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Safe Enterprises IPO
Price Band
₹131.0–138.0
Issue Size
₹169.74 Cr
Lot Size
1,000 shares
Min Investment
₹138,000
GMP
+₹6.0 (4.35%)
Issue Price
₹138.0
Subject to Sauda
₹4600
Paid only if allotted
Safe Enterprises IPO AI Summary
- Safe Enterprises IPO is listed on NSE SME in the Furniture, Home Furnishing sector.
- Price band: ₹131.0–₹138.0 per share, lot size 1,000 shares (min. investment ₹138,000).
- Subscription window: 20 Jun–24 Jun 2025, listing on 27 Jun 2025.
- Current GMP is +₹6.0 (4.35%), an estimated listing price of ₹144 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Safe Enterprises IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 24 Jun 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Safe Enterprises IPO Grey Market Premium (GMP) Today
GMP
+₹6.0
GMP %
+4.35%
Est. Listing
₹144.0
Updated: 25 Jul 2026 14:14
About the Company
Incorporated in 1976, Safe Enterprises Retail Fixtures Limited designs, manufactures, supplies, and installs shop fittings and retail fixtures, providing a range of customized 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. The company serves various retail sectors like fashion, electronics, grocery, and luxury. Clients include major Indian chains and hypermarkets, such as: Zudio & Westside – Fixtures for fashion. Godrej Nature’s Basket – Custom shelving for gourmet stores. Reliance Retail & Future Group – Installations for hypermarkets. The company offers the following products & services. Gondola Shelving – Modular shelves for supermarkets. Checkout Counters – Ergonomic designs to improve customer experience. Display Racks & Stands – Customizable for fashion, electronics, and FMCG. Mannequins & Visual Merchandising Displays – Modern solutions for store aesthetics. and branding. Storage & Backroom Fixtures – High-capacity shelving for stockrooms. Custom Fixture Design:Personalized solutions that seamlessly blend functionality with aesthetics. Innovative Solutions:Creative designs that adapt to the ever-evolving retail trends. The company has three manufacturing units, two of which are situated in Mumbai and one in Thane, Maharastra. The company has two franchisees in Navi Mumbai and Hyderabad, as well as two distributors in Dubai and Kansas City. The company sells products in over 25 states and union territories, with most revenue from Maharashtra, followed by Karnataka and Gujarat. As of October 31, 2024, the company had 15 employees in the design team. Competitive Strength: In-house product manufacturing capabilities. Established relationships with customers across various geographical locations. Experienced Senior Management backed by design and development team. Positive consumer experience and long-term brand loyalty.
Company Financials (₹ Cr)
As of 2025-03-30
| Period Ended | 30 Mar 2025 | 31 Mar 2024 |
|---|---|---|
| Assets | 101.94 | 54.40 |
| Total Income | 139.73 | 101.38 |
| Profit After Tax | 39.19 | 23.09 |
| NET Worth | 72.08 | 28.99 |
| Reserves and Surplus | 54.92 | 4.36 |
Key Ratios
EPS
₹11.42
NAV
₹21.01
ROE
77.54%
ROCE
69.10%
RoNW
54.37%
P/B Value
6.57
P/E Ratio
12.08
Market Cap
₹634.53 Cr
PAT Margin
28.33%
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Naman In-Store (India) | 60.75 | 7.91% | 21.31 | 5.34 | 5.34 |
| Safe Enterprises Retail Fixtures This IPO | 21.01 | 54.37% | 12.08 | 11.42 | 11.42 |
Promoters
Saleem Shabbir Merchant, Mikdad Saleem Merchant, Huzefa Salim Merchant and Munira Salimbhai Merchant
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding the Capital Expenditure requirements towards setting up of a new manufacturing unit. 65.89 2 Investment in the Subsidiary, Safe Enterprises Retail Technologies Pvt.Ltd. for financing its capital expenditure requirements in relation towards installation of additional plant and machinery 6.99 3 To Meet Working Capital Requirements of the Company 30.00 4 Investment in the subsidiary Safe Enterprises Retail Technologies Pvt.Ltd. to meet working capital requirements 10.00 5 General Corporate Purposes 35.91 6 Issue Expenses 20.95 Total 169.74
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹101.38 Cr for the period ending 31 Mar 2024, increasing to ₹139.73 Cr by 30 Mar 2025. This indicates a growth in revenue over the year.
Profit Trend
Profit after tax rose from ₹23.09 Cr for the period ending 31 Mar 2024 to ₹39.19 Cr by 30 Mar 2025. This shows an increase in profitability over the same period.
Valuation
Safe Enterprises has an implied P/E of 12.08 at the issue price, while peers like Naman In-Store (India) are trading at a P/E of 21.31, indicating that this IPO is priced at a lower valuation compared to its peer group.
Grey Market Premium, Explained
The grey market premium (GMP) is the unofficial price at which shares are traded before they are listed on the stock exchange. A positive GMP indicates that the market expects the stock to list at a higher price than the issue price, while a negative GMP suggests the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as market conditions, the company's growth potential, and financial health.
Who May Want to Wait
Investors who prefer stable, established companies with a proven track record may want to avoid IPOs like this, which can involve higher risks and uncertainties associated with new listings.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when selling shares on the first day of trading. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock.
This evaluation is generated from Safe Enterprises's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Safe Enterprises IPO GMP today?
Safe Enterprises IPO GMP today is +₹6.0 (4.35%), indicating an estimated listing price of ₹144. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Safe Enterprises IPO?
The price band of Safe Enterprises IPO is ₹131.0–₹138.0 per share.
When does Safe Enterprises IPO open and close?
Safe Enterprises IPO opens on 20 June 2025 and closes on 24 June 2025.
When does Safe Enterprises IPO list on the stock exchange?
Safe Enterprises IPO listed on 27 June 2025 at ₹144.0.
What is the lot size for Safe Enterprises IPO?
The lot size for Safe Enterprises IPO is 1000 shares, requiring a minimum investment of ₹138,000.
What is the lot size for this IPO?
The lot size for the Safe Enterprises IPO is 1000 shares.
What is the minimum investment required?
The minimum investment required is ₹138,000.
What is the price band for this IPO?
The price band for this IPO is ₹131 to ₹138.
When does the IPO open and close?
The IPO opens on June 20, 2025, and closes on June 24, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the shares in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
20 Jun 2025
Close
24 Jun 2025
Allotment
25 Jun 2025
Listing
27 Jun 2025
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