Ken Enterprises Limited had an underwhelming debut on the NSE SME platform, with its shares opening at ₹85 on February 12—9.57% below the IPO price of ₹94. This decline came despite the company’s IPO attracting reasonable investor interest, recording an overall subscription of 4.36 times.

The ₹83.65 crore IPO was open for bidding from February 5 to February 7, featuring a combination of fresh equity shares worth ₹58.27 crore and an offer for sale of ₹25.38 crore. While the retail investor segment saw significant interest with a 6.86 times subscription, non-institutional investors (NII) subscribed at 1.75 times. Retail investors could apply for a minimum lot size of 1,200 shares, requiring an investment of ₹1.12 lakh.

Ken Enterprises plans to utilize the capital raised to acquire assets both domestically and internationally, purchase new machinery, and invest in facility renovations. Additionally, a portion of the funds will be allocated to working capital requirements. However, proceeds from the offer for sale will not go to the company.

Founded in 1998, Ken Enterprises specializes in textile manufacturing, producing fabrics for apparel, industrial use, and home furnishings. The company operates in Maharashtra’s Ichalkaranji region, known as a key hub for fabric weaving. It focuses on quality-driven production, offering greige, dyed, printed, and sustainable fabrics.

With its IPO listing off to a weak start, investors are closely monitoring the stock’s movement to gauge its future performance in the market.