What is the GMP of Safety Controls & Devices IPO today?

The Grey Market Premium (GMP) for Safety Controls & Devices IPO is currently ₹0. With an upper price band of ₹80, the estimated listing price is ₹80 per share, reflecting an expected listing gain of ~0%. Grey market premiums can fluctuate based on market sentiment and subscription demand.

What is the price band and lot size for Safety Controls & Devices IPO?

The price band for Safety Controls & Devices IPO is ₹75 to ₹80 per equity share. The minimum lot size is 1600 shares, which requires a minimum retail application investment of ₹1,28,000.

What are the important dates for Safety Controls & Devices IPO?

Safety Controls & Devices IPO opens for subscription on 2026-04-06T00:00:00 and closes on 2026-04-08T00:00:00. The basis of allotment is scheduled for 2026-04-09T00:00:00, and shares are expected to list on 2026-04-13T00:00:00 on BSE, NSE.

How can I check the allotment status for Safety Controls & Devices IPO?

You can check Safety Controls & Devices IPO allotment status on the registrar's official portal (Maashitla Securities Pvt Ltd) or through the official BSE and NSE IPO allotment status pages using your PAN number or Application number.

How to apply for Safety Controls & Devices IPO?

Investors can apply for Safety Controls & Devices IPO online through ASBA (Application Supported by Blocked Amount) via their internet banking account, or via UPI using authorized stockbroking platforms like Zerodha, Groww, Angel One, and Upstox.

When does the Safety Controls & Devices IPO open and close?

The IPO opens on 6 Apr 2026, and closes on 8 Apr 2026.

What is Safety Controls & Devices IPO price band?

The issue price band is ₹75.00 to ₹80.00 per equity share.

What is the Safety Controls & Devices IPO lot size?

The minimum lot size is 1600 shares per application.

What is the Safety Controls & Devices IPO allotment date?

The allotment is scheduled on 9 Apr 2026.

Safety Controls & Devices IPO Details - Dates, Price Band, Issue Size

All IPOs

Issue Size

48.00 Cr

Price Band

₹75.00 - ₹80.00

Lot Size

1600 Shares

Min Investment

₹2,56,000

GMP

₹0

Subscription

1.28x

₹42.05 Cr

06 Apr 2026

IPO Opens

COMPLETED

08 Apr 2026

IPO Closes

COMPLETED

09 Apr 2026

Basis of Allotment

COMPLETED

10 Apr 2026

Refunds

COMPLETED

10 Apr 2026

Demat Credit

COMPLETED

13 Apr 2026

Listing

COMPLETED

IPO Timeline

IPO OpensDONE

06 Apr 2026

IPO ClosesDONE

08 Apr 2026

Basis of AllotmentDONE

09 Apr 2026

RefundsDONE

10 Apr 2026

Demat CreditDONE

10 Apr 2026

ListingDONE

13 Apr 2026

About Safety Controls & Devices IPO

Safety Controls IPO open date is April 6, 2026 and the IPO will close on April 8, 2026. Safety Controls IPO is a Book build Issue. The company to raise around ₹48 crores via IPO that comprises fresh issue of ₹48 crores and offer for sale up to [.] equity shares with face value of ₹10 each.

Safety Controls IPO price band is ₹75 to ₹80 per share. The retail quota is 35%, QIB is 50%, and HNI is 15%. Safety Controls IPO to list on BSE SME on April 13, 2026. The allotment of Safety Controls IPO date is April 9, 2026.

The company reported revenue of ₹103.50 crores in 2025 against ₹45.70 crores in 2024. The company reported profit of ₹8.99 crores in 2025 against profit of ₹4.01 crores in 2024. As per the financials the IPO investors should apply the IPO for a long term.

IPO Details

Safety Controls & Devices IPO Details and Specifications
IPO Date	06 Apr 2026 to 08 Apr 2026
Face Value	₹10 Per Share
Price Band	₹75.00 - ₹80.00
Lot Size	1600 Shares
Total Issue Size	Approx 48.00 Cr 60,00,000 Equity Shares
Fresh Issue	Approx 48.00 Cr 60,00,000 Equity Shares
Offer for Sale	Approx 0.00 Cr 0 Equity Shares
Retail Portion	35.96%
Sale Type	Fresh Issue
Issue Type	Bookbuilding IPO
Listing Date	13 Apr 2026
Listing At	BSE
Total Subscription Amount	₹42.05 Cr

