Safe Enterprises Retail Fixtures Completes Acquisition of Remaining Stake in Subsidiary SERTPL
Safe Enterprises Retail Fixtures Limited announced key outcomes from its Board of Directors meeting held on June 11, 2026, approving the complete acquisition of the balance equity stake in its subsidiary, Safe Enterprises Retail Technologies Private Limited (SERTPL), and formalizing appointments for the company's statutory and internal auditors.The acquisition aims to make SERTPL a Wholly Owned Subsidiary (WOS) of the Company. The proposed transaction involves acquiring 5.74% of SERTPL from promoter shareholders, including Mr. Mikdad Saleem Merchant, Mr. Huzefa Saleem Merchant, and Mr. Saleem Shabbir Merchant.
The details concerning the acquisition are as follows:
| Particulars | Details |
|---|---|
| Entity Acquired | Safe Enterprises Retail Technologies Private Limited (SERTPL) |
| Industry of SERTPL | Retail Fixtures, Shopfitting and Retail Infrastructure Solutions |
| Total Stake in SERTPL (Post-acquisition) | 100% |
| Shares Acquired | 28,677 equity shares |
| Percentage Acquired | 5.74% |
| Nature of Consideration | Cash Consideration |
| Estimated Acquisition Price Range | ₹4300/- to ₹4400/- per equity share (subject to final valuation) |
Auditor Appointments and Re-appointment
The Board meeting also approved the re-appointment of a statutory auditor and the appointment of an internal auditor for the upcoming financial year.M/s. A D V & Associates, a Mumbai-based chartered accountancy firm established in 2007, has been re-appointed as the Statutory Auditor. This re-appointment covers one financial year, running from the conclusion of the Annual General Meeting for 2025-26 until the conclusion of the Annual General Meeting of Financial Year 2026-27.
M/s. APRA & Associates LLP, a professional services firm with over three decades of experience in audit and assurance, has been appointed as the Internal Auditor for the financial year 2026-27.
Details regarding the firms are provided below:
| Firm Type | Professional Services Firm | Particulars | Details |
|---|---|---|---|
| Statutory Auditors (Re-appointment) | M/s. A D V & Associates | Profile | Multidisciplinary firm offering statutory audit, internal audit, tax advisory, and management consultancy. |
| Internal Auditors (New Appointment) | M/s. APRA & Associates LLP | Profile | Provides services including internal audits, statutory audits, risk assessment, and regulatory compliance audits across various industries. |
SERTPL Operational Overview
SERTPL, which operates in the retail fixtures industry, was incorporated on February 24, 2020, and maintains a manufacturing unit in Pune, Maharashtra. The company is engaged in designing, engineering, manufacturing, and trading shopfittings and retail fixtures.The turnover details for SERTPL over the last two financial years are as follows:
| Financial Year | Turnover (Rs. In Lakhs) |
|---|---|
| 2025-26 | 5368.53 |
| 2024-25 | 4249.47 |
SAFEENTP Stock Price Movement
Today, Safe Enterprises Retail Fixtures Limited saw its stock tumble, closing down 6.58% to finish the session at ₹257.65. The equity experienced significant pressure throughout the day, trading down to a low of ₹255.00 during the market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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