June 2025 – Safe Enterprises Retail Fixtures Limited, a company engaged in design, manufacturing, and installation of retail shop fittings and fixtures, has announced the launch of its Initial Public Offering (IPO) on the NSE Emerge platform.

The IPO opens on June 20, 2025 and closes on June 24, 2025 with a price band of ₹131 to ₹138 per equity share having a face value of ₹5 each.

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.

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• 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 and ₹1,000 lakhs of company & subsidiary
• Funding general corporate purposes.

• Revenue (FY25): ₹13,831.31 lakhs (Consolidated)
• EBITDA: ₹5,210.65 lakhs (37.67%)
• Net Profit: ₹3,918.54 lakhs (28.33%)
• ROE:54%
• ROCE:10%
• Net Worth: ₹7,207.58 lakhs (FY25)
• Revenue CAGR (FY23-FY25):84%
• PAT CAGR (FY23-FY25):04%

• Saleem Shabbir Merchant, Chairman & Managing Director (CMD) has 48 years of experience in the industry.
• Mikdad Merchant, Whole-Time Director & Chief Financial Officer (CFO) is a Chartered Accountant (CA) with 13 years of experience.
• Huzefa Merchant, Whole-Time Director brings 14 years of experience in the retail fixture segment.

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.