Acme Universal Safezone IPO: Allotment Status, GMP, Listing Date and Review
Maker of industrial safety footwear for construction, oil and gas, mining, auto and pharma, with four plants in Madhya Pradesh and Uttar Pradesh and exports to the Gulf, Africa and Europe.
Strong demand for a sizeable safety footwear maker, but profit has swung wildly, margins are thin, debt is high and the P/E is about 23 times.
Our own view, not investment advice.
Subscription by category
Final subscription, 30 Sep 2026, 5:53 PM
Key numbers
FY26, restated
| Revenue | ₹211.16 cr |
| Net profit | ₹5.86 cr |
| Net margin | 2.8% |
| Employees | 1,073 |
| Debt to equity | 1.10 |
| Anchor money | ₹10.21 cr |
IPO timeline
Allotment was finalised on 1 Oct. Refunds and demat credits go out on 5 Oct, and shares list on Tuesday 6 Oct.
Acme Universal Safezone 9 makes the steel-toe boots and specialised safety shoes worn on construction sites, oil rigs, mines and factory floors. With ₹211 crore in revenue and more than 1,000 employees, it is larger than most SME issuers. Its ₹35.93 crore IPO was subscribed 23.41 times.
Allotment is done and shares list on BSE SME on 6 October. The grey market premium of about ₹11 points to a listing gain of around 15%. Behind the demand, though, are thin and volatile profits.
Acme Universal Safezone IPO at a glance
| Detail | Acme Universal Safezone IPO |
|---|---|
| Company name | Acme Universal Safezone 9 Ltd |
| Issue size | ₹35.93 crore (50,60,800 shares, entirely fresh issue) |
| Issue price | ₹71 per share (face value ₹10) |
| Lot size | 1,600 shares |
| Individual investor minimum | 2 lots, 3,200 shares (₹2,27,200) |
| Quota | QIB 49.90%, Retail 35.02%, NII 15.08% |
| Anchor round | ₹10.21 crore on 25 Sep 2026 |
| Bidding dates | 28 Sep to 30 Sep 2026 |
| Allotment | 1 Oct 2026 |
| Refund and demat credit | 5 Oct 2026 |
| Listing | 6 Oct 2026 on BSE SME |
| Market cap | About ₹135.56 crore post-issue |
| Promoter holding | 94.88% before, 69.73% after |
| Lead manager | Expert Global Consultants |
| Registrar | Maashitla Securities |
| Market maker | JSK Securities & Services |
With 10,193 retail applications for about 526 two-lot slots, roughly one in 19 retail applicants will have received shares.
What Acme Universal Safezone actually does
Acme Universal Safezone 9 Ltd was incorporated in November 2016 and is promoted by Nitin Tiwari and Ruchi Tiwari. It makes personal protective footwear across 15 product lines with EVA-rubber, nitrile rubber and PVC soles, designed to protect against impact, compression, penetration, electric shock, static, heat, fire, chemicals and slipping.
Customers are in construction, oil and gas, mining, automotive, pharma, chemicals, foundries and power. Shoes are made at four facilities in Madhya Pradesh and Uttar Pradesh and sold directly to institutions, through regional distributors and online, backed by more than 40 warehouses. Exports go to the UAE, Bahrain, Saudi Arabia, Nigeria, Israel, the Netherlands, Hong Kong, Cameroon and Mauritius.
The IPO funds new machinery (₹8.96 crore), a solar power plant (₹3.62 crore), working capital (₹8 crore) and acquisitions or general purposes.
The numbers behind the business
Here are the figures from the offer documents, in ₹ crore, as reported by IPO data sites.
| ₹ crore | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 181.67 | 191.31 | 211.16 |
| EBITDA | 14.55 | 9.85 | 15.15 |
| Net profit | 7.56 | 0.8 | 5.86 |
| Net worth | 41.96 | 46.91 | 52.77 |
| Borrowings | 44.51 | 49.65 | 58.05 |
| Total assets | 119.07 | 133.7 | 146.72 |
What these numbers tell us, in plain language:
- Revenue grows steadily. Revenue rose from ₹181.7 crore in FY24 to ₹191.3 crore in FY25 and ₹211.2 crore in FY26.
