NewsAcme Universal Safezone 9 IPO Day 3: Subscribed 14.67x; QIB hits 12.07x; sHNI leads at 39.68xAcme Universal Safezone 9 IPO Day 3: Subscribed 14.67x; QIB hits 12.07x; sHNI leads at 39.68x
- Acme Universal Safezone 9 IPO closed with a final subscription of 14.67x.
- QIB category subscribed 12.07x, showing strong late-day institutional interest.
- Small HNIs led demand with a 39.68x subscription, followed by bHNI at 14.81x.
- Retail investors subscribed 11.19x of their reserved portion by the close.
- The issue opened on September 28, 2026, and closed on September 30, 2026.
*this image is generated using AI for illustrative purposes only.
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.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 28-09-2026 | 0.00x | 0.81x | 0.38x | 0.16x | 0.13x |
| Day 2 | 29-09-2026 | 0.00x | 1.56x | 1.46x | 0.39x | 0.36x |
| Day 3 | 30-09-2026 | 12.07x | 14.81x | 39.68x | 11.19x | 14.67x |
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
The market saw a sharp influx of bids throughout the day, with the most significant acceleration occurring after 2:00 PM IST. Total subscription raced ahead from 2.32x to 14.67x in the final two hours. QIB demand materialized completely within this window, jumping from 1.40x to 12.07x. Simultaneously, bHNI demand nearly doubled from 3.66x to 14.81x, while Retail bids climbed from 2.06x to 11.19x.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 2.47x | 0.72x | 0.57x |
| 12:15 | 0.00x | 3.11x | 0.97x | 0.73x |
| 13:15 | 0.00x | 3.50x | 1.47x | 1.11x |
| 14:15 | 1.40x | 3.66x | 2.06x | 2.32x |
| 15:15 | 4.25x | 6.87x | 3.85x | 5.43x |
| 16:15 | 12.07x | 14.81x | 11.19x | 14.67x |
| 17:15 | 12.07x | 14.81x | 11.19x | 14.67x |
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%).
| Metric | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| Revenue from Operations (₹ Cr) | 205.90 | 187.36 | 178.94 |
| Total Revenue (₹ Cr) | 211.16 | 191.31 | 181.67 |
| Profit Before Tax (₹ Cr) | 7.82 | 3.11 | 10.10 |
| Net Profit (₹ Cr) | 5.86 | 0.80 | 7.56 |
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.
How will the massive last-minute surge in QIB and sHNI demand influence the final allotment ratios and potential listing gains for Acme Universal Safezone 9?
Given the significant gap between the 14.67x oversubscription and the company's modest 7.36% EBITDA margin, what valuation multiples are analysts expecting at the listing price?
What impact will the planned capital expenditure on solar power and advanced machinery have on the company's operating margins in the next two fiscal years?
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