyaand, Mrs. Bina Hariprasad Bagdiya are the promoters of the company.
| Share Holding Pre-Issue | 81.21% |
| Share Holding Post Issue | 49.72% |
Key Performance Indicator
The market capitalization of Ken Enterprises IPO is Rs 230.92 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 19.90% |
| ROCE | 51.52% |
| Debt/Equity | 0.09 |
| RoNW | 19.90% |
| PAT Margin | 2.22 |
| Price to Book Value | 3.85 |
Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.86 | 5.82 |
| P/E (x) | 19.34 | 16.1 |
Objects of the Issue (Ken Enterprises IPO Objectives)
The Company proposes to utilize the funds which are being raised towards funding the following objects:
- Unidentified Acquisitions in India and abroad
- Purchase of New Machinery
- Capital Expenditure for renovation of both Manufacturing Facilities
- To meet Working Capital Requirements
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