Ken Enterprises IPO Closed
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Schedule of Ken Enterprises
| Issue open date | 05 Feb 2025 |
| Issue close date | 07 Feb 2025 |
| UPI mandate deadline | 07 Feb 2025 (5 PM) |
| Allotment finalization | 10 Feb 2025 |
| Refund initiation | 11 Feb 2025 |
| Share credit | 11 Feb 2025 |
| Listing date | 12 Feb 2025 |
| Mandate end date | 20 Feb 2025 |
| Lock-in end date for anchor investors (50%) | 12 Mar 2025 |
| Lock-in end date for anchor investors (remaining) | 11 May 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Ken Enterprises
Incorporated in 1998, Ken Enterprises is engaged in the manufacturing of greige and finished fabrics for various applications, including apparel, home textiles, and industrial use. The company operates with an asset-light model, relying on third-party manufacturers in Ichalkaranji, Maharashtra, to support its production capacity. Its product range includes a variety of fabrics, from organic and sustainable options to more traditional offerings. Ken Enterprises serves both domestic and international markets, with clients such as ZARA, Target, and Primark. The company holds ISO 9001:2015 and GOTS (Global Organic Textile Standard) certifications, ensuring quality standards.
Financials of Ken Enterprises
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹83.65 crores |
| Fresh Issue | ₹58.27 crore |
| Offer for Sale | ₹25.38 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Unidentified acquisitions | 6.25 (10.73%) |
| Purchase of machinery | 4.53 (7.78%) |
| Renovation of manufacturing facilities | 3.77 (6.47%) |
| Working capital requirements | 25 (42.89%) |
Strengths
- Asset-light model enabling scalable operations without heavy investment.
- Long-term B2B customer relationships driving repeat orders.
- Diverse product range offering single-source sourcing solutions.
- In-house product development expertise supporting innovation.
- Quick development and efficient delivery ensuring customer satisfaction.
Risks
- Dependency on third-party manufacturers with operational risks.
- Past negative cash flows may impact future financial performance.
- Manufacturing disruptions may affect operations and financials.
- Lack of long-term contracts with customers may affect revenue stability.
- Reliance on greige fabric sales, vulnerable to market shifts.
- Operations are subject to environmental and safety regulations, with compliance risks.
- The company does not receive proceeds from the Offer for Sale (OFS).
Allotment Status for Ken Enterprises
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Subscription Figures for Ken Enterprises
Subscription numbers as of 5:00 PM on 7 Feb 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| HNI (₹2L+) | 42.27 | 73.54 | 1.73x |
| Retail (upto ₹2L) | 42.27 | 290.12 | 6.86x |
| Total | 84.54 | 368.36 | 4.35x |