Published: 29 March 2026 | 5.45 AM
Last Updated: 29 March 2026 | 6.00 AM
IPO Overview / Intro
| Particulars | Details |
|---|---|
| IPO Overview | Safety Controls IPO is a book-built SME IPO of Rs. 48.00 Cr. The issue is entirely a fresh issue of 60,00,000 shares. The IPO opens on 6 April 2026 and closes on 8 April 2026. Safety Controls & Devices Ltd. is an EPC-focused engineering company engaged in substations, solar projects, firefighting systems and institutional infrastructure projects, with a strong focus on government and utility-linked work. |
Safety Controls IPO GMP – Latest Update
| Particulars | Details |
|---|---|
| GMP Status | GMP is not available / not established from the data provided. |
| GMP Note | Grey market premium may change daily and unofficially indicates listing sentiment. |
Safety Controls IPO Subscription Status – Live Update
| Particulars | Details |
|---|---|
| Subscription Status | Live subscription data is not available in the provided source. |
| Update Note | Retail, NII and QIB subscription figures are generally updated during the bidding period. |
👉 | GMP | Reviews | Subscription | Allotment
IPO Details at a Glance
| Particulars | Details |
|---|---|
| IPO Date | 6 April 2026 to 8 April 2026 |
| Listing Date | 13 April 2026 |
| Face Value | Rs. 10 per share |
| Price Band | Rs. 75 to Rs. 80 per share |
| Lot Size | 1,600 Shares |
| Issue Type | Book Build IPO |
| Listing At | BSE SME |
| Total Issue Size | 60,00,000 shares aggregating up to Rs. 48.00 Cr |
| Fresh Issue | 60,00,000 shares aggregating up to Rs. 48.00 Cr |
| Market Maker Portion | 3,04,000 shares aggregating up to Rs. 2.00 Cr |
| Fresh Issue Ex-Market Maker | 56,96,000 shares aggregating up to Rs. 46.00 Cr |
| Net Offered to Public | 56,96,000 shares aggregating up to Rs. 46.00 Cr |
| Shareholding Pre Issue | 1,38,26,999 shares |
| Shareholding Post Issue | 1,98,26,999 shares |
| Sale Type | Fresh capital only |
| Market Cap Pre-IPO | To be declared |
IPO Timetable
| Event | Date |
|---|---|
| IPO Open | Monday, 6 April 2026 |
| IPO Close | Wednesday, 8 April 2026 |
| Allotment | Thursday, 9 April 2026 |
| Refund | Friday, 10 April 2026 |
| Credit of Shares | Friday, 10 April 2026 |
| Listing | Monday, 13 April 2026 |
Reservation
| Investor Category | Reservation |
|---|---|
| QIB | Not more than 50% of the Net Issue |
| Retail | Not less than 35% of the Net Issue |
| NII | Not less than 15% of the Net Issue |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 3,200 | Rs. 2,56,000 |
| Retail Maximum | 2 | 3,200 | Rs. 2,56,000 |
| S-HNI Minimum | 3 | 4,800 | Rs. 3,84,000 |
| S-HNI Maximum | 7 | 11,200 | Rs. 8,96,000 |
| B-HNI Minimum | 8 | 12,800 | Rs. 10,24,000 |
Company Details
| Particulars | Details |
|---|---|
| Company Name | Safety Controls & Devices Ltd. |
| Incorporation | June 2015 |
| Business Profile | The company specializes in EPC (Engineering, Procurement and Construction) services. |
| Key Segments | Substations, solar plants, firefighting equipment and hospitals for the Ministry of Ayush |
| Operating Base | Lucknow, Uttar Pradesh |
| Customer Profile | Primarily government entities and undertakings |
| Key Client Universe | State and central government power utilities, private power entities and renewable energy developers |
| Operating Footprint | Operates 19 substations and is expanding into utility-scale solar and EV charging stations |
| Experience | Has completed turnkey projects for 30 years |
| Certification | ISO 9001:2015 |
| Employees | 75 permanent employees as on 30 September 2025 |
| Competitive Strengths | Details |
|---|---|
| Strength 1 | Well-established association with government entities |
| Strength 2 | Good relationship with OEMs and suppliers |
| Strength 3 | Centralized decision-making approach for procurement, workforce deployment, project scope and execution |
| Strength 4 | Experienced leadership and efficient management team |
| Promoters | Details |
|---|---|
| Promoter Names | Rajnish Chopra, Anjali Chopra and Abhishek Chopra |
| Address Details | Details |
|---|---|
| Registered Office | C-43/28/1, Nawal Kishore Road, Hazratganj, Lucknow, Uttar Pradesh – 226001 |
| Phone | +91 05224026070 |
| cs@safetygroup.in |
| Intermediaries | Details |
|---|---|
| Lead Manager | Sobhagya Capital Options Pvt. Ltd. |
| Registrar | Maashitla Securities Pvt. Ltd. |
| Registrar Contact | +91-11-45121795-96 |
| Registrar Email | ipo@maashitla.com |
Financials
| Particulars (Rs. Cr) | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Assets | 120.28 | 74.99 | 66.36 |
| Total Income | 103.50 | 45.70 | 49.26 |
| Profit After Tax | 8.99 | 4.01 | 0.43 |
| EBITDA | 17.27 | 8.27 | 2.63 |
| Net Worth | 42.17 | 17.48 | 12.47 |
| Reserves and Surplus | 28.87 | 6.98 | 2.97 |
| Total Borrowing | 33.84 | 29.79 | 18.52 |
| Financial Highlights | Details |
|---|---|
| Revenue Growth FY25 vs FY24 | 126% |
| PAT Growth FY25 vs FY24 | 124% |
Valuation
| KPI | Value |
|---|---|
| ROE | 30.14% |
| ROCE | 37.39% |
| Debt/Equity | 0.80 |
| RoNW | 21.32% |
| PAT Margin | 8.77% |
| EBITDA Margin | 16.84% |
| Promoter Holding | Pre Issue | Post Issue |
|---|---|---|
| Promoter Shareholding | 66.53% | 46.40% |
| Objects of the Issue | Estimated Amount |
|---|---|
| Repayment / prepayment of certain borrowings | Rs. 6.00 Cr |
| Funding working capital requirements | Rs. 31.50 Cr |
| General corporate purposes | Not specified |
Chanakya View
| Section | Details |
|---|---|
| Investment Summary | Safety Controls IPO is an SME issue focused on EPC execution in substations, solar, firefighting and government-linked infrastructure segments. The company has posted strong growth in FY25, with Total Income rising to Rs. 103.50 Cr and PAT to Rs. 8.99 Cr. Its dependence on government and utility-related work offers visibility, but also brings execution and working-capital risk. The IPO proceeds are largely proposed for working capital and debt repayment, which is typical for project-driven businesses. Margins and return ratios appear healthy on FY25 numbers. Investors should note the SME liquidity risk and project execution dependency before applying. |
| Chanakya View | The issue looks growth-oriented from a financial momentum perspective, but it remains suitable mainly for investors who understand SME IPO risk, EPC business cycles and execution dependence. |
FAQs
| Question | Answer |
|---|---|
| What is Safety Controls IPO GMP today? | GMP is not available in the provided data. |
| What is the Safety Controls IPO price band? | The price band is Rs. 75 to Rs. 80 per share. |
| What is the Safety Controls IPO lot size? | The lot size is 1,600 shares, while the retail application size is 2 lots or 3,200 shares. |
| When will Safety Controls IPO list? | The tentative listing date is 13 April 2026. |
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