ENS Enterprises Ltd IPO
Status: Closed
Overview
IPO date
14 Aug 2026 to 18 Aug 2026
Face value
₹ 10 per share
Price
₹ 87 to ₹92 per share
Issue Size
3,602,400 shares
(aggregating up to ₹ 33.14 Cr)
(aggregating up to ₹ 33.14 Cr)
Allotment Date
19 Aug 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
IT - Software
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T&C*
Strengths vs Risks of ENS Enterprises Ltd
Know the pros & cons
Strengths
- Experienced Management Expertise.
- Established Relationships with Client Base.
- Recognized Technology Service Provider (TSP) for ONDC.
- Diverse Digital Commerce Portfolio.
- Skilled and Multi-Disciplinary Workforce.
Risks
- Substantial portion of the company's revenues has been dependent on few customers. Further the company does not have any long-term commitments from customers and any failures to continue its existing arrangements or loss of any one or more of the company's major clients would adversely affect its business and results of operations.
- There have been certain instances of Delays in Filing with Registrar of Companies, non-filing, or partial compliance with the requirements of certain statutory authorities and applicable regulatory provisions.
- There are outstanding litigation proceedings involving the Company, its Promoters, an adverse outcome in which, may have an adverse impact on the company's reputation, business, financial condition, results of operations and cash flows.
- There are certain instances of delays in payment of statutory dues. Any delay in payment of statutory dues or non-payment of statutory dues in dispute may attract financial penalties from the respective government authorities, which may have an adverse impact on the company's financial condition and cash flows.
- The company has experienced negative cash flows and any negative cash flows in the future could adversely affect its financial conditions and results of operations.
- The company's currently does not hold any registered Intellectual Property Rights in its name, and this may affect the company's ability to obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
- Anupam Kumar Srivastava, one of the company's Promoters and a significant shareholder, has resigned from the office of Whole-Time Director of the Company. Any adverse impact arising from his cessation from management may affect its business operations and future growth prospects.
- The company's Promoters has extended their personal guarantees with respect to various loan facilities availed by the Company. Revocation of any or all of these personal guarantees may adversely affect its business operations and financial condition.
- Registered Office of the Company is located on rental premises. If the company is unable to renew such rent agreements or relocate on commercially suitable terms, it may have a material adverse effect on its business, results of operations and financial condition.
- If the company is unable to collect its receivables from, or bill the company's unbilled services to, its clients, the company's results of operations and cash flows could be materially adversely affected.
- The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
- Relevant copies of Experience Certificates of the company's Non- Executive-Independent Directors are not traceable.
- The company's global operations expose it to significant legal, regulatory, and market risks, which could adversely affect its business and financial condition.
- After the conversion of the Company into public limited, the company is required to update the name of its company in some of the statutory approvals, certificates, licenses and registrations due to the change of Status of the Company.
- Changes in Statutory Auditors.
- The company's insurance coverage may not be adequate to protect it against all potential losses to which the company may be subject and this may have a material effect on its business and financial condition.
- The Company's success is highly dependent on its ability to attract, train, motivate and retain skilled IT professionals, and any failure to do so may adversely affect the company's operations, financial performance and growth prospects.
- If the company is unable to manage its growth effectively and further expand into new markets the company's business, future financial performance and results of operations could be materially and adversely affected.
- The company's software products may be susceptible to issues arising from coding errors, configuration faults, or other technical defects, which could result in significant costs for the company, delays in revenue generation, and potential exposure to legal proceedings.
- The company relies on third-party data centers and cloud computing providers, and any interruption or delay in service from these facilities could impair the delivery of its products and adversely impact the company's business and results of operations.
- The company's business is operating under various laws which requires it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business and its inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for the company's business operations could materially and adversely affect its business, prospects, results of operations and financial condition.
- Any IT system failures or lapses on part of any of the company's employees may lead to operational interruption, liabilities or reputational harm.
