Safe Enterprises Retail Fixtures Ltd logo

Safe Enterprises Retail Fixtures IPO

  • Status: Closed
  • RHP:
  • ₹ 131,000 / 1000 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    27 Jun 2025

  • Listing Price

    ₹ 151.00

  • Listing Change

    9.42%

  • Last Traded Price

    ₹ 212.35

IPO Details

  • Open Date

    20 Jun 2025

  • Close Date

    24 Jun 2025

  • Listing Date

    27 Jun 2025

  • IPO Price Range

    ₹ 131 to ₹138

  • IPO Size

    ₹ 161.13 Cr

  • Listing Exchange

    NSE SME

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Safe Enterprises Retail Fixtures IPO Subscription Status

Last Updated: 01 July 2025 3:31 PM by 5paisa

Incorporated in 1976 and led by Saleem Shabbir Merchant, Safe Enterprises Retail Fixtures Limited is a retail fixtures and shop fittings company providing end-to-end solutions for modern retail environments across fashion, electronics, grocery, and luxury sectors. With in-house manufacturing and custom design capabilities, the company services prominent Indian retailers such as Zudio, Westside, Nature’s Basket, and Reliance Retail.

Their product portfolio includes modular gondola shelving, checkout counters, display racks, mannequins, and visual merchandising systems, with tailored offerings blending aesthetics and functionality. The company operates three manufacturing units—two in Mumbai and one in Thane—with additional franchisees and distributors in Navi Mumbai, Hyderabad, Dubai, and Kansas City. As of October 2024, their in-house design team included 15 professionals.

Established in: 1976
Promoters: Saleem Shabbir Merchant.
 

Objectives

The company proposes to utilise the net IPO proceeds towards:

Capital expenditure for establishing a new manufacturing unit
Investment in a subsidiary for additional plant and machinery
Meeting the working capital requirements of both the parent and the subsidiary
General corporate purposes
 

Safe Enterprises Retail Fixtures IPO Size

Types Size
Total IPO Size ₹161.13 Cr
Offer For Sale -
Fresh Issue ₹161.13 Cr

 

Safe Enterprises Retail Fixtures IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 1000 ₹1,31,000
Retail (Max) 1 1000 ₹1,31,000
HNI (Min) 2 2000 ₹2,62,000

Safe Enterprises Retail Fixtures IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)*
QIB 34.31 23,36,000 8,01,39,000 1,105.92
NII (HNI) 12.51 17,52,000 2,19,17,000 302.45
Retail 4.44 40,87,000 1,81,38,000 250.30    
Total** 14.70 81,75,000 12,01,94,000 1,658.68

 

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY24 FY25
Revenue 77.21 101.38 139.73
EBITDA 19.19 34.25 52.10
PAT 12.09 23.09 39.19
Particulars (in Rs. Crores)] FY23 FY24 FY25
Total Assets 1.27 0.90 0.24
Share Capital 14.85 24.64 17.15
Total Borrowings 39.39 54.40 101.94
Particulars (in Rs. Crores FY23 FY24 FY25
Net Cash Generated From / (used in) operating activities 8.54 13.54 31.05
Net Cash Generated From / (used in) investing activities -2.26 -6.78 -10.46
Net Cash Generated From / (used in) financing activities -1.00 -11.06 -7.51
Net Increase (Decrease) In Cash And Cash Equivalents 5.28 -4.30 13.08


Strengths

1. In-house manufacturing with design customisation
2. Long-standing relationships with reputed Indian retailers
3. Experienced senior management and skilled design team
4. Brand trust and pan-India presence in 25+ states
 

Weaknesses

1. High dependence on large clients
2. Limited global scale despite distributors abroad
3. Business is highly linked to retail capex cycles
3. Rapidly changing design trends demand constant innovation
 

Opportunities

1. Rising demand for modular fixtures in Tier-II/III cities
2. Scope for expanding the international distributor network
3. Growth in omnichannel and experiential retail environments
4. Potential entry into specialised segments like pharmacy & BFSI
 

Threats

1. Intense competition from unorganised and imported alternatives
2. Fluctuations in raw material costs
3. Delays in large retail projects due to economic slowdowns
4. Dependency on discretionary retail investments
 

1. Established market presence with over four decades of experience
2. Strong revenue growth and profit expansion in FY25
3. Zero debt and a healthy cash flow position
4. Comprehensive product and service offering for modern retail
5. Strategic fund allocation towards capacity expansion and tech upgrades
 

1. The Indian retail infrastructure sector is witnessing rapid growth, driven by demand for modern, modular, and brand-aligned fixtures.
2. Organised retail is expanding into Tier-II and Tier-III cities, led by digital-first and lifestyle brands focusing on premium in-store experiences.
3. Government initiatives like PLI schemes and ‘Make in India’ are boosting domestic manufacturing capabilities.
4. Companies like Safe Enterprises are well-positioned to scale for both domestic and export markets amid this structural shift.
 

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FAQs

The Safe Enterprises Retail Fixtures IPO opens on June 20, 2025, and closes on June 24, 2025.
 

 The Safe Enterprises Retail Fixtures IPO size is ₹161.13 Cr through a fresh issue of 1.16 crore shares.

 The price band of Safe Enterprises Retail Fixtures IPO is ₹131 to ₹138 per share.
 

To apply for Safe Enterprises Retail Fixtures IPO, follow the steps given below:

  • Login to your 5paisa account and select the issue in the current IPO section
  • Enter the number of lots and the price at which you wish to apply for the Safe Enterprises Retail Fixtures IPO
  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange

You will receive the mandate notification to block funds in your UPI app.
 

The minimum lot of Safe Enterprises Retail Fixtures IPO is 1,000 shares with an investment of ₹1,31,000.

Tentatively, allotment of Safe Enterprises Retail Fixtures IPO will be finalised on June 25, 2025.
 

The Safe Enterprises Retail Fixtures IPO is likely to be listed on the NSE SME on June 27, 2025.
 

Hem Securities Limited is the book-running lead manager for this Safe Enterprises Retail Fixtures IPO.

Safe Enterprises Retail Fixtures to utilise the IPO proceeds towards: 

  • For capex 
  • Working capital
  • Investments in its subsidiary for machinery upgrades and expansion.