Safe Enterprises Retail Fixtures IPO Live
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Schedule of Safe Enterprises Retail Fixtures
| Issue open date | 20 Jun 2025 |
| Issue close date | 24 Jun 2025 |
| UPI mandate deadline | 24 Jun 2025 (5 PM) |
| Allotment finalization | 25 Jun 2025 |
| Refund initiation | 26 Jun 2025 |
| Share credit | 26 Jun 2025 |
| Listing date | 27 Jun 2025 |
| Mandate end date | 09 Jul 2025 |
| Lock-in end date for anchor investors (50%) | 25 Jul 2025 |
| Lock-in end date for anchor investors (remaining) | 23 Sep 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Safe Enterprises Retail Fixtures
Safe Enterprises Retail Fixtures, originally established in 1976 and incorporated as a public limited company in 2024, is a prominent provider of customized shop fittings and retail fixture solutions across various retail segments such as fashion, electronics, and departmental stores.
The company offers comprehensive services from conceptual design and prototyping to manufacturing and installation. Its innovative product range includes modular and electrified shop fittings integrated with advanced digital technologies like LED lighting and interactive displays, designed to create unique retail experiences.
Operating from three modern manufacturing units in Maharashtra, India, and supported by a skilled design and project team, Safe Enterprises has registered 15 designs under the Designs Act 2000. The company has expanded its operations through corporate clients, experience centers, franchises, and distributors in India and internationally, including locations in Dubai and Kansas City.
Financials of Safe Enterprises Retail Fixtures
*All figures are in ₹ Crores.
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹161.13 crores |
| Fresh Issue | ₹161.13 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 65.89 (40.89%) |
| Investment in capital expenditure of subsidiary, Safe Enterprises Retail Technologies | 6.99 (4.33%) |
| Working capital requirements | 30 (18.62%) |
| Working capital requirements of subsidiary, Safe Enterprises Retail Technologies | 10 (6.21%) |
| General Corporate Purposes | – |
Comparison with peers (FY 2025)
| Company | Revenue (operations) (In crores) | Profit after tax (PAT) margin | EBITDA | PE | EPS (Basic and diluted) |
| Naman In-store (India) | 155.63 | 4.03% | 1471.92 | 21.31 | 5.32 |
| Safe Enterprises Retail Fixtures | 138.31 | 28.33% | 5210.65 | 11.47 | 11.42 |
Strengths
- The company has In-house manufacturing units in Maharashtra delivering high-quality, multi-material retail fixtures with strict quality control.
- Strong, diversified customer relationships across 25+ Indian states and select international markets contribute over 98% of revenue, with a focus on expanding geographic reach.
- Dedicated quality assurance team and ISO certifications ensure consistent product quality from sourcing to installation.
- Senior management with extensive industry experience, supported by a skilled design team, drives innovation and growth.
Risks
- Limited history as a converted company may cause financial volatility and uncertainty in growth prospects.
- Dependence on leased premises risks operational disruption if leases aren’t renewed or disputes occur.
- One customer contributes to over 85% of the company’s revenue.
- Dependence on few suppliers, including a key subsidiary, risks supply disruptions and impacts profitability.
- The company is subject to strict quality requirements and any failure to comply with quality standards can negatively affect their reputation.
- Sharing registered office premises with group and subsidiary companies without formal agreements may risk operational disruptions in case of disputes.
- Exports (1–1.3% of revenue) expose the company to foreign exchange risks that may impact financial results.