Safe Enterprises Retail, year's biggest SME IPO, looks to raise Rs 169.74 crore this week

Safe Enterprises Retail Fixtures IPO

The biggest initial public offering (IPO) in the SME segment for 2025 - Safe Enterprises Retail Fixtures - is set to hit the street later this week, looking to raise Rs 169.74 crore from investors through an entirely fresh issue of 1.23 crore shares.

The anchor book of the IPO is set to be launched on June 19, and the offer will open for public between June 20-24, with share allotment likely by June 25. The shares are expected to be available for trading on the NSE Emerge effective June 27 at a price band of Rs 131-138 per share.

The Maharashtra-based company provides customised in-store solutions across multiple retail segments, and is looking to raise Rs 169.74 crore via the IPO by offering a fresh issue of 1.23 crore shares. With three manufacturing units in the state, incorporated in 1976, Safe Enterprises provides designing, manufacturing, supplying and installation of shop fittings and retail fixtures.

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The company will spend Rs 65.9 crore out of net IPO proceeds to set up a manufacturing unit and Rs 30 crore will be for working capital requirements. Further, Rs 6.99 crore will be utilised for installation of additional plant and machinery by subsidiary, Safe Enterprises Retail Technologies, and Rs 10 crore for working capital requirements of the same subsidiary. The remainder of the funds will be used for general corporate purposes.

Safe Enterprises seeks a valuation of Rs 643.1 crore, and clocked a healthy financial performance in recent years with FY25 net profit rising 69.7 percent on year to Rs 39.2 crore, and revenue higher by 37 percent at Rs 138.3 crore.

Hem Securities is the sole book-running lead manager handling the public issue.