In late 2025, India’s SME primary market continues to welcome niche service businesses tapping public capital. Against this backdrop, Safecure Services Ltd. opens its IPO on October 29, 2025. Below is a structured look at the company, its IPO, and the industry outlook—mirroring your Scoda Tubes format.
About Safecure Services Ltd.
Incorporated in 2012, Safecure is a pan-India security and facility management company offering:
- Security services: manned guarding, event & ATM management, tech-enabled security.
- E-surveillance: monitoring of ATMs/bank branches, alarm monitoring & response.
- Facility management: housekeeping and business support services; ATM repair & maintenance.
- Corporate interiors/fit-outs.
Presence: HQ at Mira Road, Thane, with 12 offices across India; 1,849 employees (as on Aug 31, 2025).
Promoter: Shailendra Mahesh Pandey
Safecure IPO Details
| Particulars | Details |
| IPO Type | Fixed Price Issue |
| IPO Size | ₹30.60 crore |
| Fresh Issue | 30,00,000 shares (₹30.60 Cr) |
| Face Value | ₹10 per share |
| Issue Price (Final) | ₹102 per share |
| Lot Size | 1,200 shares (Retail minimum application is 2 lots = 2,400 shares) |
| Listing | BSE SME |
| Lead Manager | Sun Capital Advisory Services Pvt. Ltd. |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Market Maker | Giriraj Stock Broking Pvt. Ltd. |
| Pre-Issue Shares | 70,40,000 |
| Post-Issue Shares | 1,00,40,000 |
Important IPO Timeline
| Event | Date |
| IPO Open Date | October 29, 2025 (Wed) |
| IPO Close Date | October 31, 2025 (Fri) |
| Allotment (Tentative) | November 3, 2025 (Mon) |
| Initiation of Refunds | November 4, 2025 (Tue) |
| Credit of Shares to Demat | November 4, 2025 (Tue) |
| Listing (Tentative) | November 6, 2025 (Thu) |
| Cut-off time for UPI mandate confirmation | 5 PM on October 31, 2025 (Fri) |
IPO Reservation
| Investor Category | Shares / % |
| Market Maker | 1,50,000 shares (₹1.53 Cr) |
| Net Offered to Public | 28,50,000 shares (₹29.07 Cr) |
| Retail (RII) | 50% of Net Issue |
| NII (HNI) | 50% of Net Issue |
Safecure IPO Lot Size
| Application | Lots | Shares | Amount | ||
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,44,800 | ||
|
2 | 2,400 | ₹2,44,800 | ||
| HNI (Min) | 3 | 3,600 | ₹3,67,200 |
Safecure Services Ltd. Financials
Market Capitalisation (at issue terms): ₹102.41 crore
Key Performance Indicators (KPIs):
| KPI | Value |
| ROE | 28.86% |
| ROCE | 22.48% |
| RoNW | 28.86% |
| Debt/Equity | 0.98 |
| PAT Margin | 8.26% |
| EBITDA Margin | 17.00% |
| Price to Book | 4.79 |
| Market Capitalization | ₹102.41 Cr |
| EPS (Pre / Post) | ₹8.75 / ₹7.92 |
| P/E (Pre / Post) | 11.66x / 12.88x |
Key Company Financials (Restated Consolidated, ₹ Cr):
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 54.61 | 53.07 | 37.48 | 30.94 |
| Total Income | 18.36 | 73.27 | 63.06 | 47.74 |
| Profit After Tax | 1.99 | 6.16 | 5.69 | 3.98 |
| EBITDA | – | 12.43 | 11.36 | 9.09 |
| Net Worth | 22.94 | 20.93 | 15.00 | 9.33 |
| Reserves & Surplus | 16.17 | 14.16 | 8.12 | 7.62 |
| Total Borrowing | 19.52 | 20.55 | 14.30 | 11.51 |
Promoter Holding:
| Pre-Issue | Post-Issue | |
| Promoter Holding | 94.33% | 66.14% |
Objects of the Issue
| S.No. | Purpose | Amount (₹ Cr) |
| 1 | Repayment / pre-payment of certain borrowings (Company) | 4.75 |
| 2 | Repayment / pre-payment of borrowings of wholly-owned subsidiary (via loans/advances) | 3.50 |
| 3 | Funding working capital requirements | 13.00 |
| 4 | General corporate purposes | 4.50 |
Safecure Services Ltd.: Industry Outlook
- Growing demand for integrated security + facility management driven by bank/ATM networks, retail, logistics, healthcare, and quasi-government clients.
- Tech-enabled e-surveillance and analytics-driven response models are improving SLAs and margins versus pure manpower models.
- Outsourcing trend in corporate services (housekeeping, business support, fit-outs) supports multi-year growth for organised players with nationwide reach.
Safecure IPO: Peer Comparison
Safecure Services Ltd. IPO can be compared with peers like Radiant Cash Management Services Ltd, SIS Ltd (Security and Intelligence Services India), CMS Info Systems Ltd, Quess Corp Ltd, and TeamLease Services Ltd. Analysing these companies helps investors understand Safecure’s position in the security, e-surveillance, and facility management sector, providing valuable insights into its growth potential and competitive standing.
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Conclusion
Safecure Services Ltd. provides a diversified, recurring-revenue services play across security, e-surveillance, facility management, and corporate interiors. Financials show steady growth in FY23–FY25 with robust return ratios and moderate leverage. Proceeds aimed at deleveraging + working capital can strengthen the balance sheet and support scale-up.
As with most SME IPOs, consider post-listing liquidity, client-concentration risks in BFSI/ATMs, and execution intensity in manpower-heavy verticals. Align participation with your risk appetite and investment horizon.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