- The company is dependent on its skills and ability to customize software products as per the demands and requirements of the customer based on latest technology. If the company is not able to enhance its skills, experience and deliverables in response to evolving industry requirements, the company's operating results may be negatively affected.
- The company may has issued Equity Shares at a price below the proposed issue price during the past 1 year prior to the date of filing the Red Herring Prospectus.
- The company's incorporate third-party open-source software into its customer deliverables and the company's failure to comply with the terms of the underlying open-source software licenses could adversely impact the company's customers and create potential liability on it.
- Cyber risk and the failures to maintain the integrity of the company's operational or security systems or infrastructure, or those of its customers with which the company's conduct business, could have a material adverse effect on its business, results of operations, financial condition and cash flows.
- The company's lenders has charge over its movable properties in respect of finance availed by it.
- The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further the company has not identified any alternate source of financing the Objects of the Issue. Any shortfall in raising/ meeting the same could adversely affect its growth plans, business operations and financial condition.
- The company has not yet placed orders in relation to the capital expenditure to be incurred for the proposed purchase of equipment's. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment in a timely manner, or at all, the same may have adverse effects on its operational and financial performance.
- Interruptions or performance problems associated with the company's technology and infrastructure may harm its business and results of operations.
- In execution of the company's projects, its collects information and data which are highly sensitive with regard to maintenance of secrecy of the projects and its data and information. Any failures on the company's part to maintain secrecy of its projects, will have an adverse effect on the company's results of operations and financial condition.
- The company may become liable to its customers and lose customers if the company has defects or disruptions in its service or if the company provides poor service.
- The Objects of the Issue for which funds are being raised, are based on the company's management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at the company's discretion, based on the parameters as mentioned in the chapter titled "Objects of the Issue".
- The company's success depends largely upon the services of its Directors, Promoters, Key Managerial Personnel, Senior Management Personnel and the company's ability to attract and retain them. Demand for Key Managerial Personnel in the industry is intense and the company's inability to attract and retain Key Managerial Personnel may affect the operations of the Company.
- The company's lenders has imposed certain restrictive conditions on it under its financing arrangements. The company's inability to meet its obligations, including financial and other covenants under the company's debt financing arrangements could adversely affect its business, financial condition, results of operations and cash flows.
- The company's failure to adapt to technological developments or industry trends could affect the performance and features of its products and services and reduce the company's attractiveness to its customers.
- The company's ability to pay dividends in the future will depends on its earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of the company's financing arrangements.
- Any further issuance of Equity Shares by the Company or sales of Equity Shares by any significant shareholders may adversely affect the trading price of the Equity Shares.
- The average cost of acquisition of Equity shares by the company's Promoters is lower than the Issue price.
- Orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on the company's business, financial condition and results of operations.
- The implementation process of solutions and services being provided by the Company to clients may in some cases be time consuming, and any failures to satisfy its clients or perform as desired could harm the company's business, results of operations, and financial condition.
- Exchange rate fluctuations may adversely affect the company's results of operations as its revenues is denominated in foreign currencies.
- Changing laws, rules and regulations and legal uncertainties, including adverse application of corporate and tax laws, may adversely affect the company's business, results of operations, financial condition, and prospectus.
- The determination of the Price Band is based on various factors and assumptions, and the Issue Price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The company's client's proprietary rights may be misappropriated by its employees in violation of applicable confidentiality and non-disclosure agreements and as a result, cause it to breach its contractual obligations in relation to such proprietary rights.
- If the company fails to maintain an effective system of internal controls, its may not be able to successfully manage, or accurately report, the company's financial risks.
- The continuing effect of the COVID-19 pandemic on the company's business, results of operations and financial condition is highly uncertain and cannot be predicted.
- If the company is unable to source business opportunities effectively, its may not achieve the company's financial objectives.
- The company's Promoters and Promoter Group will continue to retain significant control in the Company, which will allow them to influence the outcome of matters submitted to shareholders for approval.
- The company's majority of directors does not possess experience of any listed company.
