Acme Universal Safezone 9 IPO

Acme Universal Safezone 9 IPO is a ₹35.93 crore book-built issue comprising an entirely fresh issue of 50.61 lakh shares.

Expert Global Consultants Private Limited is the book-running lead manager, while Maashitla Securities Private Limited is the registrar to the issue.

Industry Outlook

• India is currently the 4th largest exporter of safety footwear globally, after China, Italy, and Germany, supported by its tanning base, cost efficiency, and skilled workforce.
• Safety footwear includes protective shoes and boots designed to protect workers from heavy impacts, sharp objects, chemical spills, slips, and electrical hazards.
• Manufacturing is concentrated in key clusters across Uttar Pradesh (Kanpur and Agra) and Tamil Nadu (Chennai, Ambur, and Ranipet).
• Demand, traditionally driven by mining, construction, and oil & gas, is expanding into light manufacturing, warehousing, e-commerce logistics, healthcare, and renewable energy.
• Enforcement of the Occupational Safety, Health and Working Conditions (OSHWC) Code, 2020, along with DGMS and PESO guidelines, is strengthening workplace PPE compliance.
• The National Industrial Corridor Development Programme (NICDP) is developing 12 industrial corridors and over 4,000 mapped industrial parks, supporting demand for certified workplace safety equipment.
• India attracted USD 748.78 billion in gross FDI between FY 2014 and FY 2025, while manufacturing FDI increased 18% to USD 19.04 billion in FY 2025. Multinational companies entering India are also adopting global safety standards across supplier networks.
• Government initiatives such as the Indian Footwear and Leather Development Programme (IFLADP), with an allocation of ₹1,700 crore, along with Make in India and Zero Defect Zero Effect (ZED), support technology upgrades, automation, and sustainable manufacturing.
• India produces around 3 billion sq. ft. of leather annually, accounting for nearly 13% of global output and supporting the domestic supply of heavy-duty footwear uppers.
• Domestic production of Polyurethane (PU) and PVC systems supports lightweight, dual-density, anti-slip, and water-resistant soles, reducing import dependence.
• Natural rubber production reached 8.82 lakh tonnes in FY 2025, recording a 3.8% CAGR from FY 2022 and supporting the production of heat- and abrasion-resistant outsoles.
• Safety footwear manufacturers are increasingly replacing steel toe caps with lightweight fibreglass, Kevlar, and carbon fibre composites to improve comfort and electrical resistance.
• Indian safety footwear exports increased nearly 48% from ₹647.75 crore in FY 2021 to ₹959.19 crore in FY 2025.
• In FY 2025, the United Arab Emirates was the largest export market, accounting for 16.98% of exports at ₹162.91 crore, supported by construction, oil & gas, and regional re-export demand.

Acme Universal Safezone 9 IPO Objectives

The company plans to utilise the net proceeds from the IPO for the following purposes:

• Solar Power Plants: ₹362.40 lakh for installing solar power systems at three manufacturing facilities.
• Additional Machinery: ₹895.62 lakh for plant modernisation and process automation.
• Working Capital: ₹800.00 lakh to meet incremental working capital requirements.
• Inorganic Growth & Corporate Purposes: To fund potential acquisitions, joint ventures, and general corporate expenses.

About Acme Universal Safezone Limited

Acme Universal Safezone 9 Limited, operating under the ACME brand, is engaged in the manufacture of personal protective equipment (PPE), with a focus on industrial and occupational safety footwear.

The business was originally established in 1994 as a partnership firm, M/s Acme Fabrik Plast Co., before being converted into Acme Universal Safezone 9 Private Limited in November 2016 and subsequently into a public limited company in July 2025.

The company manufactures 15 product lines under the ACME brand, using dual- and triple-density PU, PVC, EVA, and nitrile rubber soles. Its products are designed to provide protection against impact, puncture, heat and fire, electrical shock, chemical spills, and slip hazards.

The company is promoted by Nitin Tiwari, Managing Director, and Ruchi Tiwari. Its registered office is in Gwalior, Madhya Pradesh, while its corporate office is located in Andheri West, Mumbai, Maharashtra.

It supplies institutional and industrial customers across construction, mining, oil & gas, heavy engineering, automotive, chemical processing, logistics, and PSUs.

Its manufacturing facilities are located in Gwalior and Banmore in Madhya Pradesh and Kanpur in Uttar Pradesh. The company holds ISO 9001, ISO 14001, ISO 45001, BIS IS 15298, and CE certifications, supporting its presence in domestic and export markets across the Middle East, Africa, and Europe.

Financial Performance of Acme Universal Safezone Limited

Acme Universal Safezone Limited Peer Comparison