ENS Enterprises IPO

SME • BSE SME • Fresh capital only

LISTEDSMEBSE SME

ENS Enterprises

Price band

₹87 – ₹92

Lot size

1200 shares

Min investment

₹1,10,400

Issue size

₹33.14 Cr

About the company

ENS Enterprises Limited was started in January 2016. It is a technology company that provides digital commerce and software solutions. It is certified under ISO 27001:2022 for information security and ISO 9001:2015 for quality. Its head office is in Uttar Pradesh and it serves clients in more than 12 countries. The company offers e-commerce platforms, ONDC integrations, software and mobile app development, cloud and DevOps work, digital marketing, blockchain solutions and technology consulting. It also builds its own SaaS products which earn regular subscription income. Its business model is a mix of two things. One part is project work billed as per the job, and the other part is recurring income from SaaS subscriptions and support contracts, which gives more predictable cash flow. The company has been empanelled as a Technology Service Provider for the Government of India ONDC programme since 2022. It also spends on research in areas such as AI and machine learning, generative AI, predictive analytics, IoT, blockchain and cloud architecture. As on 30 June 2026 it had 100 employees, of which 92 were in engineering and technology.

ENS Enterprises Limited is a technology company providing digital commerce and software solutions to clients in over 12 countries. It has been an empanelled Technology Service Provider for the Government of India ONDC programme since 2022 and also sells its own SaaS products.

IPO details

Issue price: ₹92
Price band: ₹87 – ₹92
Face value: ₹10
Lot size: 1200
Min investment: ₹1,10,400
Issue size: ₹33.14 Cr
Sale type: Fresh capital only
Listing on: BSE SME
BSE scrip code: 7885
NSE symbol: ENS.BO

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	1,200	₹1,10,400
Retail (Max)	1	1,200	₹1,10,400
HNI (Min)	2	2,400	₹2,20,800

Investor reservation

CATEGORY	RESERVED
QIB	17,10,000 shares (49.98% of the Offer)
NII	5,13,600 shares (15.01% of the Offer)
Retail	11,97,600 shares (35.01% of the Offer)

Objects of the issue

1Investment related to enhancement, maintenance and upgrading of existing products through manpower hiring17.02

2Investment in upgradation of IT Infrastructure6.75

3Repayment of Borrowings1.20

4General Corporate Purposes

Financials

Rs. Crore • restated

METRIC	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	32.46	20.24	3.35
Total Income	51.77	28.62	10.12
Profit After Tax	8.40	3.70	0.90
EBITDA	11.71	5.48	1.38
NET Worth	18.44	10.04	1.90
Reserves and Surplus	8.45	7.33	1.87
Total Borrowing	3.97

Key performance indicators

P/E Ratio

14.89

EPS (₹)

6.18

RoCE

84.51%

RoNW

62.01%

PAT Margin

13.07%

✓ Strengths

• Sales have grown very fast, from Rs 10.12 crore in FY2024 to Rs 28.62 crore in FY2025 and Rs 51.77 crore in FY2026.

• Profit after tax grew from Rs 0.90 crore in FY2024 to Rs 3.70 crore in FY2025 and Rs 8.40 crore in FY2026.

• The company carries very little debt. Total borrowing was Rs 3.97 crore against a net worth of Rs 18.44 crore as on 31 March 2026.

• EBITDA improved from Rs 1.38 crore in FY2024 to Rs 11.71 crore in FY2026.

• It is an empanelled Technology Service Provider for the Government of India ONDC programme, which is a recognised position in a growing area.

• The SaaS and support part of the business gives recurring income, which is steadier than one time project work.

• It serves clients in more than 12 countries, so it is not dependent on the Indian market alone.

• The team is technology heavy, with 92 of its 100 employees working in engineering and technology.

⚠ Risks

• The growth is from a very small base and is unusually fast. Income went up five times in two years, from Rs 10.12 crore to Rs 51.77 crore, and such a pace is hard to maintain.

• The largest part of the issue money, Rs 17.02 crore, will be spent on hiring manpower. Salary is a recurring cost and not an asset, so this money will not create anything that can be sold later.

• IT services companies of this size usually depend on a few clients. Losing one large client can affect a big share of revenue.

• The company is small with only 100 employees, and in IT services people can leave for better offers, taking client knowledge with them.

• A good part of the story rests on ONDC, which is still a developing government initiative, and its future volume is not certain.

• Promoter holding falls from 75% to 55.13% after the issue, which is not far above the halfway mark.

• The registrar for this issue is Abhipra Capital Limited, whose allotment portal is not integrated on our site, so allotment will have to be checked on the registrar website directly.

• This is an SME issue. One lot is 1,200 shares, which is about Rs 1.10 lakh at the upper band of Rs 92, and SME shares usually trade in low volume after listing.

Promoters & holding

Manish Kumar Srivastava, Avinash Kumar Singh and Anupam Kumar Srivastava

Pre-issue promoter holding

75%

Post-issue promoter holding

55.13%

Data refreshed 07 Nov 2026, 05:05 pm IST. GMP is unofficial market sentiment, not investment advice.