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Last day! Safe Enterprises IPO ends today; Subscription rises 5x, GMP up 4%
According to data available from the National Stock Exchange (NSE), Safe Enterprises IPO has received bids for 4,04,50,000 shares against the 87,99,000 shares on offer, as of 1:18 PM on June 24. This translates to an oversubscription of 4.60 times.
Safe Enterprises IPO detail
The Safe Enterprises IPO consists of a fresh issue of 12.30 million equity shares, with no offer for sale (OFS) component. The public offering is priced in the range of ₹131 to ₹138 per share, with a lot size of 1,000 shares. Therefore, investors must bid for a minimum of 1,000 shares, and bids can be placed in multiples of 1,000.
A retail investor looking to bid for one lot (1,000 shares) will need to invest a minimum of ₹1,38,000 (Taking the upper price band under consideration).
Safe Enterprises IPO grey market premium (GMP) today
The grey market premium (GMP) for Safe Enterprises IPO shares has seen a decline on Tuesday. Sources tracking the unofficial market indicate that shares were trading at ₹143, reflecting a GMP of ₹5, or 3.62 per cent above the upper end of the issue price of ₹138. This is a ₹5 decrease from Monday's GMP of ₹10.
Safe Enterprises IPO allotment date, listing date
With the subscription window closing today, the basis of allotment for Safe Enterprises IPO shares is expected to be finalised on Wednesday, June 25. Shares are set to be credited to demat accounts by Thursday, June 26.
The company is expected to list its shares on the NSE SME (NSE Emerge) platform on Friday, June 27.
Safe Enterprises IPO objective
According to the company's Red Herring Prospectus (RHP), the proceeds from the IPO will be utilised for capital expenditures to set up a new manufacturing unit. Additionally, part of the funds will be directed towards investments in the subsidiary, Safe Enterprises Retail Technologies Private Limited, to support its own capital expenditure requirements related to the installation of additional plant and machinery.
The remaining proceeds will be used to meet working capital needs, further investments in the subsidiary, and general corporate purposes.
Safe Enterprises IPO registrar, BLRM details
Maashitla Securities has been appointed as the registrar for the offering, while Hem Securities is acting as the sole book-running lead manager and market maker for the IPO.
About Safe Enterprises Retail Fixtures
Safe Enterprises Retail Fixtures specialises in the design, manufacturing, and installation of shop fittings and retail fixtures for a variety of retail segments. The company offers customised solutions for display, placement, storage, and safety. The product range includes gondola shelving, checkout counters, display racks, and storage fixtures. With three manufacturing units in Maharashtra, Safe Enterprises sells its products across over 25 states and union territories in India.
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