Ken India, a dynamic and visionary textile organization, specializes in providing high-quality fabrics on a global scale. Our unwavering commitment to exceptional customer service and adherence to ethical standards sets us apart. With a team of experienced professionals, we offer tailored solutions to meet diverse requirements.

Ken Enterprises, an Fixed Price Issue amounting to ₹ 83.65 Crores, consisting an fresh issue of 61.99 Lakh Shares worth 58.27 Crores and an Offer for Sale of 27.00 Lakh Shares totalling to 25.38 Crores. The subscription period for the Ken Enterprises IPO opens on February 5, 2025, and closes on February 7, 2025. The allotment is expected to be finalized on or about Monday, February 10, 2025, and the shares will be listed on the NSE SME with a tentative listing date set on or about Wednesday, February 12, 2025.

The Share price of Ken Enterprises IPO is set at ₹ 94 per equity share. The Market Capitalisation of the Ken Enterprises Limited at IPO price of ₹ 94 per equity share will be ₹ 230.91 Crores. The lot size of the IPO is 1,200 shares. Retail investors are required to invest a minimum of ₹ 1,12,800, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (2,400 shares), amounting to ₹ 2,25,600.

CORPORATE MAKERS CAPITAL LIMITED is the book running lead manager of the Ken Enterprises IPO, while SKYLINE FINANCIAL SERVICES PRIVATE LIMITED is the registrar for the issue. Giriraj Stock Broking Private Limited is the Market Maker for Ken Enterprises IPO.

Ken Enterprises Limited IPO GMP Today
The Grey Market Premium of Ken Enterprises Limited IPO is expected to be ₹ 0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Ken Enterprises Limited Day Wise IPO GMP Trend

Date	IPO Price	Expected Listing Price	GMP	Last Updated
30 January 2025	₹ 94	₹ 94	₹ 0 (0.000%)	06:00 PM; 30 Jan 2025

Ken Enterprises Limited IPO Live Subscription Status Today: Real-Time Update
As of 11:00 AM on 07 February, 2025, the Ken Enterprises IPO live subscription status shows that the IPO subscribed 3.69 times on its final day of subscription period. Check the Ken Enterprises IPO Live Subscription Status Today at NSE.

Ken Enterprises Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Ken Enterprises IPO allotment date is 10 February, 2025, Monday. Ken Enterprises IPO Allotment will be out on 10 February, 2025 and will be live on Registrar Website from the allotment date. Check Ken Enterprises IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Ken Enterprises Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Ken Enterprises Limited IPO
Ken Enterprises proposes to utilise the Net Proceeds towards the following objects: 
1. ₹ 625.00 Lakhs is required to Unidentified Acquisitions in India and abroad;
2. ₹ 453.30 Lakhs is required for Purchase of New Machinery
3. ₹ 376.54 Lakhs is required for Capital Expenditure for renovation of both Manufacturing Facilities;
4. ₹ 2,500.00 Lakhs is required to meet Working Capital Requirements

Refer to Ken Enterprises Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.

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About Ken Enterprises Limited

Business Overview

Ken Enterprises operates as a design-to-delivery solutions provider for greige and finished fabrics, catering to both domestic and export markets across 10+ countries. The company is an approved vendor for leading international brands such as ZARA (Inditex Group), Target, and Primark. The diverse fabric portfolio includes structures, seer suckers, double layer, three layer, four layer, chambrays, and fashion fabrics with metallic yarns, serving applications in fashion wear, home textiles, embroidery, and industrial use.

With over 20 years of experience, Ken Enterprises has received multiple awards from the Cotton Textiles Export Promotion Council (Texprocil). The company follows an asset-light business model, leveraging third-party manufacturers in Ichalkaranji, Maharashtra, a major textile hub, for greige fabric production. This approach enables higher sales without capital expenditure, providing flexibility for product development and sales expansion.

The company operates two manufacturing units in Shirol Taluka, Ichalkaranji vicinity, while collaborating with third-party manufacturers for greige fabric production on a job-work basis. The product range includes greige, dyed, printed, and ready-for-dyeing (RFD/PFD) fabrics, with a focus on quality, sustainability, and customer-specific customization.

Commitment to corporate responsibility is reflected in ergonomic training, personal hygiene, and safety initiatives at manufacturing facilities. Sustainability efforts include the installation of an 8KW rooftop solar plant to power registered office operations. As of December 31, 2024, the company had 228 permanent employees. The Banker to the Company is Canara Bank

Industry Analysis

Textile Industry in India
India's textile industry is a cornerstone of its economy, deeply intertwined with its cultural heritage. Dating back centuries, this sector has evolved from hand-spun and hand-woven textiles to modern, technologically advanced manufacturing. One of the most significant aspects of the Indian textile industry is its diverse range of products. From luxury fabrics like silk and cashmere to everyday essentials like cotton and polyester, India produces a vast array of textiles. This diversity is fueled by the country's rich agricultural resources, skilled workforce, and government initiatives to promote textile exports.

