Safety Controls IPO
Market Sentiment
Market Lot Size
IPO Details
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Financial Analysis
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 49.26 | 45.70 | 103.50 |
| Expense | 48.67 | 40.31 | 91.61 |
| Profit (PAT) | 0.43 | 4.01 | 8.99 |
| Total Assets | 66.36 | 74.99 | 120.28 |
| Company | P/E | EPS | Market Cap (Cr) |
|---|---|---|---|
| Viviana Power Tech Limited | 59.47 | 27.68 | 40 |
| Oriana Power Limited | 31.68 | 79.52 | 31 |
Promoters: Rajnish Chopra, Anjali Chopra and Abhishek Chopra
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,38,26,999 | 66.53% |
| Promoter Holding Post Issue | 1,98,26,999 | 46.40% |
Company Information
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.
| Purpose | Amount (Cr) |
|---|---|
| Repayment/prepayment, in part or full of certain of the borrowings | 6.00 |
| Funding the Working Capital Requirements of the Company | 31.50 |
| General Corporate Purpose | - |
Resources & Documents
Safety Controls & Devices Ltd., C-43/28/1,, Nawal Kishore Road, Hazratganj,, Lucknow, Uttar Pradesh, 226001
Safety Controls has set a price band of Rs 75–Rs 80 per share for an issue size of Rs 48 crore. The stock listed with a 3.75% gain versus its issue price on April 13, 2026.
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.
The issue is promoted by Rajnish Chopra, Anjali Chopra and Abhishek Chopra with Sobhagya Capital Options Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards Repayment/prepayment, in part or full of certain of the borrowings (Rs 6 crore) and Funding the Working Capital Requirements of the Company (Rs 32 crore).
Current grey market activity shows a flat premium, indicating muted unofficial demand. Final subscription data records overall subscription at 1.26x, retail at 0.76x, QIB at 1.31x, NII at 2.07x.
On fundamentals, the company is posting revenue growth of 126.5%, a profit margin of 8.7%, return on equity of 30.1% in its most recent reported period. Listed peers in this segment include Viviana Power Tech Limited (P/E 59.47x, market cap Rs 40 crore) and Oriana Power Limited (P/E 31.68x, market cap Rs 31 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as an Avoid view — key indicators are weak enough that the risk-reward looks unfavourable for now. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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