- The company is subject to anti-bribery, anti-corruption and sanctions laws and regulations and a failures to comply with such laws and regulations could have an adverse effect on the company's business, reputation, financial condition, results of operations, investor confidence and the trading price of its Equity Shares.
- There is no guarantee that the Equity Shares will be listed on the SME Platform of BSE Limited in a timely manner, or at all.
ENS Enterprises Ltd Peer Comparison
Understand the company’s industry standing
ENS Enterprises Ltd
ASM Technologies Limited
Infobeans Technologies Limited
Face Value
10
10
10
Standalone / Consolidated
Standalone
Standalone
Standalone
Total Income Rs. Cr.
39.219834
497.986
381.08
EPS-Basis
4.5
53.77
6.9
EPS-Diluted
---
---
---
NAV Per Share
14.55
230.85
37.97
P/E-Basic EPS
---
92.27
24.31
P/E-Diluted EPS
---
---
---
RONW(%)
36.61
24.49
19.66
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 14 Aug 2026 & closes on 18 Aug 2026.
ENS Enterprises Limited was originally incorporated as a Private Limited Company as 'ENS Enterprises Private Limited' on January 07, 2016 with the Registrar of Companies, Kanpur. Company was converted into a Public Limited Company, and its name was changed from 'ENS Enterprises Private Limited' to 'ENS Enterprises Limited' dated May 08, 2025.
At present, Company focuses on digital commerce, web/app dev, ONDC, cloud, and SaaS. With a vast portfolio of delivered projects, Company has established itself as a trusted technology partner for a wide range of corporates, SMEs, and government-backed initiatives. It operates at the point of e-commerce, digital engineering, and cloud technologies, offering a range of solutions that cover online commerce platforms, ONDC integrations, software development, mobile applications, cloud and DevOps, and digital marketing. It has developed proprietary SaaS products, which provide recurring subscription-based revenues.
In 2022, Company was empanelled as a Technology Service Provider (TSP) for the Government of India's ONDC (Open Network for Digital Commerce) initiative, establishing it as an early mover in a transformative e-commerce ecosystem. Company has implemented IT integrations for large reputed enterprises to deliver mission-critical digital commerce solutions.
Company has filed a Draft Prospectus with SEBI and is planning the issuance of 36,02,400 equity shares of Rs 10 each through Fresh Issue by way of IPO.
ENS Enterprises Ltd IPO will close on 18 Aug 2026.
- Experienced Management Expertise.
- Established Relationships with Client Base.
- Recognized Technology Service Provider (TSP) for ONDC.
- Diverse Digital Commerce Portfolio.
- Skilled and Multi-Disciplinary Workforce.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Manish Kumar Srivastava | 2494440 | 24.96 | 2494440 | 18.35 |
| 2 | Avinash Kumar Singh | 2498126 | 25 | 2498126 | 18.38 |
| 3 | Anupam Kumar Srivastava | 2492595 | 24.94 | 2492595 | 18.33 |
| 4 | Adhishree Srivastava | 3690 | 0.04 | 3690 | 0.03 |
| 5 | Sheetal Chauhan | 5535 | 0.06 | 5535 | 0.04 |
| 6 | Ruchika Kumari | 4 | --- | 4 | --- |
- Substantial portion of the company's revenues has been dependent on few customers. Further the company does not have any long-term commitments from customers and any failures to continue its existing arrangements or loss of any one or more of the company's major clients would adversely affect its business and results of operations.
- There have been certain instances of Delays in Filing with Registrar of Companies, non-filing, or partial compliance with the requirements of certain statutory authorities and applicable regulatory provisions.
- There are outstanding litigation proceedings involving the Company, its Promoters, an adverse outcome in which, may have an adverse impact on the company's reputation, business, financial condition, results of operations and cash flows.
- There are certain instances of delays in payment of statutory dues. Any delay in payment of statutory dues or non-payment of statutory dues in dispute may attract financial penalties from the respective government authorities, which may have an adverse impact on the company's financial condition and cash flows.
- The company has experienced negative cash flows and any negative cash flows in the future could adversely affect its financial conditions and results of operations.
