Vaishnavi Prakash
Mumbai (Maharashtra) [India], February 4: Ken Enterprises Limited, a textile manufacturer, has announced its Initial Public Offering (IPO), which is set to open on February 05, 2025. The company aims to raise ₹ 83.65 crores, with shares to be listed on the NSE Emerge platform.
Equity Share Allocation
- Non-Institutional Investors (NII) – Up to 42,27,000 Equity Shares
- Retail Individual Investors (RII) – Up to 42,27,000 Equity Shares
- Market Maker – 4,45,200 Equity Shares
Utilization of Proceeds:
- Unidentified Acquisitions in India and abroad
- Purchase of New Machinery
- Capital Expenditure for renovation of both manufacturing facilities
- Working Capital Requirements
- General Corporate Purposes
The Lead Manager to the Issue is Corporate Makers Capital Limited, The Registrar to the Issue is Skyline Financial Services Private Limited.
Mr. Nikunj Hariprasad Bagdiya, Managing Director & Chairman of Ken Enterprises Limited expressed, “The launch of our IPO is a defining moment in Ken Enterprises Limited’s journey of over two decades in the textile industry. We have worked hard to build a reputation for delivering high-quality, sustainable fabrics to renowned global brands like ZARA, Target, and Primark. Our asset-light business model, coupled with strong partnerships with third-party manufacturers, has enabled us to grow efficiently while maintaining a steadfast focus on quality and customer satisfaction.
The funds raised through this offering will drive growth, improve efficiency, and strengthen our position in the textile industry. Specifically, the proceeds will be utilized for acquisitions in India and abroad, the purchase of new machinery, capital expenditure for the renovation of our manufacturing facilities, and to meet working capital requirements. We are excited about the future and look forward to the opportunities ahead with the continued support of our employees and clients as we begin this exciting new chapter.”
Mr. Rohit Pareek, Director of Corporate Makers Capital Limited said, “Ken Enterprises Limited has built a strong reputation as a trusted player in India’s thriving textile industry, with a well-established client base that includes renowned global brands. The textile sector is at a transformational phase, with increasing demand for high-quality, sustainably sourced fabrics and advanced manufacturing capabilities. With its asset-light model, stringent quality control, and focus on innovation, Ken Enterprises Limited is well-positioned to capitalize on this shift.
With a clear vision and strong execution capabilities, Ken Enterprises Limited is set to further strengthen its presence in the textile sector. As the Lead Manager, we are proud to support the company in this significant phase of expansion.”
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