New Delhi, June 27 (H.S.): Shares of Safe Enterprises debuted on the stock market today, pleasantly surprising its IPO investors. Priced at ₹138, they began trading on the NSE SME platform at ₹151, reflecting a 9.42 percent premium. Supported by buying interest, the shares climbed to the upper circuit level of ₹158.55, yielding a 14.89 percent profit for IPO investors on the first day. The ₹169.74 crore IPO ran from June 20 to June 24 and was oversubscribed by 14.70 times, with Qualified Institutional Buyers (QIBs) subscribing 34.31 times, Non-Institutional Investors (NIIs) 12.51 times, and retail investors 4.44 times.

A total of 1.23 crore new shares with a face value of ₹5 were issued, and the raised funds will help establish a new plant, address working capital needs, and support general corporate purposes. The company’s financial outlook appears promising, with a reported net profit of ₹12.09 crore for 2022-23, projected to increase to ₹23.09 crore in 2023-24 and ₹39.19 crore in 2024-25, alongside revenue growth exceeding a 37.83 percent CAGR.

Hindusthan Samachar / Jun Sarkar