Acme Universal Safezone 9 IPO closed with a strong 14.67x oversubscription as institutional and retail demand surged on the final day.

Subscription Status

The issue witnessed explosive growth on Day 3 (September 30, 2026), jumping from a cumulative 0.36x at the end of Day 2 to a final tally of 14.67x. The total subscription increased by 2473.7% during the final trading session, reflecting intense market interest as the bidding window closed. Non-Institutional Investors, particularly Big HNIs, were the primary drivers of this surge.

Category-wise Breakdown

Qualified Institutional Buyers (QIBs), who showed minimal interest in the initial days, subscribed 12.07x of their reserved portion on the final day. The Non-Institutional Investor category displayed the strongest momentum, with Small HNIs (sHNI) recording a staggering 39.68x subscription. Big HNIs (bHNI) contributed 14.81x demand. Retail investors also participated actively, closing with 11.19x subscription, a significant jump from earlier levels. Employee subscriptions remained at 0x.

Intra-day Timeline — 28 September 2026

Demand picked up pace significantly after noon, particularly among HNIs. The total subscription rose from 0.03x at 11:15 IST to 0.13x by 17:15 IST, with the bHNI segment driving the majority of this growth.

Momentum highlights (day-open vs latest):

• NII (bHNI): 0.13x → 0.81x (Δ +0.68x, +523.1%)
• Retail: 0.07x → 0.16x (Δ +0.09x, +128.6%)
• Total: 0.03x → 0.13x (Δ +0.10x, +333.3%)
• QIB: 0.00x → 0.00x (no change)

Offer Details

The IPO featured a price band of ₹65.00 to ₹71.00 per share. The minimum bid quantity was set at 3200 shares. The issue size ranged from ₹2,08,000 crore to ₹5,00,000 crore based on the price band and lot size calculations provided in the data snapshot.

• Price Band: ₹65.00 - ₹71.00
• Min Bid Qty: 3200
• Issue Size: ₹2,08,000 - ₹5,00,000
• Open Date: 2026-09-28
• Close Date: 2026-09-30

About the Company

Acme Universal Safezone 9 Limited is an ISO-certified manufacturer and supplier of industrial safety footwear under the brand 'ACME'. Operating in the Personal Protective Equipment (PPE) segment, it serves sectors such as construction, oil & gas, mining, and automotive. The company operates four manufacturing facilities in Madhya Pradesh and Uttar Pradesh, offering 15 product lines compliant with IS 15298, EN ISO 20345, and ASTM F2413 standards. Distribution is managed through direct institutional sales, regional distributors, and e-commerce channels across 40+ locations in India, with exports to markets including UAE, Bahrain, Saudi Arabia, and Nigeria.

Financial Highlights

For FY2026, the company reported Revenue from Operations of ₹20,590.31 lakhs, EBITDA of ₹1,515.19 lakhs (7.36%), and PAT of ₹585.73 lakhs (2.84%).

Objects of the Issue

The company intends to utilize the net proceeds for:

• Funding capital expenditure for installation of solar power plants at three manufacturing facilities (₹3.62 crore).
• Procurement and installation of advanced plant and machinery including Knife Cutting Machines and Foaming Pouring Machines (₹8.96 crore).
• Meeting incremental working capital requirements (₹8.00 crore).
• Funding unidentified acquisitions and strategic initiatives.

Risk Factors

Key risks highlighted include:

• High Customer Concentration: Top 10 customers accounted for 47.71% of total sales in FY2026.
• BIS Certification Risk: Dependence on BIS licenses for government/GeM procurement; non-renewal could disqualify the company from tenders.
• Raw Material Volatility: Reliance on PU/PVC compounds linked to crude oil derivatives without long-term fixed-price contracts.
• Geopolitical Risks: US tariffs on Indian leather exports and Middle East conflicts affecting trade routes.
• Leased Premises: Key operational premises are on leased arrangements, including factory leases from promoters.