- The company's currently does not hold any registered Intellectual Property Rights in its name, and this may affect the company's ability to obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
- Anupam Kumar Srivastava, one of the company's Promoters and a significant shareholder, has resigned from the office of Whole-Time Director of the Company. Any adverse impact arising from his cessation from management may affect its business operations and future growth prospects.
- The company's Promoters has extended their personal guarantees with respect to various loan facilities availed by the Company. Revocation of any or all of these personal guarantees may adversely affect its business operations and financial condition.
- Registered Office of the Company is located on rental premises. If the company is unable to renew such rent agreements or relocate on commercially suitable terms, it may have a material adverse effect on its business, results of operations and financial condition.
- If the company is unable to collect its receivables from, or bill the company's unbilled services to, its clients, the company's results of operations and cash flows could be materially adversely affected.
- The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
- Relevant copies of Experience Certificates of the company's Non- Executive-Independent Directors are not traceable.
- The company's global operations expose it to significant legal, regulatory, and market risks, which could adversely affect its business and financial condition.
- After the conversion of the Company into public limited, the company is required to update the name of its company in some of the statutory approvals, certificates, licenses and registrations due to the change of Status of the Company.
- Changes in Statutory Auditors.
- The company's insurance coverage may not be adequate to protect it against all potential losses to which the company may be subject and this may have a material effect on its business and financial condition.
- The Company's success is highly dependent on its ability to attract, train, motivate and retain skilled IT professionals, and any failure to do so may adversely affect the company's operations, financial performance and growth prospects.
- If the company is unable to manage its growth effectively and further expand into new markets the company's business, future financial performance and results of operations could be materially and adversely affected.
- The company's software products may be susceptible to issues arising from coding errors, configuration faults, or other technical defects, which could result in significant costs for the company, delays in revenue generation, and potential exposure to legal proceedings.
- The company relies on third-party data centers and cloud computing providers, and any interruption or delay in service from these facilities could impair the delivery of its products and adversely impact the company's business and results of operations.
- The company's business is operating under various laws which requires it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business and its inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for the company's business operations could materially and adversely affect its business, prospects, results of operations and financial condition.
- Any IT system failures or lapses on part of any of the company's employees may lead to operational interruption, liabilities or reputational harm.
- The company is dependent on its skills and ability to customize software products as per the demands and requirements of the customer based on latest technology. If the company is not able to enhance its skills, experience and deliverables in response to evolving industry requirements, the company's operating results may be negatively affected.
- The company may has issued Equity Shares at a price below the proposed issue price during the past 1 year prior to the date of filing the Red Herring Prospectus.
- The company's incorporate third-party open-source software into its customer deliverables and the company's failure to comply with the terms of the underlying open-source software licenses could adversely impact the company's customers and create potential liability on it.
- Cyber risk and the failures to maintain the integrity of the company's operational or security systems or infrastructure, or those of its customers with which the company's conduct business, could have a material adverse effect on its business, results of operations, financial condition and cash flows.
- The company's lenders has charge over its movable properties in respect of finance availed by it.
- The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further the company has not identified any alternate source of financing the Objects of the Issue. Any shortfall in raising/ meeting the same could adversely affect its growth plans, business operations and financial condition.
- The company has not yet placed orders in relation to the capital expenditure to be incurred for the proposed purchase of equipment's. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment in a timely manner, or at all, the same may have adverse effects on its operational and financial performance.
- Interruptions or performance problems associated with the company's technology and infrastructure may harm its business and results of operations.
- In execution of the company's projects, its collects information and data which are highly sensitive with regard to maintenance of secrecy of the projects and its data and information. Any failures on the company's part to maintain secrecy of its projects, will have an adverse effect on the company's results of operations and financial condition.
- The company may become liable to its customers and lose customers if the company has defects or disruptions in its service or if the company provides poor service.
- The Objects of the Issue for which funds are being raised, are based on the company's management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at the company's discretion, based on the parameters as mentioned in the chapter titled "Objects of the Issue".
