Safety Controls IPO was launched through the Book Built SME route by Safety Controls & Devices Limited. The public issue consisted entirely of a fresh issue of equity shares, allowing the company to raise capital for business expansion, project execution, working capital requirements, and other corporate purposes. After the completion of the public issue process, the company’s equity shares were listed on the BSE SME platform.
Safety Controls & Devices Limited operates in the engineering and infrastructure sector by providing engineering, procurement, and construction (EPC) services. The company undertakes projects related to electrical infrastructure, power systems, industrial safety solutions, fire protection systems, renewable energy, and civil engineering works. Its business model focuses on delivering complete engineering solutions for government organisations, public sector enterprises, and private sector clients.
The company manages projects from planning and engineering through procurement, installation, testing, commissioning, and maintenance. It also executes specialised contracts involving electrical installations, industrial safety equipment, fire detection systems, and infrastructure development projects.
By focusing on technical expertise, quality standards, and efficient project execution, the company aims to deliver reliable engineering solutions while maintaining long-term customer relationships. Continuous investment in skilled professionals and engineering capabilities supports its long-term business strategy.
India’s infrastructure sector continues to grow with increasing investments in power transmission, industrial development, renewable energy, public infrastructure, and safety systems. These developments create favourable opportunities for engineering and EPC companies with strong execution capabilities.
Since the IPO has already been completed and the shares are listed, investors should evaluate the company’s financial performance, project execution capability, order book, industry outlook, and future growth plans before making an investment decision.
Safety Controls IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Safety Controls IPO |
| Company Name | Safety Controls & Devices Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹75 to ₹80 Per Share |
| Issue Size | ₹48.00 Crore |
| Fresh Issue | ₹48.00 Crore |
| Offer for Sale | Nil |
| Total Shares Offered | 60,00,000 Equity Shares |
| IPO Open Date | 06 April 2026 |
| IPO Close Date | 08 April 2026 |
| Basis of Allotment | 09 April 2026 |
| Refund Initiation | 10 April 2026 |
| Shares Credited to Demat Account | 10 April 2026 |
| Listing Date | 13 April 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 1,600 Equity Shares |
| Registrar | Bigshare Services Private Limited |
| Book Running Lead Manager | Interactive Financial Services Limited |
The IPO consisted entirely of a fresh issue of equity shares. The funds raised were proposed to support business expansion, strengthen working capital, execute ongoing projects, and meet general corporate requirements.
Safety Controls IPO Dates
| IPO Event | Date |
|---|---|
| IPO Opening Date | 06 April 2026 |
| IPO Closing Date | 08 April 2026 |
| Basis of Allotment | 09 April 2026 |
| Refund Initiation | 10 April 2026 |
| Shares Credited to Demat Account | 10 April 2026 |
| Listing Date | 13 April 2026 |
Following the completion of the allotment process, successful applicants received the allotted shares in their demat accounts before trading commenced on the BSE SME platform.
Safety Controls IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation under each investor category depended on the number of valid applications received during the subscription period.
Safety Controls IPO Lot Size
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 1 Lot (1,600 Shares) | ₹1,28,000 |
| Retail Maximum | 2 Lots (3,200 Shares) | ₹2,56,000 |
| HNI Minimum | 3 Lots (4,800 Shares) | ₹3,84,000 |
The application values shown above have been calculated using the upper price band of ₹80 per equity share.
About Safety Controls & Devices Limited
Safety Controls & Devices Limited operates in the engineering, procurement, and construction (EPC) sector by providing integrated engineering solutions for infrastructure and industrial projects. The company undertakes projects involving electrical infrastructure, power distribution systems, fire protection systems, industrial safety solutions, renewable energy installations, and civil engineering works. It serves government departments, public sector enterprises, industrial organisations, and private sector clients across various project categories.
The company focuses on delivering complete project execution services by managing every stage of a project, including engineering, procurement of materials, installation, testing, commissioning, and maintenance. Its objective is to provide reliable engineering solutions while maintaining quality standards, timely project execution, and long-term customer relationships.
Business Operations
Safety Controls & Devices Limited operates across multiple engineering and infrastructure segments, enabling the company to provide comprehensive project execution services through an integrated business model.
- Engineering, Procurement and Construction (EPC) Services – The company undertakes complete EPC projects covering engineering design, procurement, execution, installation, testing, and project commissioning.
- Electrical Infrastructure Projects – It executes projects related to electrical distribution systems, substations, transmission infrastructure, industrial electrical installations, and power supply networks.
- Fire Protection Systems – The company provides design, installation, testing, and maintenance of fire detection, fire alarm, and fire suppression systems for industrial and commercial facilities.
- Industrial Safety Solutions – It supplies and installs various industrial safety systems that help organisations improve workplace safety and comply with operational safety requirements.
- Renewable Energy Projects – The company participates in renewable energy-related infrastructure projects, including electrical works associated with sustainable energy installations.
- Civil Construction Services – In addition to engineering works, the company undertakes civil construction activities that support infrastructure development and integrated project execution.
- Testing and Commissioning – The company performs testing, inspection, commissioning, and quality verification before handing over completed projects to clients.
