Safe Enterprises Retail Fixtures Limited launches Rs 169.74 crore IPO

The issue consists entirely of a fresh issue of 1,23,00,000 equity shares, aiming to raise ₹16,974 lakhs. The issue is being managed by Hem Securities Limited, with Maashitla Securities Private Limited acting as the registrar to the issue.

The minimum application lot is 1,000 equity shares. The company has allocated 58,37,000 shares for Qualified Institutional Buyers (QIB), 17,52,000 shares for Non-Institutional Investors (NII), 40,87,000 shares for Retail Individual Investors (RII), and 6,24,000 shares for Market Makers.

The capital raised will be deployed towards:

• Funding capital expenditure of ₹6,588.59 lakhs for setting up an integrated manufacturing facility, including land acquisition, civil construction, and purchase of plant and machinery.
• Investment of ₹ 699.02 lakhs in the subsidiary Safe Enterprises Retail Technologies Private Limited for manufacturing infrastructure development.
• Meeting working capital requirements amounting to ₹3,000.00 lakhs & ₹1,000 lakhs of company & subsidiary respectively.
• Funding general corporate purposes.

Company at a Glance

Originally founded in 1976 as a partnership firm, the company was restructured and incorporated as Safe Enterprises Retail Fixtures Limited (SERFL) in July 2024. It has acquired two subsidiaries—Safe Enterprises Retail Technologies Private Limited and Inscite Advisory Services LLP.

Headquartered in Navi Mumbai, SERFL provides merchandising and shop interior solutions for varied retail segments such as fashion, electronics, and departmental stores. It operates three manufacturing units in Navi Mumbai and maintains an Experience Centre in Cochin.

The company’s offerings span both traditional customized fixtures and advanced modular shop fitting systems with plug & play features, often integrated with IoT, digital screens, and electrified components.

Track Record of Financial Performance

• Revenue (FY25): ₹13,831.31 lakhs (Consolidated)
• EBITDA: ₹5,210.65 lakhs (37.67%)
• Net Profit: ₹3,918.54 lakhs (28.33%)
• ROE: 77.54%
• ROCE: 69.10%
• Net Worth: ₹7,207.58 lakhs (FY25)
• Revenue CAGR (FY23–FY25): 33.84%
• PAT CAGR (FY23–FY25): 80.04%

Leadership

• Saleem Shabbir Merchant, Chairman and Managing Director, has 48 years of experience in the industry.
• Mikdad Merchant, Whole-time Director and CFO, is a Chartered Accountant with 13 years of experience.
• Huzefa Merchant, Whole-time Director, brings 14 years of experience in the retail fixture segment.

Investor and Media Contact:
Corporate Communications – Safe Enterprises Retail Fixtures Limited
Plot No. D-372, TTC MIDC Industrial Area, MIDC Kukshet Village, Sanpada, Thane – 400703

• Email: compliance@safeenterprises.com
• Website: www.safeenterprises.com

Forward-Looking Statement:
Certain statements in this release may be forward-looking in nature, involving risks and uncertainties that may cause actual outcomes to differ materially. Safe Enterprises Retail Fixtures Limited does not undertake to update these statements publicly.

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