Safe Enterprises Retail Fixtures IPO - Day 3 Subscription at 14.70 Times

Safe Enterprises Retail Fixtures' initial public offering (IPO) has demonstrated solid investor demand through its three-day subscription period, with Safe Enterprises Retail Fixtures' stock price set at ₹138 per share and Safe Enterprises Retail Fixtures' share price expected to reflect good market reception. The ₹169.74 crore IPO has witnessed steady progress, with subscription rates opening at 0.60 times on day one, improving to 2.09 times on day two, and reaching a solid 14.70 times by 5:15:01 PM on the final day, demonstrating good investor interest in this retail fixtures company.

Safe Enterprises Retail Fixtures IPO qualified institutional buyers segment leads with excellent 34.31 times subscription, while non-institutional investors demonstrate solid participation at 12.51 times and retail investors show modest interest at 4.44 times, reflecting good investor confidence in this company with three manufacturing units including two in Mumbai and one in Thane Maharashtra, has two franchisees in Navi Mumbai and Hyderabad as well as two distributors in Dubai and Kansas City, sells products in over 25 states and union territories with most revenue from Maharashtra followed by Karnataka and Gujarat, serves major Indian chains and hypermarkets including Zudio & Westside for fashion fixtures, Godrej Nature's Basket for custom shelving, Reliance Retail & Future Group for hypermarket installations, has 15 employees in design team as of October 2024, promoters Saleem Shabbir Merchant, Mikdad Saleem Merchant, Huzefa Salim Merchant and Munira Salimbhai Merchant holding 95.18% pre-issue and 70.07% post-issue shareholding, raised ₹48.31 crores from anchor investors.

Safe Enterprises Retail Fixtures IPO subscription reaching solid 14.70 times on the final day, led by QIB (34.31x), NII (12.51x), and Retail (4.44x). Total applications reached 19,818.

Subscription Status of Safe Enterprises Retail Fixtures IPO:

Here are the subscription details for Safe Enterprises Retail Fixtures IPO as of Day 3 (June 24, 2025, 5:15:01 PM):

Key Highlights - Day 3:

• Overall subscription reaching solid 14.70 times, a significant surge from day two's 2.09 times
• QIB segment leading with excellent demand at 34.31 times, a remarkable jump from day two's 5.59 times
• NII segment showing solid participation at 12.51 times, a substantial increase from day two's 0.32 times
• Retail segment demonstrating modest interest at 4.44 times, improvement from day two's 0.84 times
• Total applications reached 19,818, indicating good investor participation
• The cumulative bid amount reached ₹1,658.68 crores against the issue size of ₹169.74 crores

Safe Enterprises Retail Fixtures IPO - Day 2 Subscription at 2.09 Times

Key Highlights - Day 2:

• Overall subscription improving to 2.09 times, progress from day one's 0.60 times
• QIB segment showing good progress at 5.59 times, improvement from day one's 1.56 times
• Retail segment showing modest improvement at 0.84 times, an increase from day one's 0.13 times
• NII segment showing slight decline at 0.32 times, a decrease from day one's 0.44 times
• Second day, demonstrating building institutional confidence
• QIB is leading the momentum while retail participation is gradually improving

Safe Enterprises Retail Fixtures IPO - Day 1 Subscription at 0.60 Times

Key Highlights - Day 1:

• Overall subscription opening modest at 0.60 times, showing cautious initial investor interest
• QIB segment leading with moderate early participation at 1.56 times, indicating some institutional interest
• NII segment showing modest initial interest at 0.44 times on day one
• Retail segment showing a very cautious early approach at 0.13 times

About Safe Enterprises Retail Fixtures IPO

Incorporated in 1976, Safe Enterprises Retail Fixtures Limited designs, manufactures, supplies, and installs shop fittings and retail fixtures, providing a range of customised solutions across various retail segments such as fashion, electronics, and department stores. The company provides merchandising solutions that address retail challenges in display, placement, storage, and safety, offering shop fitting services from design to installation tailored to customer needs.

Financial performance shows strong growth with revenue increasing 38% from ₹101.38 crores in FY2024 to ₹139.73 crores in FY2025, while profit after tax surged 70% from ₹23.09 crores to ₹39.19 crores. The company maintains exceptional profitability metrics with 77.54% ROE, 69.10% ROCE, operates with zero debt, and has a market capitalisation of ₹634.53 crores. Post-IPO P/E ratio of 16.19x appears reasonable for a growing retail fixtures company.

Highlights of the Safe Enterprises Retail Fixtures IPO:

• IPO type: Book Building IPO
• IPO size: ₹169.74 crores
• Fresh Issue: 1.23 crore shares
• Face value: ₹5 per share
• Issue price: ₹138 per share
• Lot size: 1,000 shares
• Minimum investment for retail investors: ₹1,38,000 (1 lot, 1,000 shares)
• Minimum investment for HNI: ₹2,76,000 (2 lots, 2,000 shares)
• Anchor investor allocation: ₹48.31 crores
• Book-running lead manager: Hem Securities Limited
• Registrar: Maashitla Securities Private Limited
• Market maker: Hem Finlease Private Limited
• Listing at: NSE SME
• IPO opens: June 20, 2025
• IPO closes: June 24, 2025
• Allotment date: June 25, 2025
• Listing date: June 27, 2025
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