Safe Enterprises Retail Fixtures Limited Acquires Remaining Stake in SERTPL, Aims for Wholly Owned Subsidiary Status

Safe Enterprises Retail Fixtures Limited Acquires Remaining Stake in SERTPL, Aims for Wholly Owned Subsidiary Status​

Safe Enterprises Retail Fixtures Limited announced significant operational developments following its board meeting held on June 11, 2026. The company confirmed the acquisition of the remaining equity stake in M/s. Safe Enterprises Retail Technologies Private Limited (SERTPL), which is set to convert SERTPL into a Wholly Owned Subsidiary (WOS). Additionally, the board approved the re-appointment of statutory and the appointment of internal auditors for the upcoming financial year.

The acquisition pertains to the balance 5.74% equity stake in SERTPL, currently held by specific promoter shareholders including Mr. Mikdad Saleem Merchant, Mr. Huzefa Saleem Merchant, and Mr. Saleem Shabbir Merchant. The transaction is categorized as a related party transaction and will be executed on an arm's length basis.

Acquisition Details and Timeline​

The acquisition of the 5.74% stake involves acquiring 28,677 equity shares in SERTPL. The consideration for this purchase is specified as cash and is expected to fall within the range of ₹4300/- to ₹4400/, subject to the final valuation report from an Independent Registered Valuer.

SERTPL is a company engaged in Retail Fixtures, Shopfitting, and Retail Infrastructure Solutions, having been incorporated on February 24, 2020. The acquisition is intended to facilitate the complete alignment of business interests across the Group, enabling deeper integration of technology platforms and operational decisions.

The turnover details for SERTPL over the last three financial years are presented below:


The company has indicated an indicative timeframe of 60 working days for the completion of the acquisition.

Auditor Appointments Confirmed​

During the meeting, two key professional appointments were made regarding financial oversight. M/s. A D V & Associates, a Mumbai-based multidisciplinary Chartered Accountancy firm established in 2007, was re-appointed as the Statutory Auditors for the company. This 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.

Furthermore, M/s. APRA & Associates LLP, a professional services firm with over three decades of experience in audit and assurance, was appointed as the Internal Auditors for the company to carry out internal audits for the financial year 2026-27.

SAFEENTP Stock Price Movement​

Shares of Safe Enterprises Retail Fixtures Limited slipped by 6.58% in post-market trading today, settling at ₹257.65. Trading activity for the stock included a volume of 77,000 shares, and it hit a day low of ₹255 during the session.