Issue Reservation

Investor Category	Shares Offered	% Net Issue
QIB	27,84,000	48.88%
- Anchor	15,84,000	0.00%
- QIB (Ex. Anchor)	12,00,000	0.00%
NII	8,64,000	15.17%
- bNII > ₹10L	5,76,000	0.00%
- sNII < ₹10L	2,88,000	0.00%
Retail	20,48,000	35.96%
Share Holders	TBA	0.00%
Total	56,96,000	100.01%

IPO Lot Size

Application	Lots	Shares	Amount
Individual investors (Retail) (Min)	2	3,200	₹32,000
Individual investors (Retail) (Max)	2	3,200	₹32,000
S-HNI (Min)	3	4,800	₹48,000
S-HNI (Max)	7	11,200	₹1,12,000
B-HNI (Min)	8	12,800	₹1,28,000

About Company

Safety Controls and Devices Limited, founded in 2015, offers complete engineering project services. The firm offers complete EPC services for substations, solar plants, firefighting equipment, and hospitals for the Ministry of Ayush.

From design, supply, installation, testing, to setup, the firm gets involved in every step of transmission substations. Based in Lucknow, Uttar Pradesh, the company mainly works with government organizations.

Most of the firm’s customers are government and private entities, such as State and central government power utilities, Private power entities, and Renewable energy developers. Currently, Safety Controls runs 19 substations and is planning to expand its business into large solar projects and EV charging stations. Moreover, the firm has experience of over 30 years and has completed various turnkey projects.

Contact Details

Safety Controls & Devices Ltd.

C-43/28/1,

Nawal Kishore Road

Hazratganj,

Lucknow, Uttar Pradesh, 226001

+91 05224026070

cs@safetygroup.in

Visit Website

Registrar

Maashitla Securities Pvt Ltd

+91-11-45121795

ipo@maashitla.com

Lead Managers

Sobhagya Capital Options Ltd

Day-wise GMP Trend

Date & Time	GMP (₹)	Est. Listing Price	Est. Gain (%)	Est. Profit / Lot (₹)
13-Apr-2026 12:00 PM	+₹0	₹80	+0.00%	₹0
11-Apr-2026 12:00 PM	+₹0	₹80	+0.00%	₹0
10-Apr-2026 12:00 PM	+₹0	₹80	+0.00%	₹0
09-Apr-2026 12:00 PM	+₹0	₹80	+0.00%	₹0
08-Apr-2026 12:00 PM	+₹0	₹80	+0.00%	₹0
07-Apr-2026 12:00 PM	+₹0	₹80	+0.00%	₹0
06-Apr-2026 12:00 PM	+₹0	₹80	+0.00%	₹0
04-Apr-2026 12:00 PM	+₹0	₹80	+0.00%	₹0
03-Apr-2026 12:00 PM	+₹0	₹80	+0.00%	₹0
02-Apr-2026 12:00 PM	+₹0	₹80	+0.00%	₹0
01-Apr-2026 12:00 PM	+₹0	₹80	+0.00%	₹0
30-Mar-2026 10:00 AM	+₹0	₹80	+0.00%	₹0
29-Mar-2026 10:00 AM	+₹0	₹80	+0.00%	₹0
28-Mar-2026 10:00 AM	+₹0	₹80	+0.00%	₹0

Subscription Status

Category	Subscription (x)	Shares Offered	Shares bid for	Total Amount (₹ Cr)
QIB (Ex. Anchor)	1.31x	12,00,000	15,76,000	₹12.61 Cr
NII	2.45x	8,64,000	21,18,400	₹16.95 Cr
bNII > ₹10L	3.37x	5,76,000	19,42,400	₹15.54 Cr
sNII < ₹10L	0.61x	2,88,000	1,76,000	₹1.41 Cr
Retail	0.76x	20,48,000	15,61,600	₹12.49 Cr
Total	1.28x	41,12,000	52,56,000	₹42.05 Cr

Objects of the Issue

01 Repayment/prepayment, in part or full of certain of the borrowings : 6.00 Cr
02 Funding the working capital requirements of the Company : 31.50 Cr
03 General Corporate Purposes : 4.74 Cr
04 Issue Expenses : 5.76 Cr

Company Financials

Period Ended	31 JAN 2026	31 MAR 2025	31 MAR 2024
Total Income	68.51	103.50	45.70
Profit After Tax	8.52	8.99	4.01
EBITDA	16.21	17.27	8.27
NET Worth	54.47	42.17	17.48
Reserves and Surplus	40.64	28.87	6.98
Total Borrowing	39.18	33.84	29.79