- The company's success depends largely upon the services of its Directors, Promoters, Key Managerial Personnel, Senior Management Personnel and the company's ability to attract and retain them. Demand for Key Managerial Personnel in the industry is intense and the company's inability to attract and retain Key Managerial Personnel may affect the operations of the Company.
- The company's lenders has imposed certain restrictive conditions on it under its financing arrangements. The company's inability to meet its obligations, including financial and other covenants under the company's debt financing arrangements could adversely affect its business, financial condition, results of operations and cash flows.
- The company's failure to adapt to technological developments or industry trends could affect the performance and features of its products and services and reduce the company's attractiveness to its customers.
- The company's ability to pay dividends in the future will depends on its earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of the company's financing arrangements.
- Any further issuance of Equity Shares by the Company or sales of Equity Shares by any significant shareholders may adversely affect the trading price of the Equity Shares.
- The average cost of acquisition of Equity shares by the company's Promoters is lower than the Issue price.
- Orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on the company's business, financial condition and results of operations.
- The implementation process of solutions and services being provided by the Company to clients may in some cases be time consuming, and any failures to satisfy its clients or perform as desired could harm the company's business, results of operations, and financial condition.
- Exchange rate fluctuations may adversely affect the company's results of operations as its revenues is denominated in foreign currencies.
- Changing laws, rules and regulations and legal uncertainties, including adverse application of corporate and tax laws, may adversely affect the company's business, results of operations, financial condition, and prospectus.
- The determination of the Price Band is based on various factors and assumptions, and the Issue Price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The company's client's proprietary rights may be misappropriated by its employees in violation of applicable confidentiality and non-disclosure agreements and as a result, cause it to breach its contractual obligations in relation to such proprietary rights.
- If the company fails to maintain an effective system of internal controls, its may not be able to successfully manage, or accurately report, the company's financial risks.
- The continuing effect of the COVID-19 pandemic on the company's business, results of operations and financial condition is highly uncertain and cannot be predicted.
- If the company is unable to source business opportunities effectively, its may not achieve the company's financial objectives.
- The company's Promoters and Promoter Group will continue to retain significant control in the Company, which will allow them to influence the outcome of matters submitted to shareholders for approval.
- The company's majority of directors does not possess experience of any listed company.
- The company is subject to anti-bribery, anti-corruption and sanctions laws and regulations and a failures to comply with such laws and regulations could have an adverse effect on the company's business, reputation, financial condition, results of operations, investor confidence and the trading price of its Equity Shares.
- There is no guarantee that the Equity Shares will be listed on the SME Platform of BSE Limited in a timely manner, or at all.
The Issue type of ENS Enterprises Ltd is Book Building - SME.
The minimum application for shares of ENS Enterprises Ltd is 2400.
The total shares issue of ENS Enterprises Ltd is 3602400.
Initial public issue of upto 36,02,400 equity shares of face value of Rs.10/- each of ENS Enterprises Limited for cash at a issue price of Rs. 92 per equity share (including a premium of Rs. 82 per equity share) ("Issue Price") aggregating up to Rs. 33.14 Crores comprising of fresh issue of up to 36,02,400 equity shares aggregating to Rs. 33.14 Crores ("Fresh Issue") ("the Issue") and upto 1,81,200 equity shares at an issue price of Rs. 92 per share aggregating to Rs. 1.67 Crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. Issue of up to 34,21,200 equity shares of face value of Rs. 10/- each at an issue price of Rs. 92 per equity share aggregating to Rs. 31.48 Crores ("Net Issue"). The issue and the net issue will constitute 26.50% and 25.17% of the post-issue paid-up equity share capital of the company.
The face value of the equity shares is Rs.10/- each.
Price Band: Rs. 92 per equity share of face value of Rs. 10/- each.
The floor price is 9.2 times the face value of the equity shares.
Bids can be made for a minimum of 2,400 equity shares and in multiples of 1,200 equity shares thereafter.