Safecure Services Sets IPO Price at ₹102 per Share, Debuting on BSE's SME Platform

Safecure Services, a Thane-based security and facility management company, announced an IPO priced at ₹102 per equity share, open for subscription from October 29 to 31. The funds raised will be used for working capital and debt reduction. The company's shares will list on the BSE's SME platform.

Safecure Services, renowned for its security and facility management, has announced an initial public offering (IPO) with a share price fixed at ₹102. The Thane-based company aims to raise ₹30.6 crore through this venture, marking a significant step in its expansion strategy.

The IPO, entirely fresh with 30 lakh equity shares, is scheduled to open for public subscription from October 29 to 31, allowing investors to bid in blocks of a minimum of 2,400 shares. This strategic financial maneuver anticipates bolstering the company's capabilities with ₹13 crore allocated to working capital and ₹7 crore targeted for debt reduction alongside general corporate expenses.

Founded in 2012, Safecure Services reported revenues of ₹18.32 crore with a net profit of ₹2.02 crore in the previous quarter. Notably, shares will debut on the BSE's SME platform. Sun Capital Advisory Pvt Ltd is managing the IPO, paving the way for potential financial growth and investment opportunities.

(With inputs from agencies.)