By Wealthova | Last Updated: September 25, 2026
Acme Universal Safezone 9 Limited, an established player in the Indian Personal Protective Equipment (PPE) sector, is gearing up to make its primary market debut with an upcoming ₹35.93 Crore SME IPO. Operating as a premier manufacturer of industrial and occupational safety footwear under the ‘ACME’ brand, the company focuses on delivering a diversified portfolio that includes 15 product lines across EVA-rubber, nitrile rubber, and PVC sole variants, designed to provide critical protection against impact, electrical shock, heat, chemicals, and slipping. The business operates a highly targeted B2B and institutional sales model—backed by a robust production presence across five manufacturing facilities in Madhya Pradesh and Uttar Pradesh, and an extensive distribution network with warehousing at over 40 locations across India. Empowered by stringent international safety certifications (including BIS, EN ISO, and ASTM) and advanced manufacturing technology, Acme Universal Safezone efficiently captures the growing demand within India’s industrial safety sector while actively exporting to global markets like the UAE, Saudi Arabia, and the Netherlands. The subscription window for this book-built issue opens on September 28, 2026, and closes on September 30, 2026. The price band is set between ₹65 to ₹71 per equity share. The ₹35.93 Crore offering comprises entirely a Fresh Issue (50.61 lakh shares), with absolutely no Offer for Sale (OFS) component. Retail investors must apply for a minimum of 2 lots (3,200 shares), requiring an investment of ₹2,27,200 at the upper price band. The company plans to utilize the fresh capital primarily to fund major capital expenditure for installing additional machinery (₹8.96 Crore) and setting up solar power plants (₹3.62 Crore), alongside meeting incremental working capital requirements (₹8.00 Crore) and pursuing inorganic growth. Set to list on the BSE SME platform, market participants are closely watching this fast-growing manufacturing enterprise, backed by a robust FY26 total income of ₹211.16 Crore and a net profit of ₹5.86 Crore. Below, we break down the financial health, industry risk factors, and our honest Smart Market Insights to help you decide if you should subscribe to this issue!
September 28, 2026
September 30, 2026
₹65 to ₹71
(Book Built)1,600 Shares
(Min. 2 Lots / 3,200 Shares for Retail)₹35.93 Cr
(50.61 Lakh Shares)₹35.93 Cr
(Entirely Fresh Issue, No OFS)35.00% Allocation
(Of the Net Offer)₹10 Base
SME (BSE SME)
Incorporated in 1994 and headquartered in Gwalior, Madhya Pradesh, Acme Universal Safezone 9 Limited is a premier manufacturer and supplier of industrial safety footwear under the trusted 'ACME' brand. Operating within the critical Personal Protective Equipment (PPE) segment, the company utilizes an integrated B2B and institutional distribution strategy to capture large-scale demand across domestic and international markets. Its operations are driven by two core pillars:
The upcoming ₹35.93 Crore SME IPO is entirely a Fresh Issue of ₹35.93 Crore (50.61 lakh shares). There is absolutely no Offer for Sale (OFS) component, ensuring that all raised capital is retained within the company to drive its next phase of industrial scaling.
The net proceeds from the fresh capital are strategically allocated across the following primary objectives:
₹12.58 Crore is allocated for core infrastructure upgrades. This includes ₹8.96 Crore for installing advanced machinery (like automated cutting/foaming machines) and ₹3.62 Crore for setting up solar power plants across three facilities.
An estimated ~₹8.98 Crore is explicitly earmarked to pursue inorganic growth through unidentified acquisitions and strategic industry partnerships to expand the company's PPE market share.
₹8.00 Crore is dedicated to meeting incremental working capital constraints, ensuring the company can smoothly finance large-scale raw material procurement (rubber, PVC polymers) and manage inventory cycles.
The residual balance of approximately ~₹6.37 Crore will cover the mandatory IPO issue expenses, localized marketing initiatives, and serve as a liquidity buffer for general corporate contingencies.
