Safe Enterprises Retail Fixtures Limited, a key player in the in-store retail solutions industry, launched its Initial Public Offering (IPO) on June 20, 2025. The ₹169.74 crore IPO comprises only a fresh issue of 123 lakh shares, aimed at strengthening the company’s growth and expansion plans.

About the Company:

Safe Enterprises Retail Fixtures specializes in customized retail display and fixture solutions, catering to clients across sectors such as fashion & apparel, electronics, supermarkets, department stores, and more. Their comprehensive offerings include designing, manufacturing, and on-site installation, delivering end-to-end execution.

The company has built strong partnerships with some of India’s leading retail brands and store chains, backed by in-house design teams, modular production infrastructure, and a nationwide delivery network. Their scalable business model gives them a unique edge in a rapidly expanding retail and e-commerce-driven ecosystem.

IPO Timeline:

IPO Details:

Safe Enterprises IPO GMP (as of June 23, 2025):

• Grey Market Premium (GMP): ₹15

• Expected Listing Price: ₹153

• Estimated Listing Gain: ~11%

⚠️ Note: GMP is unofficial and not regulated. It may fluctuate significantly based on demand and market sentiment.

Subscription Status (as of 11:00 AM, June 23, 2025):

• Total Subscription: 1.68x

  • Retail Portion: 2.91x

  • HNI/NII Portion: 1.34x

  • QIB Portion: 0.76x

Subscription momentum is expected to pick up further on the final day.

Financial Performance Overview (₹ in Crores):

The company has shown strong topline growth, consistent profit margins, and improving returns over the last 3 years, which reflects operational strength and scalability.

Valuation Metrics:

The valuation looks moderately high compared to peers in the SME segment, but is backed by growth momentum and solid profitability.

Use of IPO Proceeds:

The IPO proceeds will be primarily utilized for:

• Setting up new production and assembly units

• Working capital requirements

• Technology upgradation and R&D

• General corporate purposes

Peers Comparison:

Though smaller in size, Safe Enterprises shows comparable profitability with listed industry players.

Should You Apply?

✅ Pros:

• Strong financials with revenue and profit growth

• Pan-India client network in organized retail

• Solid ROE and EBITDA margins

• Reasonable GMP and positive listing sentiment

⚠️ Risks:

• SME segment stocks are illiquid and volatile

• Valuations are slightly rich

• Growth is linked to cyclical retail spending

Final Verdict:

The Safe Enterprises Retail Fixtures IPO presents a growth-oriented investment in a niche, underpenetrated market. The company’s strong client base, rising profitability, and expansion-driven IPO objectives make it attractive for investors looking for SME exposure with upside potential.

📌 Recommendation:
✔️ Apply with Moderate Risk Appetite
⚠️ Consider listing gains and long-term hold based on market momentum

Disclaimer

This article is for educational and informational purposes only. It does not constitute investment advice. IPO investments are subject to market risks, and the Grey Market Premium is not officially regulated. Investors are advised to consult a SEBI-registered financial advisor before investing.

The Upcoming IPOs in this week and coming weeks are Supertech EV, Valencia India, Neetu Yoshi, Abram Food, PRO FX Tech, Suntech Infra Solutions, Shri Hare-Krishna Sponge Iron, Icon Facilitators, Ace Alpha Tech, Globe Civil Projects, Sambhav Steel Tubes, Ellenbarrie Indutrial Gases, Kalpataru, HDB Financials, AJC Jewel.

The Current active IPO are  Aakaar Medical Technologies, Safe Enterprises Retail Fixtures, Mayasheel Ventures.

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