Safety Controls & Devices IPO runs from April 6 to April 8, priced between ₹75-80 per shareAI Quick ReadThe Safety Controls & Devices IPO started on Monday, April 6 and is set to end on Wednesday, April 8. Safety Controls & Devices IPO price band has been established at ₹75 to ₹80 per equity share, each having a face value of ₹10. Investors are allowed to place bids for a minimum of 1,600 equity shares, with additional shares to be bid in multiples of 1,600.
Safety Controls and Devices functions as an EPC (engineering, procurement, and construction) firm, specializing in substations, solar initiatives, firefighting systems, and healthcare infrastructure projects under the Ministry of Ayush.
The company primarily serves government agencies and utilities, with operations covering both power infrastructure and renewable energy sectors.
The firm secured approximately ₹13 crore from anchor investors prior to the offering, with a significant portion allocated to institutional investors. In the net offering, nearly 49% is set aside for qualified institutional buyers, about 15% for non-institutional investors, and roughly 36% for retail investors.
For retail participants, a minimum investment of ₹2.56 lakh is required to purchase 3,200 shares.
The company has indicated consistent profitability, reporting a profit after tax of ₹8.5 crore for the period ending January 2026, down from ₹9 crore in FY25. Revenue experienced a decline to ₹68 crore from ₹103 crore in the prior financial year, indicating some fluctuations in execution cycles that are common in EPC businesses.
Safety Controls & Devices IPO consists of 60 lakh shares. The funds raised from the IPO will primarily be allocated for working capital needs totaling ₹31.5 crore, with an additional ₹6 crore designated for debt repayment and the remaining amount for general corporate uses. Sobhagya Capital Options Pvt Ltd serves as the lead manager for the book, while Maashitla Securities Pvt Ltd acts as the registrar for this offering.
Safety Controls & Devices IPO subscription status is 7% on day 1 so far, as per chittorgarh.com. The retail portion was subscribed 10%, and NII portion is booked 10%. The QIB segment is yet to be booked.
The company has received bids for 2,94,400 shares against 41,12,000 shares on offer on the first bidding day, at 11:34 IST, according to data on chittorgarh.com.
Safety Controls & Devices IPO GMP today was ₹0, which meant shares were trading at their issue price of ₹80 with no premium or discount in the grey market, according to investorgain.com.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players.
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