ENS Enterprises IPO Day 2 Live: NII leads with 0.72x - Check analysts view and more
ENS Enterprises IPO is subscribed 0.19x on Day 2, with NII (bHNI) leading at 0.72x after a 163.6% intraday jump. QIBs remain at 0.00x. The company reported ₹51.37 crore revenue in FY26. IPO closes on August 18, 2026.
*this image is generated using AI for illustrative purposes only.
ENS Enterprises IPO saw a notable uptick in investor interest on its second day of subscription, August 14, 2026. The issue is now subscribed 0.19x overall, with Non-Institutional Buyers (bHNI) emerging as the clear leader at 0.72x. While Qualified Institutional Buyers (QIBs) have yet to participate, retail investors have increased their participation to 0.1x. The IPO remains open until August 18, 2026.
Subscription Status
The subscription momentum is currently driven by the bHNI segment, which accounts for the majority of the bids received so far. The sHNI category follows with 0.58x. Institutional investors (QIBs) have not placed any bids as of the latest update on August 14.
| Category | Subscription Multiple |
|---|---|
| QIB | 0.00x |
| NII (bHNI) | 0.72x |
| NII (sHNI) | 0.58x |
| Retail | 0.10x |
| Total | 0.19x |
Intra-day Timeline (August 14, 2026)
The bid momentum picked up significantly in the early hours of trading.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 05:45 | 0.00x | 0.22x | 0.06x | 0.09x |
| 06:45 | 0.00x | 0.58x | 0.10x | 0.19x |
Subscription Progression
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 13-08-2026 | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Day 2 | 14-08-2026 | 0.00x | 0.58x | 0.72x | 0.10x | 0.19x |
About the Company
ENS Enterprises Limited is an ISO 27001:2022 & ISO 9001:2015 certified technology company established in 2016 and headquartered in Uttar Pradesh. It provides end-to-end digital commerce enablement and software solutions to clients across 12+ countries. The firm operates at the intersection of e-commerce, digital engineering, and cloud technologies, offering services including ONDC integrations, mobile applications, and SaaS products. Key management includes CEO Avinash Kumar Singh and CFO Manish Kumar Srivastava.
Financial Highlights
The company has shown significant revenue growth over the past three years, driven by its expanding digital commerce portfolio.
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations (₹ crores) | 10.11 | 28.33 | 51.37 |
| Total Profit (PAT) (₹ crores) | 0.90 | 3.70 | 8.40 |
| Total Equity (₹ crores) | 1.90 | 10.04 | 18.44 |
Revenue from operations grew from ₹10.11 crore in FY24 to ₹51.37 crore in FY26. Similarly, total profit increased from ₹0.90 crore to ₹8.40 crore over the same period.
Objects of the Issue
The proceeds from the IPO will be utilized for the following purposes:
- Investment related to enhancement, maintenance and upgrading of existing products through manpower hiring: ₹17.02 crores
- Investment in upgradation of IT Infrastructure: ₹6.75 crores
- Repayment of Borrowings: ₹1.20 crores
- General Corporate Purposes: Balance proceeds
Risk Factors
- Customer Concentration Risk: Top 10 customers contributed 69.17% of revenues in FY26, with no long-term commitments.
- Regulatory Compliance Deficiencies: Significant delays in filing statutory forms with the Registrar of Companies, some exceeding 3,400 days.
- Negative Cash Flow from Operations: Reported negative operating cash flows of ₹11,003.60 thousands in FY26.
Offer Details
- Price Band: ₹87.00000 - ₹92.00000
- Issue Size: 208800 - 500000
- Min Bid Qty: 2400
- IPO Open Date: 2026-08-14
- IPO Close Date: 2026-08-18
Will the complete absence of Qualified Institutional Buyers (QIBs) signal a lack of confidence in ENS Enterprises' governance, potentially leading to listing at a discount despite retail interest?
How might the company's significant regulatory filing delays impact investor sentiment and the final subscription multiple in the remaining days of the IPO window?
Given the high customer concentration risk with the top 10 clients contributing nearly 70% of revenue, what strategies will ENS Enterprises employ to diversify its client base post-IPO?
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