| 📅 Period Ended | 📈 Total Income | 💼 Net Worth | 💰 PAT | 🏦 Assets |
|---|---|---|---|---|
| FY 2024 | ₹181.67 | ₹46.11 | ₹7.56 | ₹119.07 |
| FY 2025 | ₹191.31 | ₹46.91 | ₹0.80 | ₹133.70 |
| FY 2026 | ₹211.16 | ₹52.77 | ₹5.86 | ₹146.72 |
| Financial KPI (Mar 31, 2026)* | Value |
|---|---|
| Return on Capital Employed (ROCE) | 5.54% (FY26) |
| EBITDA Margin | 7.36% (FY26) |
| PAT Margin | 2.84% (FY26) |
| Debt to Equity Ratio | 1.10x (FY26) |
| Return on Net Worth (RoNW) | 11.75% (FY26) |
| Earnings Per Share (EPS) | ₹4.17 (Pre-IPO) | ₹3.07 (Post-IPO) |
| Price/Earning (P/E) Ratio | 17.03x (Pre-IPO) | 23.13x (Post-IPO) |
| Net Asset Value (NAV) | ₹37.60 (Pre-IPO) |
| Price to Book (P/B) | 1.89x (At Offer Price) |
| Market Cap at Offer Price | ₹99.63 Cr (Pre-IPO) | ₹135.56 Cr (Post-IPO) |
| Shareholder Category | Pre-IPO Holding | Post-IPO Holding |
|---|---|---|
| Promoter & Promoter Group | 94.88% | 69.73% |
| Public / Institutional / Others | 5.12% | 30.27% |
Acme Universal Safezone 9 Limited enters the BSE SME market backed by its founding promoters, Nitin Tiwari and Ruchi Tiwari. Prior to the IPO, the promoter group maintained dominant control, holding a massive 94.88% equity stake in the company. The ₹35.93 Crore offering is entirely a Fresh Issue, with absolutely no Offer for Sale (OFS) from the existing promoters. Post-listing, the issuance of new equity will organically dilute the promoter holding to a still-dominant 69.73%. By retaining such a substantial majority of the outstanding equity, the founding management ensures tight strategic alignment with incoming public shareholders as they deploy the capital to fund machinery expansion and solar plant installations.
| Company Name | EPS (₹) | P/E Ratio (Post-IPO) | NAV (₹) |
|---|---|---|---|
| Acme Universal Safezone 9 Limited (IPO) | 4.17 | 23.13x | 37.60 |
| Mallcom (India) Ltd. | 48.15 | 20.76x | 510.21 |
| Superhouse Ltd. | 2.87 | 54.74x | 455.07 |
| Liberty Shoes Ltd. | 6.59 | 40.82x | 137.20 |
Acme Universal Safezone 9 Limited enters the BSE SME platform as a highly established manufacturer of industrial safety footwear, operating under the well-recognized 'ACME' brand since 1994. The company's core strength lies in its integrated B2B manufacturing model, operating five advanced facilities across MP and UP. By producing highly specialized PPE gear (across 15 product lines) that meets strict international BIS and EN ISO standards, Acme has successfully secured robust institutional demand from core sectors like mining, oil & gas, and heavy engineering, while maintaining a solid export footprint across the UAE and Europe. Financially, the company has demonstrated impressive top-line scale, with Total Income growing from ₹181.67 Crore in FY24 to ₹211.16 Crore in FY26.
However, prospective investors must be comfortable with the inherent volatility of heavy manufacturing. The company's bottom line experienced a severe contraction in FY25, where Profit After Tax (PAT) plummeted to just ₹0.80 Crore (down from ₹7.56 Crore in FY24) before recovering to ₹5.86 Crore in FY26. This volatility underscores the company's exposure to raw material pricing (polymers and rubber) and high working capital intensity. Positively, the ₹35.93 Crore IPO is a 100% Fresh Issue. Management is prudently allocating these funds towards tangible growth drivers: ₹8.96 Crore for advanced machinery to boost yields, ₹3.62 Crore for solar power to cut long-term energy overheads, and ₹8.00 Crore specifically to ease working capital constraints.
From a valuation standpoint, the issue is priced reasonably. At the upper price band of ₹71 per share, the IPO demands a post-issue P/E multiple of 23.13x (based on diluted FY26 EPS of ₹3.07) and a Price-to-Book (P/B) multiple of 1.89x, pegging the post-issue market capitalization at ₹135.56 Crore. Compared to listed peers like Mallcom India (20.76x P/E) and Liberty Shoes (40.82x P/E), Acme Universal is priced in line with industry averages, offering fair value for a company with a 30-year operational history and deep B2B moats. While the minimum retail investment is steep at ₹2,27,200 (2 lots / 3,200 shares), the promoters' decision to retain a massive 69.73% post-issue stake signals strong confidence in future execution. Given the company's established brand equity, global certifications, and clear capex roadmap, we assign a SUBSCRIBE (FOR LONG TERM) rating. It is best suited for patient investors looking for exposure to India's growing industrial and infrastructure ecosystem.
Disclaimer: The information provided above is for educational and informational purposes only and does not constitute financial advice. Initial Public Offerings (IPOs) carry market risks, and equity investments are subject to broader market fluctuations. Wealthova is not a SEBI-registered investment advisor. Always consult with a certified financial planner and conduct your own due diligence before locking up capital in any public issue.
| Role / Entity | Contact & Details |
|---|---|
| 📋 IPO Registrar |
Maashitla Securities Pvt.Ltd.
Phone: 011-45121795
Email: investor.ipo@maashitla.com
|
| 🏢 Company Contact |
Acme Universal Safezone 9 Ltd.
Registered Office: Near Twelve Shops Girwai Naka, A. B. Road, Gwalior, Madhya Pradesh, 474001
Phone: +91 93008 70326
Email: compliance@acmeuniversal9.com
|
| 💼 Merchant Bankers |
Expert Global Consultants Pvt.Ltd.
Book Running Lead Manager |