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Safe Enterprises IPO Day 2 update; check subscription data, GMP, key dates
Safe Enterprises IPO details
The SME offering, valued at around ₹169.74 crore, comprises an entirely fresh issue of 12.30 million equity shares. It does not have any offer for sale (OFS) component. Safe Enterprises IPO is available at a price band of ₹131 - ₹138 per share, and a lot size of 1,000 shares. Thus, the investors can bid for a minimum of 1,000 shares and in multiples thereof.
A retail investor would require a minimum of ₹1,38,000 to bid for one lot or 1,000 shares of Safe Enterprises IPO.
Safe Enterprises IPO grey market premium (GMP) today
The unlisted shares of Safe Enterprises were commanding a decent premium in the grey markets on Monday. Sources tracking unofficial market activities revealed that the company's shares were quoted trading at around ₹148 per share, reflecting a grey market premium (GMP) of ₹10 or 7.25 per cent over the upper end of the issue price of ₹138.
Safe Enterprises IPO timeline
The public offering will remain available for subscription till Tuesday, June 24. Following that, the basis of allotment is expected to get finalised on Wednesday, June 25, with shares getting credited into demat accounts by Thursday, June 26.
Safe Enterprises shares are slated to list on the NSE SME (NSE Emerge) tentatively on Friday, June 27.
Safe Enterprises IPO objective
The company proposes to use the proceeds from the public offering for funding the capital expenditure requirements towards the setting up of a new manufacturing unit, as well as for the investment in the subsidiary, Safe Enterprises Retail Technologies Private Limited, for financing its capital expenditure requirements related to the installation of additional plant and machinery. The company will further deploy the IPO proceeds for meeting working capital requirements, investment in the subsidiary Safe Enterprises Retail Technologies Private Limited to meet working capital requirements, and general corporate purposes.
Safe Enterprises IPO registrar, lead manager
Maashitla Securities serves as the registrar for the issue of Safe Enterprises, while Hem Securities acts as the sole book-running lead manager as well as the market maker for the offering.
About Safe Enterprises Retail Fixtures
Incorporated in 1976, Safe Enterprises Retail Fixtures designs, manufactures, and installs shop fittings and retail fixtures for various retail segments. The company provides customized solutions for display, placement, storage, and safety, serving clients like Zudio, Westside, and Reliance Retail. Safe Enterprises offers a range of products, including gondola shelving, checkout counters, display racks, and storage fixtures. The company has three manufacturing units in Maharashtra and sells products in over 25 states and union territories.
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