ENS Enterprises IPO
ListedSMEIT - Software
13.11×
Subscribed
Price band
₹92 – ₹92
Lot size
1,200
1 lot = ₹1,10,400
Issue size
₹33.14 Cr
Open – close
14 Aug 2026
to 18 Aug 2026
Listing
21 Aug 2026
Listing gain
+4.35%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong5 of 7 dimensions read
The disclosed numbers are strong — 4 of 5 signals read positive
Strength87/100
- Priced below its peers10.9× earnings against a peer median of 24.3× — a discount to the issuer's own comparison set
- Out-earns its peersReturn on net worth of 59.0% against a peer median of 22.5%
- Strong revenue growthRevenue compounding at 125.4% across the reported years
- Fresh capital for the business100.0% of the issue is fresh capital raised by the company itself
- Institutional book coveredQIB portion subscribed 9.44×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens14 Aug 2026
- Closes18 Aug 2026
- Allotment19 Aug 2026
- Listing21 Aug 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB9.44x
Non-institutionalNII / HNI22.89x
Big NIIabove ₹10L26.87x
Small NII₹2L – ₹10L14.97x
Retail individualRII11.02x
6,892 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 18 Aug 2026.
Chance of allotment
Retail11.02× subscribed
~1 in 11
Minimum 2 lots · 2,400 shares · ₹2,20,800 blocked
Retail is 11.02× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 11 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII22.89× subscribed
~1 in 22.9
Minimum 1 lot · 1,200 shares · ₹1,10,400 blocked
HNI is 22.89× subscribed. This category is allotted proportionately, so a bid receives roughly 1/22.9 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹92 – ₹92
Face value₹10
Lot size1,200shares
Minimum application₹1,10,400at cut-off
Total issue size₹33.14 Cr
Fresh issue₹33.14 Cr
Listing atSME platform
Company & valuation
P/E at upper band10.95×
ROE98.97%
ROCE78.41%
RoNW58.97%
PAT Margin16.35%
EBITDA Margin22.78%
NAV18.45
Price to Book Value4.99
ISININE23ER01017
RegistrarAbhipra Capital Ltd
0.0% of this issue is an offer for sale. The rest is fresh capital that goes into the company itself.
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 17,10,000 | 47.47% |
| Anchor Investor | 10,26,000 | 28.48% |
| QIB (Ex. Anchor) | 6,84,000 | 18.99% |
| NII (HNI) | 5,13,600 | 14.26% |
| bNII > ₹10L | 3,42,000 | 9.49% |
| sNII < ₹10L | 1,71,600 | 4.76% |
| Retail | 11,97,600 | 33.24% |
| Market Maker | 1,81,200 | 5.03% |
Total issue 36,02,400 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,20,8002 lots · 2,400 sh
Individual investors (IND) (Max)₹2,20,8002 lots · 2,400 sh
S-HNI (Min)₹3,31,2003 lots · 3,600 sh
S-HNI (Max)₹9,93,6009 lots · 10,800 sh
B-HNI (Min)₹11,04,00010 lots · 12,000 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted10,26,000
Anchor portion₹9.44 Cr
Bid date13 Aug 2026
Lock-in ends (50%)18 Sept 2026
Lock-in ends (rest)18 Nov 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Investment related to enhancement, maintenance and upgrading of existing products through manpower hiring₹17.02 Cr
- 02Investment in upgradation of IT Infrastructure₹6.75 Cr
- 03Repayment of Borrowings₹1.2 Cr
- 04General Corporate Purposes₹4.9 Cr
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2024 | 10.109 | — | 0.903 | — | — |
| 2025 | 28.333 | — | 3.704 | — | — |
| 2026 | 51.373 | — | 8.398 | — | — |
Revenue CAGR 125.4%PAT CAGR 204.9%
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| ENS Enterprises Limitedthis issue | 8.40 | 10.95 | 18.45 | 58.97% |
| ASM Technologies Limited | 53.77 | 92.27 | 230.85 | 24.49% |
| Infobeans Technologies Limited | 6.90 | 24.31 | 37.97 | 19.66% |
| Silver Touch Technologies Limited | 14.89 | 12.99 | 66.28 | 22.47% |
Blank cells are figures the offer document does not publish. An unlisted issuer has no market price, so it has no price-based multiple until it lists — which is exactly why the comparison is against companies that already trade. The peer set is the issuer's own selection, so read it as the flattering-est comparison available rather than a neutral one.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumSubstantial portion of revenues has been dependent on few customers. Revenue from operations from top 10 customers contributed to 69.17%, 60.12% and 87.09% of revenues for the financial years ending March 31, 2026, March 31, 2025 and March 31, 2024 respectively. The Company does not have any long-te
Positives the filing discloses (2)
Primarily fresh capital
100% of the offer is fresh issue, so most proceeds fund the company.
Strong revenue growth
Restated revenue CAGR of 125.4%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-2.2%
Listed up
1 of 8
Best
+0.4%
Papadmalji Agro Foods Limited
Worst
-17.5%
Himalayan Solar
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Green Asia Impexsame segment
1.0× sub+0.0%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Dudani Retailsame segment
1.4× sub-13.8%
Himalayan Solarsame segment
1.2× sub-17.5%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About ENS Enterprises
ENS Enterprises Limited is a technology company providing digital commerce enablement and software solutions. Its services cover online commerce platforms, Open Network for Digital Commerce (ONDC) integrations, software development, mobile applications, cloud and DevOps services, and digital marketing. The company also develops Software as a Service (SaaS) products that generate subscription-based revenue, along with providing consulting, development and integration services for blockchain-based solutions, including smart contracts and ONDC protocol-based applications. It provides technology support covering strategy, development, deployment, growth and ongoing maintenance. The company is headquartered in Uttar Pradesh, India, and serves clients in India as well as the United States, Japan, Singapore, the United Kingdom, and Canada. In 2022, it was empanelled as a Technology Service Provider for the Government of India’s ONDC initiative. Its research and development (R&D) activities cover technologies, including artificial intelligence (AI) and machine learning (ML), generative AI (GenAI), predictive analytics, Internet of Things (IoT), blockchain, and cloud-native architectures.
Founded 2016MD Mr Avinash Kumar SinghSector IT - Software
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the ENS Enterprises IPO subscribed?
ENS Enterprises is subscribed 13.11× overall (QIB 9.44×, NII 22.89×, retail 11.02×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, Abhipra Capital Ltd.
What is the minimum investment in the ENS Enterprises IPO?
One lot is 1,200 shares, so a retail application at the ₹92 cut-off price blocks ₹1,10,400. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the ENS Enterprises IPO?
The retail portion is subscribed 11.02×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 11. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the ENS Enterprises IPO allotment date?
Allotment is scheduled for 2026-08-19, with listing on 2026-08-21. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, Abhipra Capital Ltd.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.