- Profit is volatile. Net profit was ₹7.56 crore in FY24, collapsed to ₹0.80 crore in FY25 and recovered to ₹5.86 crore in FY26. Net margin was just 2.8% in FY26.
- Debt is high and returns are low. Borrowings rose to ₹58 crore, debt to equity was 1.10 and ROCE only 5.5% in FY26.
- The valuation is full. Post-issue P/E is about 23x on FY26 earnings, although price to book is a more modest 1.9x.
How the subscription ended
| Category | Final (30 Sep) |
|---|---|
| QIB | 31.29x |
| bNII | 39.48x |
| sNII | 16.99x |
| Retail | 15.23x |
| Total | 23.41x |
Anchors put in ₹10.21 crore on 25 September. By the close on 30 September, QIBs had bid 31.29 times, big HNIs 39.48 times, small HNIs 16.99 times and retail 15.23 times, for 23.41 times overall.
The GMP story so far
The grey market premium was about ₹11 on 4 October, roughly 15% over the ₹71 issue price, pointing to a listing near ₹82.
How to check Acme Universal Safezone IPO allotment status
- Go to the Maashitla Securities IPO allotment page, or the BSE allotment status page.
- Select Acme Universal Safezone from the list of issues.
- Enter your PAN, application number or DP/Client ID.
- Submit to see how many shares you were allotted.
The basis of allotment was finalised on 1 October 2026. Refunds and share credits to demat accounts are scheduled for 5 October, and shares list on BSE SME on 6 October.
The listing outlook
A premium listing near ₹82 looks likely. Anchor lock-ins until 31 October and 30 December limit early institutional selling.
What to weigh before you apply
Thin, volatile margins
Safety footwear is a competitive, price-driven market, and raw material costs for rubber and PVC can swing. That is how profit fell to under ₹1 crore in FY25.
Debt and low returns
A ROCE of 5.5% means the business currently earns less on its capital than many fixed deposits. The IPO helps reduce leverage, but returns need to improve materially.
Strengths and risks
Strengths
- Subscribed 23.41 times with ₹10.21 crore from anchors
- Sizeable business: ₹211 crore revenue, four plants, 1,000+ staff
- Exports to nine countries
- Steady revenue growth
- Entirely fresh issue; no promoter is selling
Risks
- Net margin of just 2.8%
- Profit swung from ₹7.56 crore to ₹0.80 crore to ₹5.86 crore
- Debt to equity of 1.10 and ROCE of 5.5%
- Post-issue P/E of about 23x
- Raw material price swings
Scouter verdict: A real manufacturing business with good demand for its IPO, but the earnings record is too volatile and returns too low to justify a high score. A listing gain looks likely; the long-term case needs better margins. This is our own view, not investment advice.
Your chances of getting an allotment
- Retail investors bid 15.23 times their quota of about 1,052 lots. With 10,193 retail applications competing for roughly 526 two-lot allotments, about one in 19 applicants will have received shares.
What to watch from here
- Listing price on 6 October against ₹71
- Whether margins recover towards FY24 levels
- Debt after the IPO
- Anchor lock-in expiry on 31 October
Acme Universal Safezone IPO: frequently asked questions
Allotment was finalised on 1 October 2026. You can check it on the Maashitla Securities website or the BSE allotment page using your PAN or application number.
Shares list on BSE SME on Tuesday, 6 October 2026.
The grey market premium was about ₹11 on 4 October 2026, roughly 15% over the issue price. GMP is unofficial and can change quickly.
It was subscribed 23.41 times overall, with QIB at 31.29x, NII at 31.98x and retail at 15.23x.
Disclaimer: This article is for information and education only and is not investment advice. GMP is unofficial and data may differ between sources. Read the RHP and consult a SEBI-registered adviser before investing. Data as of 4 October 2026.
On this page
Key valuation
| P/E (pre-issue) | 17.0x |
| P/E (post-issue) | 23.1x |
| P/B | 1.9x |
| ROE | 11.8% |
| ROCE | 5.5% |
| Debt to equity | 1.10 |
| Anchor money | ₹10.21 cr |
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