Safe Enterprises Retail Fixtures IPO: Price, Overview, And GMP

Safe Enterprises Retail Fixtures IPO- Complete Overview

Safe Enterprises Retail Fixtures IPO under the SME IPO category is a book build issue of Rs. 161.13 Cr by Safe Enterprises Retail Fixtures Limited. The company was established in 1976 and designs, manufactures, supplies, and installs shop fittings and retail fixtures, offering tailored solutions to the retail sectors, including fashion, electronics, and department stores.

The company offers retail solutions in display, placement, storage, safety, and Shop fitting services from design through to installation to suit the specific requirements of the clients' store.

The company offers across a variety of retail categories like fashion, electronics, grocery, and luxury. Some of its clients are prominent Indian chains and hypermarkets, including-

Zudio & Westside - Fittings for fashion.

Godrej Nature’s Basket - Bespoke shelving for gourmet outlets.

Reliance Retail & Future Group - Displays for hypermarkets.

 

The business offers the products and services below.

Gondola Shelves - Support and structure systems for the supermarket.

Checkstands - Ergonomic designs to enhance the shopping experience.

Display Racks & Stands - Customized for fashion, Electronics, and FMCG.

Bust Forms & Display Heads - A contemporary look for shop displays. and branding.

Storage & Backroom Fixtures - High capacity shelving for store rooms.

Custom Design Fixture - Specialized designs that combine form and function.

Creative Design - Unique style, trendy design that adapts to the fashion trend of each season.

The company operates three production plants, two in Mumbai and one in Thane, Maharashtra. The company also has two franchisees in Navi Mumbai and Hyderabad and two distributors in Dubai and Kansas City. 

 

 

Safe Enterprises Retail Fixtures IPO Overview

The Safe Enterprises Retail Fixtures IPO date is on 20 June 2025, and its initial public offering will end on 24 June 2025. 

The Rs. 161.13 crore new SME IPO comprises a wholly fresh issue of 116.76 lac Shares. This upcoming IPO is available for subscription from June 20 to June 24, 2025. Safe Enterprises Retail Fixtures IPO price is Rs. 131 to Rs. 138 for each Share. 

The expected Safe Enterprises Retail Fixtures IPO listing date is Friday, Jun 27, 2025, and listing at the NSE and SME.

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Company Financial

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024
Total Assets	101.94	54.40
Total Revenue	139.73	101.38
PAT	39.19	23.09
Net Worth	72.08	28.99
Reserves & Surplus	54.92	4.36
Borrowings	-	-

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024
Net Cash Flow Operating Activities	3,105.37	1,354.18
Net Cash Flow Investing Activities	-1,046.22	-677.82
Net Cash Flow Financing Activities	-751.15	-1,105.86

 

Revenue Bifurcation

Geography-wise Revenue Bifurcation

(Source: RHP)

 

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Financing the necessary capital expenditures for the establishment of a new industrial facility.

• Investing in a subsidiary to finance its capital expenditure needs for the installation of new equipment and plant.

• To satisfy the company's working capital needs.

• Investing in Safe Enterprises Retail Technologies Private Limited, a subsidiary, to satisfy working capital needs.

• General corporate purposes.
  
  

Click to check the IPO application status.

Peers of Safe Enterprises Retail Fixtures Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Naman In-Store (India)	10	5.34	21.31

 

 

Evaluation

The Safe Enterprises Retail Fixtures Limited IPO price is Rs. 131 to Rs. 138 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2025 with an EPS of Rs. 11.42 from the last year, the resulting P/E ratio is 12.08x.

Considering the weighted EPS of Rs. 8.54 for the last three years, the P/E ratio is 16.15x.

Explore Eppeltone Engineers IPO.

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is 21.31x.

Particulars	P/E Ratio (x)
Highest	21.31
Lowest	21.31
Average	21.31

In simple words, the P/E ratio of this IPO (12.08x), compared with the industry’s average P/E of 21.31x, has an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors when considered based on the average P/E ratio of the industry.

 

IPO's Strengths

• Own manufacturing capabilities.

• Established customer relationships that cross geographical borders.

• Senior Management with experience supporting the design and development team.

• Satisfied customers who have been loyal to a brand for many years.

 

IPO’s Weaknesses

• The company heavily depends on outsourced transportation facilities for raising and transporting goods. Any interruptions, whether due to transportation strikes, delays, or accidents could have a material adverse effect on its business.

• It is in a business characterized by a large number of competitors and relatively low barriers to entry. The company may not be able to retain or expand its market share if it faces competition from multi-location operators, competition with an aggressive pricing model, and an established customer base.

• Further accelerated declines in the value of its investments could have an adverse effect on the company's financial condition and overall performance. 

 

Safe Enterprises Retail Fixtures IPO GMP

Safe Enterprises Retail Fixtures IPO GMP is Rs. 0 as of 18 Jun 2025 while writing this information. Hence, its estimated listing price is Rs. 138.

IPO Timetable (Tentative)

The Safe Enterprises IPO date of opening is from Jun 20 to Jun 24, 2025, allotment on Jun 25, refund initiation on Jun 26, and listing on Jun 27, 2025.

Events	Date
IPO Opening Date	Jun 20, 2025
IPO Closing Date	Jun 24, 2025
IPO Allotment Date	Jun 25, 2025
Refund Initiation	Jun 26, 2025
IPO Listing Date	Jun 27, 2025

 

Safe Enterprises Retail Fixtures IPO Details 

The IPO with a Face Value of Rs. 5 per share offers a total issue size of 1,16,76,000 Shares (Rs. 161.13 Cr).

IPO Opening & Closing Date	20 Jun, 2025 to 24 Jun, 2025
Face Value	Rs. 5 per Share
Issue Price	Rs. 131 to Rs. 138 per Share.
Lot Size	1000 Shares
Issue Size	1,16,76,000 Shares (Rs. 161.13 Cr)
Offer for Sale	-
Fresh Issue	1,16,76,000 Shares (Rs. 161.13 Cr)
Listing at	NSE, SME
Issue Type	Book building Issue
Registrar	Maashitla Securities Private Limited

 

 

IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (1000 Shares) amounting to Rs. 1,38,000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (2000 Shares) amounting to Rs. 2,76,000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

IPO Reservation (% of Net Issue)

Institutional’s Portion	50%
Retail’s Portion	35%
Non-Institutional’s Portion	15%

 

Promoters And Management of Safe Enterprises Retail Fixtures Ltd.

• Saleem Shabbir Merchant

• Mikdad Saleem Merchant

• Huzefa Salim Merchant

• Munira Salimbhai Merchant.

Pre-Issue Promoter Shareholding	95.18%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• Hem Securities Limited.

 

 

Dividend Policy

The company has not paid a dividend in the last three years.

 

Conclusion

Safe Enterprises Retail Fixtures IPO presents a prospect for investors seeking growth in the retail infrastructure segment. The company offers a strong financial track record with existing clientele such as Reliance Retail and Zudio, along with definite plans for expansion. Some potential risks are mounting competition in the market and dependency on the logistics chain. 

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is for educational and information purposes only. Always discuss with your eligible financial advisor for investment-related decisions. 

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.