Amount in ₹ Crore

IPO Valuation - KPI

KPI	31 Mar 2025
ROCE	37.39%
Debt/Equity Ratio	0.80
Return on Net Worth (RoNW)	21.32%
PAT Margin	8.77%
EBITDA Margin	16.84%
Net Asset Value (NAV)	₹31.70
Earning Per Share (EPS)	₹6.98

Peer Comparison

Company Name	EPS (₹)	P/E (x)	NAV (₹)	RoNW (%)	Income (₹ Cr)
Oriana Power Limited	79.52	31.68	254.75	31.11	-
Viviana Power Tech Limited	27.68	59.47	97.93	39.96	-

IPO Anchor Investors

Anchor Investors Letter (PDF)

Promoters and Holding Pattern

Rajnish Chopra, Anjali Chopra, Abhishek Chopra are the company's promoters of Safety Controls & Devices.

Particular	Pre IPO	Post IPO
Promoter and Promoter Group	66.53%	46.40%
Others*	33.47%	53.60%

Strengths

The company claims to be experienced in executing projects up to 400 kV AIS substations, which enables it to participate in high-value tenders within the power infrastructure sector.
A significant portion of the company’s claimed revenue is derived from government contracts. Its established relationships with public sector undertakings and government entities support continued participation in tender-based projects and provide visibility for future opportunities.
The company claims to maintain working relationships with suppliers and original equipment manufacturers (OEMs), facilitating the procurement of quality materials at competitive prices. This supports cost efficiency and enhances its ability to submit competitive bids.
The company claims to follow a centralised decision-making structure across procurement, project execution, and resource allocation. This approach supports faster decision-making, operational consistency, and control over project quality.
The company is ISO 9001:2015 certified and follows defined quality control processes across project execution, supporting consistency in deliverables and compliance with industry standards.
The company operates across multiple segments, including power transmission, renewable energy, fire protection, and infrastructure development. This diversification allows it to participate in varied projects and reduces dependence on a single segment.

Risks

The company derives a significant portion of its revenue from the power sector, particularly solar and substation projects. Solar projects contributed Rs 66.73 crore (65.05%) in FY25, Rs 3.50 crore (7.82%) in FY24, and Rs 13.08 crore (27.31%) in FY23. Substations contributed Rs 23.65 crore (23.05%), Rs 36.48 crore (81.58%), and Rs 23.82 crore (49.75%) in the same periods. Such dependence exposes the company to sector-specific risks, including policy changes and demand fluctuations
The company relies heavily on government contracts for its operations. Any delays in approvals, changes in government policies, budgetary constraints, or shifts in administrative priorities may impact project execution and order inflows. Regulatory changes, particularly in sectors such as renewable energy and public infrastructure, may adversely affect revenue visibility and financial performance.
The company derives a substantial portion of its revenue from a limited number of customers. The largest customer contributed Rs 66.73 crore (65.07%), Rs 32.18 crore (71.97%), and Rs 13.08 crore (27.31%) to FY25, FY24, and FY23, respectively. The top 3 customers contributed Rs 96.54 crore (94.13%), Rs 39.97 crore (89.41%), and Rs 36.90 crore (77.07%), while the top 10 customers contributed nearly the entire revenue base across these periods. Loss of any key customer or reduction in order volumes from them may materially impact revenue, profitability, and cash flows.
The company’s contracts are primarily with government entities, which typically involve longer receivable cycles and delayed payments, leading to higher working capital requirements. Additionally, the EPC sector is highly competitive, with aggressive bidding and price sensitivity. This may result in reduced margins, loss of contracts, and pressure from larger competitors employing competitive or predatory pricing strategies.
The company relies significantly on a limited number of suppliers for raw materials. The largest supplier accounted for Rs 49.65 crore (62.74%), Rs 12.74 crore (35.06%), and Rs 6.42 crore (15.05%) of total purchases for FY25, FY24, and FY23, respectively. The top 10 suppliers contributed Rs 65.33 crore (82.55%), Rs 28.66 crore (78.90%), and Rs 21.98 crore (51.50%). Any disruption in supply, pricing changes, or disputes with these suppliers may adversely affect operations and project execution.
The company derives its entire revenue from a limited number of states, primarily Uttar Pradesh and Bihar. Uttar Pradesh alone contributed Rs 101.21 crore (98.68%) in FY25, Rs 40.36 crore (90.28%) in FY24, and Rs 33.63 crore (70.24%) in FY23. Such geographical concentration exposes the company to regional risks, including changes in local demand, regulatory environment, competition, or economic conditions, which may adversely impact revenues and profitability.
The company reported negative cash flow from operating activities of Rs 7.43 crore for FY25, Rs 8.42 crore in FY24, and Rs 13.28 crore in FY23. The company’s negative cash flows from investing activities were Rs 6.42 crore in FY25 and Rs 0.05 crore in FY24. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
As of FY25, the company’s trade receivables were Rs 87.32 crore. Failure to collect these receivables on time or at all can have a negative impact on the business and its financial condition.
As of FY25, the company had outstanding financial indebtedness of Rs 33.84 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.

