Safe Enterprises Retail Fixtures
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 20 Jun 2025 – 24 Jun 2025
- Listing date
- 27 Jun 2025
- Face value
- ₹5 per share
- Issue price
- ₹138 per share
- Lot size
- 1,000 shares
- Listing at
- NSE
- Total issue size
- ₹170 Cr
- Market cap at offer price
- ₹635 Cr
- Promoter holding
- 95.18% → 70.07% pre-issue → post-issue
- ISIN
- INE17D601016
- Registrar
- Maashitla Securities Pvt.Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- Plot No.D-372, TTC MIDC Industrial Area, MIDC Kukshet Village, Sanpada, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 35,01,000 | — | — |
| Market maker | 6,24,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹138
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,38,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,76,000 |
| S-HNI (max) | 7 | 7,000 | ₹9,66,000 |
| B-HNI (min) | 8 | 8,000 | ₹11,04,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 11.42 | 8.52 |
| P/E (×) | 12.08 | 16.20 |
| Price to book (×) | 6.57 | — |
| Market cap | — | ₹635 Cr |
Key performance indicators
- Return on net worth
- 54.37%
- ROCE
- 69.10%
- PAT margin
- 28.33%
- EBITDA margin
- 19.79%
- NAV per share
- ₹21.01
- Price to book
- 6.57
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Safe Enterprises Retail Fixtures
Safe Enterprises Retail Fixtures Limited was incorporated on July 21, 2024, by converting a partnership firm (M/s Safe Enterprises) established in 1976 into a public limited company. The company is engaged in designing, manufacturing, supplying and installation of shop fittings and retail fixtures, offering customized in-store solutions across multiple retail segments such as fashion & apparels, electronics, and departmental stores. The company acts as a merchandising solution provider addressing challenges in the rapidly evolving retail industry for display, placements, storage and safety of products. It provides shop fitting solutions from conceptual design and prototyping to manufacturing and installation, tailored to meet specific customer needs. The company also offers innovative modular and electrified shop fittings that integrate with digital technologies such as LED lighting, digital screens, and display stands. Operating from three manufacturing units in the Thane and Navi Mumbai region of Maharashtra, the company has established relationships with customers across various geographical locations and maintains ISO 9001:2015 and ISO-10001:2018 certifications.
Company Analysis
from RHPSafe Enterprises Retail Fixtures Limited designs, manufactures, supplies and installs customized shop fittings and retail fixtures across fashion, electronics, and departmental store segments.
Safe Enterprises Retail Fixtures Limited was incorporated on July 21, 2024, by converting a partnership firm (M/s Safe Enterprises) established in 1976 into a public limited company. The company is engaged in designing, manufacturing, supplying and installation of shop fittings and retail fixtures, offering customized in-store solutions across multiple retail segments such as fashion & apparels, electronics, and departmental stores. The company acts as a merchandising solution provider addressing challenges in the rapidly evolving retail industry for display, placements, storage and safety of products. It provides shop fitting solutions from conceptual design and prototyping to manufacturing and installation, tailored to meet specific customer needs. The company also offers innovative modular and electrified shop fittings that integrate with digital technologies such as LED lighting, digital screens, and display stands. Operating from three manufacturing units in the Thane and Navi Mumbai region of Maharashtra, the company has established relationships with customers across various geographical locations and maintains ISO 9001:2015 and ISO-10001:2018 certifications.
Objects of the Issue
- Funding the Capital Expenditure requirements towards setting up of a new manufacturing unit ₹6,588.59 lakhs p.95
- Investment in our Subsidiary, Safe Enterprises Retail Technologies Private Limited for financing its capital expenditure requirements in relation towards installation of additional plant and machinery ₹699.02 lakhs p.95
- To Meet Working Capital Requirements of our Company ₹3,000.00 lakhs p.95
- Investment in our subsidiary Safe Enterprises Retail Technologies Private Limited to meet working capital requirements ₹1,000.00 lakhs p.95
- General Corporate Purpose [●] p.95
Issue Structure
- Total Issue
- up to ₹[●] lakhs
- Fresh Issue
- up to 1,23,00,000 Equity Shares of face value ₹5 each at price ₹[●] per share aggregating up to ₹[●] lakhs
- Offer for Sale
- Nil
- Price Band
- Floor Price: ₹[●]; Cap Price: ₹[●]
- Lot Size
- [●] equity shares
- Face Value
- ₹5 per Equity Share
Business Model
The company earns revenue primarily from the design, manufacturing, supply and installation of customized shop fittings and retail fixtures. Revenue is generated on a project basis, with customers typically providing specifications and design requirements. The company also generates revenue from its subsidiary Safe Enterprises Retail Technologies Private Limited, which focuses on innovative electrified shop fittings solutions.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Saleem Shabbir Merchant | Promoter | 23.78% | 17.50% |
| Mikdad Saleem Merchant | Promoter | 23.78% | 17.50% |
| Huzefa Salim Merchant | Promoter | 23.78% | 17.50% |
| Munira Salim Merchant | Promoter | 23.78% | 17.50% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.