Grey fabric, a key intermediate product in the textile value chain, plays a crucial role in the Indian industry. Grey fabric refers to the unfinished fabric that is produced before dyeing, printing, or finishing processes. It is the foundation upon which a wide range of textile products are built. India has a strong base of grey fabric manufacturing, with numerous mills and factories producing high-quality fabrics for both domestic and international markets.

The Indian textile industry faces both challenges and opportunities. On the one hand, it competes with low-cost producers in other countries, particularly in areas like apparel manufacturing. On the other hand, the industry is also poised for growth, driven by factors such as increasing domestic consumption, rising exports, and technological advancements. Government initiatives, such as the Technology Upgradation Fund Scheme (TUFS), have played a significant role in modernizing the industry and enhancing its competitiveness.

The textile market in India is one of the oldest industries in the country, with a rich heritage that spans centuries. Overall, the industry contributes around 2% to the country's GDP and accounts for 7% of industrial output in value terms. With a 4% share of the global textile and apparel trade, the sector is vital for India's export economy, making up 10.33% of the country's overall export basket during 2021-22. This sector is broadly divided into several segments including fibre and yarn, processed fabrics, garments, and technical textiles. The garment sector is divided into ready-made garments and customized tailoring.

The spinning sector is struggling with high under-utilization due to reduced yarn imports from China and sluggish buying from weavers and knitters. The combined effect of reduced exports and lacklustre local consumption has compounded the industry's challenges. In response, initiatives such as the Production Linked Incentive (PLI) and PM Mitra schemes aim to attract investments in man-made fibres and technical textiles, to reduce import dependence over time.

Textile mills are also experiencing margin pressures, even as cotton prices stabilize around a two-year low. Adding to these difficulties, the industry is grappling with a significant rise in freight costs, up by 40% due to disruptions in the Red Sea region. This unexpected increase in transportation expenses raises concerns about its impact on operational costs and product pricing, particularly for the cost-sensitive ready-made garment market.

The Indian textile and apparel market size was estimated to be approximately USD 165 billion in 2023, with the domestic market accounting for USD 125 billion and exports contributing USD 40 billion. This growth is driven by increasing domestic demand, favourable government policies, and the rising preference for sustainable and ethically produced textiles, positioning India as a key player in the global textile industry

Synthetic Textile Industry in India
Synthetic fabrics are man-made textiles produced from chemical processes. These fabrics are derived from synthetic fibers such as polyester, nylon, acrylic, and spandex, which are made by polymerizing small molecules into long chains. Synthetic fabrics are widely used in various industries, including fashion, home furnishings, and industrial applications, due to their durability, versatility, and cost-effectiveness.

Synthetic fabrics are prized for their durability, wrinkle resistance, and quick-drying properties. These textiles, made from fibers like polyester, nylon, and acrylic, are strong, resistant to wear and tear, and maintain their shape and appearance even with extensive use. They also offer moisture-wicking and low absorbency features, making them ideal for activewear and easy-toclean home textiles. Additionally, synthetic fabrics like spandex are known for their exceptional elasticity, providing comfort and flexibility in various garments.

The market for synthetic fabrics is driven by the growing demand for affordable, durable, and high-performance textiles. A significant trend is the increasing focus on sustainability, with manufacturers exploring the use of recycled materials and ecofriendly production processes. The popularity of activewear and athleisure continues to boost demand for synthetic fabrics, particularly those offering moisture-wicking and quick-drying capabilities. Additionally, there is a rising interest in blending synthetic and natural fibers to create fabrics that combine performance with environmental consciousness.

While synthetic fabrics offer numerous advantages, their environmental impact is a significant concern. The production of synthetic fibers is energy-intensive and heavily reliant on petrochemicals, contributing to carbon emissions. Moreover, synthetic fabrics are non-biodegradable, leading to long-term pollution as they persist in the environment. The shedding of microplastics from synthetic textiles during washing is another growing environmental issue, as these tiny particles pollute waterways and pose risks to marine life.

Synthetic fabrics have a wide range of end-use applications across various industries due to their versatility and performance characteristics. In the apparel industry, they are extensively used in sportswear, activewear, and outdoor clothing because of their durability, moisture-wicking properties, and ease of maintenance. In the home textiles sector, synthetic fabrics are popular for items like curtains, upholstery, and bed linens, where stain resistance and longevity are key. Additionally, these fabrics are used in the production of industrial textiles, including automotive interiors, geotextiles, and protective clothing, owing to their strength and resistance to environmental factors.

