Safecure Services Launches Rs 31 Crore IPO on BSE SME Platform
Safecure Services, a Thane-based security and facility management company, has opened its IPO to raise Rs 31 crore. The company is issuing 30 lakh equity shares at Rs 102 each, with listing scheduled for November 6, 2023, on BSE SME. Safecure operates in 12 Indian districts, offering security, e-surveillance, housekeeping, and ATM maintenance services. The IPO proceeds will be used for working capital, debt repayment, and general corporate purposes. The company reported a total income of Rs 73.27 crore and net profit of Rs 6.16 crore in FY 2025, showing year-on-year growth. Currently, the grey market premium stands at 0%, indicating neutral investor sentiment.
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Safecure Services, a Thane-based security and facility management company, has opened its Initial Public Offering (IPO) for subscription. The IPO aims to raise Rs 31 crore through the fresh issue of 30 lakh equity shares priced at Rs 102 each.
IPO Details
| Particular | Details |
|---|---|
| Issue Size | Rs 31 crore |
| Fresh Issue | 30 lakh equity shares |
| Price per Share | Rs 102 |
| Listing Platform | BSE SME |
| Listing Date | November 6, 2023 |
| Grey Market Premium | 0% |
Company Overview
Safecure Services operates across 12 districts in India, employing over 1,800 people. The company offers a range of services including:
- Security services
- E-surveillance
- Housekeeping
- ATM maintenance
These services cater to a diverse clientele comprising banks, corporations, and government organizations.
Financial Performance
The company has shown growth in its financial performance:
| Fiscal Year | Total Income | Net Profit |
|---|---|---|
| FY 2025 | 73.27 | 6.16 |
| FY 2024 | 63.06 | 5.69 |
| Year-on-Year Growth | 16.00% | 8.26% |
Note: Financial figures are in Rs crore
Utilization of IPO Proceeds
The funds raised through the IPO will be allocated as follows:
| Purpose | Amount (in Rs crore) |
|---|---|
| Working Capital Requirements | 13.00 |
| Debt Repayment | 8.25 |
| General Corporate Purposes | 4.50 |
Market Sentiment
The current grey market premium for Safecure Services stands at 0%, indicating a neutral investor sentiment towards the IPO. This could be attributed to various factors including market conditions and the company's positioning in the competitive security and facility management sector.
Investors considering this IPO should carefully evaluate the company's growth prospects, competitive landscape, and the overall market conditions before making an investment decision. As always, it's advisable to read the offer document and consult with financial advisors to understand the risks associated with SME investments.
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