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ENS Enterprises

SME · BSE closed
Lists in 2 days · 21 Aug 2026
₹4
GMP* · 19 Aug, 06:20 pm
Price Band
₹87 – ₹92
Issue Size
₹33.14 Cr
1 lot at upper band
₹1,10,400
Lot Size
1,200
Open
14 Aug 2026
Close
18 Aug 2026
Allotment
—
Listing
21 Aug 2026

Scheduled dates

  1. Open
    14 Aug 2026
  2. Close
    18 Aug 2026
  3. Refund
    20 Aug 2026
  4. Demat credit
    20 Aug 2026
  5. Listing
    21 Aug 2026

GMP Trend*

Daily grey market premium (₹). Unofficial.

Latest GMP: ₹4 9 sessions

Subscription (times)

Latest per-category subscription · as of 18 Aug, 06:20 pm IST.

QIB 9.40x
NII 22.89x
BHNI 26.87x
SHNI 14.97x
RII 11.00x
Total 13.11x

About ENS Enterprises

ENS Enterprises Limited is an ISO 27001:2022 & ISO 9001:2015 certified technology company established in 2016 and headquartered in Uttar Pradesh, India. The company provides end-to-end digital commerce enablement and software solutions, serving clients across 12+ countries with over 140 professionals. The company operates at the intersection of e-commerce, digital engineering, and cloud technologies, offering solutions including online commerce platforms, ONDC integrations, software development, mobile applications, cloud and DevOps, and digital marketing. The company's business model balances project-based income with recurring revenues from SaaS products, subscriptions, and support retainerships.

www.ens.enterprises ↗

Strengths

  • Experienced Management Expertise
    The company is managed by qualified and experienced promoters with rich experience in the Information Technology sector, providing relevant expertise for managing business activities in digital commerce and IT services.
  • Established Relationships with Client Base
    The company benefits from a strong and diversified client base including leading enterprises in FMCG, telecom, and retail sectors, with proven ability to execute large-scale, mission-critical digital commerce projects while maintaining high client retention rates.
  • Recognized Technology Service Provider (TSP) for ONDC
    The company holds early-mover advantage as a recognized TSP for Open Network for Digital Commerce (ONDC), enhancing credibility and providing access to large-scale opportunities in SME digitization and government-linked projects.
  • Diverse Digital Commerce Portfolio
    The company offers a broad portfolio including e-commerce store development, ONDC integration, SaaS products, and digital marketing services, enabling it to serve B2B, B2C, D2C, and marketplace models while reducing reliance on any single segment.
  • Skilled and Multi-Disciplinary Workforce
    The company's workforce includes certified developers, designers, engineers, and strategists with expertise across global e-commerce platforms and cloud infrastructure, with significant proportion engaged in R&D focusing on AI/ML, predictive analytics, and emerging technologies.

Risk Factors

  • Customer Concentration Risk
    The company is heavily dependent on a few customers, with top 10 customers contributing 69.17%, 60.12% and 87.09% of revenues for FY2026, FY2025 and FY2024 respectively. The company has no long-term commitments from customers, making it vulnerable to order reductions, delays or cancellations from major clients.
  • Regulatory Compliance Deficiencies
    The company has experienced significant delays in filing statutory forms with the Registrar of Companies, with some delays exceeding 3,400 days. These compliance failures expose the company to potential penalties, regulatory actions, and reputational damage that could adversely affect operations and financial condition.
  • Negative Cash Flow from Operations
    The company reported negative operating cash flows of ₹11,003.60 thousands in FY2026, indicating potential liquidity challenges. This negative cash generation could adversely affect the company's ability to fund operations and growth initiatives.
  • Lack of Intellectual Property Protection
    The company currently holds no registered intellectual property rights and has only one pending trademark application. This absence of IP protection may affect the company's ability to protect proprietary rights and could result in competitive disadvantages or legal vulnerabilities.
  • Key Management Departure Risk
    Mr. Anupam Kumar Srivastava, a promoter and significant shareholder, resigned from his position as Whole-Time Director in December 2025. This management transition may disrupt operations, affect stakeholder confidence, and impact the company's strategic direction and execution capabilities.
  • Dependence on Personal Guarantees
    The company's loan facilities are secured by personal guarantees from promoters. Any revocation of these guarantees could force lenders to demand alternative security or immediate repayment of outstanding amounts totaling ₹39,654.05 thousands as of March 31, 2026, potentially hampering operations.

Objects of the Issue

  • Investment related to enhancement, maintenance and upgrading of existing products through manpower hiring
    The company intends to deploy funds for enhancement, maintenance and upgrading of existing products through manpower hiring. The company plans to expand its team by hiring additional professionals and technical experts under various departments to strengthen its human resource capabilities and meet evolving client requirements.
    17.02 crores
  • Investment in upgradation of IT Infrastructure
    The company proposes to invest in the procurement and deployment of advanced computing infrastructure and modern IT hardware. This investment includes hardware setup and advanced software tools to support growing operations, improve efficiency, and enhance service delivery capabilities.
    6.75 crores
  • Repayment of Borrowings
    The company proposes to utilize proceeds towards full or partial repayment or pre-payment of certain borrowings availed from lenders. This will help reduce outstanding indebtedness, debt servicing costs, and maintain a favorable debt to equity ratio while enabling utilization of internal accruals for business growth.
    1.20 crores
  • General Corporate Purposes
    The company intends to deploy the balance proceeds towards general corporate purposes to drive business growth. This includes meeting operating expenses, strengthening business development and marketing capabilities, and meeting exigencies that the company may not foresee in the ordinary course of business.

Financial Snapshot

Annual values as reported in the offer document.

Year endRevenueRev. growthProfitProfit growthAssetsEquityOperating cash flow
31/03/202651.77+80.9%8.40+127.0%32.4618.44-1.10
31/03/202528.62+182.8%3.70+311.1%20.2410.042.50
31/03/202410.12—0.90—3.351.900.11
Units: crores

Issue Details

Face Value
₹10
P/E
14.90
ROCE
115.00%
Shares / Lot
1,200
Minimum Bid
2,400 shares
Refund
20 Aug 2026
Credit to Demat
20 Aug 2026
ISIN
INE23ER01017
CIN
U74120UP2016PLC075577
Registrar
Abhipra Capital Limited
Lead Managers
Corporate Makers Capital Ltd.
Registered Office
B-16, 2nd Floor, Sector – 63, NOIDA, Gautam Buddha Nagar, Uttar Pradesh – 201301
RHP ↗DRHP ↗

Management

Manish Kumar SrivastavaCFO
Avinash Kumar SinghCEO
Amita AgarwalDirector

* Grey Market Premium is unofficial, indicative data from unregulated grey-market dealers. It is not published by NSE, BSE, SEBI or the issuer, and is not a forecast of the listing price.