Business Strengths

1. Experienced Leadership & Skilled Workforce
A dedicated senior management team with over two decades of industry experience drives business growth by identifying opportunities, developing customer-centric products, and executing strategic plans. With a 25+ year track record, the company has demonstrated resilience through economic cycles. A competent Board of Directors and an experienced Managing Director contribute to sustained profitability and market adaptability.

2. Strong Financial Performance
Consistent profitability with a profit after tax of ₹952.63 Lakhs (Nov 2024) and ₹892.73 Lakhs, ₹394.85 Lakhs, ₹236.46 Lakhs in FY 2024, 2023, and 2022, respectively. A strong EBITDA of ₹1,725.44 Lakhs (Nov 2024) reflects operational efficiency. Strategies such as production optimization, process improvements, and high-margin product focus enhance profitability and revenue growth.

3. Asset-Light Business Model
Located in Ichalkaranji, Maharashtra, a textile hub, the company leverages a third-party manufacturing network to scale production without capital investment. With an in-house capacity of 145 lakh square meters per annum, outsourcing excess demand ensures cost-effective operations and streamlined inventory management.

4. Established Client Relationships
Long-term partnerships with apparel exporters and manufacturers ensure repeat business and a strong market reputation. A B2B business model fosters trust, customer retention, and continuous expansion into new markets.

5. Diverse Product Portfolio
Offering 1,000+ SKUs across various fabric categories positions the company as a one-stop sourcing solution for customers. A broad product range attracts new clients and strengthens relationships with existing customers.

6. In-House Product Development
Years of expertise in fabric development enable collaborations with leading Indian and global apparel brands. A dedicated team, led by the Managing Director, focuses on innovation and new product development to align with future industry trends.

7. Rapid Development & Short Delivery Cycles
A design-to-delivery capability ensures quick turnaround times from product development to customer approval and dispatch. Fast execution within industry-standard timelines enhances customer satisfaction and retention.

Business Strategies

1. Dual Growth Approach: Organic Innovation & Brownfield Expansion
A balanced strategy combining organic growth through continuous product innovation and brownfield expansion by strengthening partnerships with diverse fabric manufacturers. Leveraging in-house capabilities and existing infrastructure enhances operational efficiency, minimizes costs, and meets rising market demands.

2. Engagement with Global Brands
Approved vendor status for major brands like ZARA, Primark, and Target facilitates access to international markets. A diverse fabric portfolio, in-house product development, and strategic vendor collaborations ensure high-quality materials, strengthening the value proposition for partnerships with leading global brands.

3. Commitment to Quality Standards
Stringent quality control measures from raw materials to finished goods ensure adherence to high standards. Continuous monitoring and corrective actions enhance customer trust and long-term relationships by delivering premium products.

4. Strong Supplier, Customer, and Employee Relations
Long-term partnerships with strategic suppliers, customers, and employees drive sustained business growth. Efficient delivery, cost-effective supply chain management, and a collaborative approach improve overall performance and market positioning.

5. Global Market Expansion
Sales across 10+ countries, participation in trade fairs, and targeted marketing efforts enhance international reach. A diverse product range and rapid turnaround time create opportunities to expand the global footprint in the coming years.

Business Risk Factors and Concerns

1. Dependence on Third-Party Manufacturers
Manufacturing relies on third-party job work arrangements in Ichalkaranji, Kolhapur, a major textile hub. While the region offers a strong ecosystem, reliance on external manufacturers exposes operations to risks such as equipment failures, industrial accidents, labor unrest, and natural disasters. Variability in third-party manufacturing quality could adversely affect product standards and financial performance.

2. Geographical Concentration Risk
Operations are centralized in Ichalkaranji, Kolhapur, making the business vulnerable to localized disruptions such as social unrest, natural calamities, and infrastructure constraints. The increasing presence of competitors without proportional infrastructure growth may intensify competition and strain resources, impacting business stability.

3. Exposure to International Market Risks
A significant portion of revenue is derived from exports, with South Korea as the largest export destination. Dependence on international markets exposes operations to risks including currency fluctuations, trade regulations, geopolitical tensions, and economic uncertainties, which could impact export continuity and revenue stability.

4. Product Line Dependence
Revenue generation is reliant on regular and sustainable greige fabrics, with no immediate diversification into finished fabrics. Any shift in customer preferences towards more advanced or finished textile products could reduce demand, affecting sales volume, financial performance, and long-term business sustainability.

Ken Enterprises faces key risks due to its reliance on third-party manufacturers, exposing operations to quality control issues and external disruptions. The geographical concentration in Ichalkaranji, Kolhapur, makes it vulnerable to local unrest and infrastructure challenges. Heavy dependence on exports, particularly to South Korea, subjects revenue to global market uncertainties. Additionally, the company’s limited product range, focused on greige fabrics, risks declining demand if market preferences shift toward finished textiles.