June 17, 2025
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What is the last grey market premium of Safe Enterprises IPO?
Listing Review: Will update on listing.
Subscription status of Safe Enterprises IPO
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Safe Enterprises IPO Price Rs. 34 Lot 4000 shares, Rs.14.69 Crore |
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| QIB | NII x | RII x | Total x | Applications |
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Samay Project Services IPO Allotment Link:
What is the business of Safe Enterprises?
Safe Enterprises Retail Fixtures Ltd. is a one-stop destination for cutting-edge shop fittings and retail display solutions, transforming retail spaces across India and beyond. From concept to installation, we design, manufacture, supply, and install retail fixtures that are as functional as they are visually compelling.
Specializing in tailored merchandising solutions, we help retailers solve critical challenges in display, product placement, storage, and safety. Whether you’re outfitting a sleek fashion boutique, a bustling hypermarket, or an upscale electronics store, our expert team ensures your space works as hard as you do.
Trusted by India’s Leading Retailers
Our versatile portfolio spans multiple retail sectors—fashion, electronics, groceries, and luxury. Some of our marquee collaborations include:
- Zudio & Westside – Trend-forward fashion fixtures that merge form with function
- Godrej Nature’s Basket – Customized gourmet shelving with premium finishes
- Reliance Retail & Future Group – Scalable installation solutions for large-format hypermarkets
What We Offer
We combine engineering precision with design flair to deliver a full range of fixtures:
- Gondola Shelving: Modular, durable, and perfect for supermarkets
- Checkout Counters: Ergonomically designed for efficiency and customer flow
- Display Racks & Stands: Fully customizable for fashion, electronics, and FMCG brands
- Mannequins & Visual Merchandising Displays: Contemporary and brand-aligned aesthetic elements
- Storage & Backroom Fixtures: Heavy-duty shelving systems for seamless inventory management
- Custom Fixture Design: Unique, client-specific solutions that balance beauty with practicality
- Innovative Retail Concepts: Agile designs built to meet the demands of modern retail
Our Footprint
- Manufacturing: Three state-of-the-art units – two in Mumbai and one in Thane, Maharashtra
- Franchisees: Strategically located in Navi Mumbai and Hyderabad
- Distributors: International presence with partners in Dubai and Kansas City
- Sales Reach: Presence in 25+ Indian states and union territories, with strongholds in Maharashtra, Karnataka, and Gujarat
Design-Driven, Detail-Oriented
With a skilled in-house team of 15 designers (as of October 31, 2024), we combine creativity and technical know-how to bring retail visions to life.
Get more information about the company @
Safe Enterprises IPO Details
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Sector: |
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| IPO opens on | 20 June 2025 |
| IPO closes on | 24 June 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 116,76,000 Shares / Rs 161.13 Crore |
| * Fresh Issue | 11676000 Shares / Rs 161.13 Crore |
| * Offer for Sale – | – |
| Market Maker Portion | 624,000 Shares |
| Net offer to Public | 11052000 Shares Rs.152.52 Crores |
| Face Value per share | Rs. 5 |
| Price Band | Rs. 131-138 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1000 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (50%) | 5526000 | 76.26 |
| HNI (15%) | 1657800 | 22.88 |
| RII (35%) | 3868200 | 53.38 |
| Total Shares | 110,52000 | 152.52 |
| Retail portion will be oversubscribed by |
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| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 1000 Shares | Rs.138000 |
| Min HNI Application | 2000 Shares | Rs.276000 |
Who are the Promoters of Safe Enterprises?
The promoters of the company are Saleem Shabbir Merchant, Mikdad Saleem Merchant, Huzefa Salim Merchant and Munira Salimbhai Merchant.
What are the Objects of Safe Enterprises IPO?
*Funding the Capital Expenditure requirements towards setting up of a new manufacturing unit. Rs.65.89 Cr.
*Investment in the Subsidiary, Safe Enterprises Retail Technologies Private Limited for financing its capital expenditure requirements in relation towards installation of additional plant and machinery Rs. 6.99 Cr.
*To Meet Working Capital Requirements of the Company Rs. 30.00 Cr.
*Investment in the subsidiary Safe Enterprises Retail Technologies Private Limited to meet working capital requirements Rs. 10.00 Cr.
*General Corporate purposes.
Tentative timetable |
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| IPO opens on | 20 June 2025 |
| IPO Closes on | 24 June 2025 |
| IPO Allotment on | 25 June 2025 |
| Refund Initiation | 26 June 2025 |
| Credit of Shares | 26 June 2025 |
| Listing on | 27 June 2025 |
| Registered Office of the Company Safe Enterprises Retail Fixtures Limited Plot No. D-372 TTC MIDC Industrial Area, MIDC Kukshet Village, Sanpada, Thane, Maharashtra, 400703 |
| The Lead Manager of this IPO Hem Securities ltd |
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Who is the Registrar to IPO? |
Safe Enterprises IPO GMP grey market premium, review, Subscription, allotment, listing estimate
Safe Enterprises Financials
| Period Ended | 30-Mar-25 | 31-Mar-24 |
| Assets | 101.94 | 54.4 |
| Revenue | 139.73 | 101.38 |
| Profit After Tax | 39.19 | 23.09 |
| Net Worth | 72.08 | 28.99 |
| Reserves and Surplus | 54.92 | 4.36 |
| Total Borrowing | 0 | 0 |
| Amount in Rs. Crore | ||
Performance Indicators
| KPI | Values |
| ROE | 77.54% |
| ROCE | 69.10% |
| RoNW | 54.37% |
| PAT Margin | 28.33 |
| Price to Book Value | 6.57 |
| EPS | Rs.11.42 |
| PE Ratio | 12.08 |
How Safe Enterprises IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| Safe Enterprises Retail Fixtures | 12.08 | 54.37 |
| Naman In-Store (India) | 21.31 | 7.91 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Safe Enterprises IPO Review by Paresh Gordhandas, CA & Research Analyst.
Will provide our guidance soon
+ from fundamental angle:
+ from grey market angle:
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