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About Safety Controls & Devices IPO

IPO Details

Safety Controls & Devices IPO Details and Specifications
IPO Date	06 Apr 2026 to 08 Apr 2026
Face Value	₹10 Per Share
Price Band	₹75.00 - ₹80.00
Lot Size	1600 Shares
Total Issue Size	Approx 48.00 Cr 60,00,000 Equity Shares
Fresh Issue	Approx 48.00 Cr 60,00,000 Equity Shares
Offer for Sale	Approx 0.00 Cr 0 Equity Shares
Retail Portion	35.96%
Sale Type	Fresh Issue
Issue Type	Bookbuilding IPO
Listing Date	13 Apr 2026
Listing At	BSE
Total Subscription Amount	₹42.05 Cr

Investor Category

Shares Offered

% Net Issue

QIB

27,84,000

48.88%

- Anchor

15,84,000

0.00%

- QIB (Ex. Anchor)

12,00,000

0.00%

NII

8,64,000

15.17%

- bNII > ₹10L

5,76,000

0.00%

- sNII < ₹10L

2,88,000

0.00%

Retail

20,48,000

35.96%

Share Holders

TBA

0.00%

Total

56,96,000

100.01%

Application

Lots

Amount

Individual investors (Retail) (Min)

3,200

₹32,000

Individual investors (Retail) (Max)

3,200

₹32,000

S-HNI (Min)

4,800

₹48,000

S-HNI (Max)

11,200

₹1,12,000

B-HNI (Min)

12,800

₹1,28,000

About Company

Contact Details

Safety Controls & Devices Ltd.

C-43/28/1,

Nawal Kishore Road

Hazratganj,

Lucknow, Uttar Pradesh, 226001

+91 05224026070

cs@safetygroup.in

Visit Website

Date & Time

GMP (₹)

Est. Listing Price

Est. Gain (%)

Est. Profit / Lot (₹)

13-Apr-2026 12:00 PM

+₹0

₹80

+0.00%

₹0

11-Apr-2026 12:00 PM

+₹0

₹80

+0.00%

₹0

10-Apr-2026 12:00 PM

+₹0

₹80

+0.00%

₹0

09-Apr-2026 12:00 PM

+₹0

₹80

+0.00%

₹0

08-Apr-2026 12:00 PM

+₹0

₹80

+0.00%

₹0

07-Apr-2026 12:00 PM

+₹0

₹80

+0.00%

₹0

06-Apr-2026 12:00 PM

+₹0

₹80

+0.00%

₹0

04-Apr-2026 12:00 PM

+₹0

₹80

+0.00%

₹0

03-Apr-2026 12:00 PM

+₹0

₹80

+0.00%

₹0

02-Apr-2026 12:00 PM

+₹0

₹80

+0.00%

₹0

01-Apr-2026 12:00 PM

+₹0

₹80

+0.00%

₹0

30-Mar-2026 10:00 AM

+₹0

₹80

+0.00%

₹0

29-Mar-2026 10:00 AM

+₹0

₹80

+0.00%

₹0

28-Mar-2026 10:00 AM

+₹0

₹80

+0.00%

₹0

Safety Controls & Devices IPO Details

About Safety Controls & Devices IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

IPO Anchor Investors

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Safety Controls & Devices IPO open and close?

What is Safety Controls & Devices IPO price band?

What is the Safety Controls & Devices IPO lot size?

What is the Safety Controls & Devices IPO allotment date?

What is the Safety Controls & Devices IPO listing date?

What is the minimum investment required in Safety Controls & Devices IPO?

Join the discussion

Safety Controls & Devices IPO Details

About Safety Controls & Devices IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

IPO Anchor Investors

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Safety Controls & Devices IPO open and close?

What is Safety Controls & Devices IPO price band?

What is the Safety Controls & Devices IPO lot size?

What is the Safety Controls & Devices IPO allotment date?

What is the Safety Controls & Devices IPO listing date?

What is the minimum investment required in Safety Controls & Devices IPO?

Join the discussion