- Maintenance Services – It also provides operation and maintenance support for completed engineering projects to ensure long-term system performance and reliability.
- Project Management – Dedicated project management teams monitor project planning, resource allocation, execution schedules, quality control, and timely completion of contracts.
- Government and Industrial Projects – The company executes projects for government organisations, public sector undertakings, infrastructure developers, and private industrial customers across multiple sectors.
Industry Overview
India’s engineering and infrastructure sector continues to expand due to increasing investments in power generation, electricity transmission, renewable energy, industrial development, urban infrastructure, transportation, and public utilities. Government initiatives supporting infrastructure modernisation, smart cities, industrial corridors, and energy development continue to generate opportunities for engineering and EPC companies.
Growing demand for industrial safety systems, fire protection infrastructure, electrical upgrades, and sustainable energy projects has further strengthened the long-term outlook for companies operating in this sector. Increasing infrastructure expenditure is expected to support continued demand for integrated engineering and project execution services.
Business Strategy
Safety Controls & Devices Limited aims to strengthen its position in the engineering and infrastructure industry by expanding its project portfolio, improving execution capabilities, investing in technical expertise, and strengthening customer relationships. The company also focuses on maintaining quality standards, efficient project delivery, and operational excellence while exploring opportunities across both public and private sector projects.
Through continuous improvement in engineering capabilities, skilled manpower, project management, and technology adoption, the company seeks to enhance operational efficiency, expand its market presence, and achieve sustainable long-term business growth.
Safety Controls IPO Financial Information
A company’s financial performance provides investors with insights into its revenue growth, profitability, financial stability, and operational efficiency. Analysing financial results over multiple years helps in understanding the company’s business expansion and long-term growth potential.
Safety Controls & Devices Limited Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹96.84 Crore | ₹134.57 Crore | ₹178.42 Crore |
| Total Income | ₹97.31 Crore | ₹135.28 Crore | ₹179.16 Crore |
| EBITDA | ₹12.28 Crore | ₹17.61 Crore | ₹24.08 Crore |
| Profit Before Tax (PBT) | ₹8.67 Crore | ₹12.84 Crore | ₹18.46 Crore |
| Profit After Tax (PAT) | ₹6.48 Crore | ₹9.56 Crore | ₹13.79 Crore |
| Net Worth | ₹24.31 Crore | ₹33.87 Crore | ₹47.66 Crore |
| Total Borrowings | ₹18.52 Crore | ₹22.81 Crore | ₹27.63 Crore |
The company has reported consistent growth in revenue and profitability over the last three financial years. Revenue increased steadily due to the expansion of project execution activities, while profit growth reflected improving operational efficiency and better project management. The increase in net worth indicates a strengthening financial position, supporting the company’s future expansion plans.
Safety Controls IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors evaluate the company’s profitability, capital utilisation, financial efficiency, and overall operating performance.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 31.42% |
| Return on Capital Employed (ROCE) | 27.68% |
| Return on Net Worth (RONW) | 28.93% |
| EBITDA Margin | 13.44% |
| PAT Margin | 7.70% |
| Debt-to-Equity Ratio | 0.58 |
| Earnings Per Share (EPS) | ₹10.21 |
| Net Asset Value (NAV) Per Share | ₹35.28 |
| Price to Earnings (P/E) | 7.84x |
The financial ratios indicate healthy profitability, efficient utilisation of capital, and a balanced financial structure. The company’s return ratios reflect effective business operations, while stable margins indicate consistent project execution. Investors should evaluate these indicators together with the company’s order book, future projects, industry outlook, and overall valuation before making an investment decision.
Objects of the Safety Controls IPO
The company proposed to utilise the net proceeds from the fresh issue for the following purposes:
- Working Capital Requirements – A significant portion of the IPO proceeds is proposed to strengthen working capital for executing ongoing and future engineering projects.
- Business Expansion – The company plans to utilise funds to expand its engineering capabilities, increase project execution capacity, and strengthen operational infrastructure.
- Purchase of Equipment and Infrastructure – Part of the proceeds will be invested in equipment, machinery, and infrastructure required for improving operational efficiency and project execution.
- General Corporate Purposes – The remaining funds will be utilised for general corporate activities, providing financial flexibility for future business opportunities.
The proposed utilisation of IPO proceeds is expected to strengthen the company’s operational capabilities, improve execution capacity, support business expansion, and enhance long-term growth prospects.
Safety Controls IPO Listing Performance
The listing performance indicates how the company’s shares performed on the stock exchange after the completion of the IPO. While listing gains reflect initial investor sentiment, long-term investment returns primarily depend on the company’s financial performance, project execution capabilities, order inflow, and future business growth.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 13 April 2026 |
| Issue Price | ₹80 Per Share |
| Listing Price | ₹92.00 Per Share |
| Listing Gain | ₹12.00 Per Share |
| Listing Gain (%) | 15.00% |
Safety Controls & Devices Limited made a positive debut on the BSE SME platform by listing above its issue price. Although the stock generated a listing premium, investors should evaluate the company’s long-term business fundamentals rather than relying only on first-day market performance.
Safety Controls IPO Subscription Status
The subscription figures indicate the level of demand received from different categories of investors during the IPO bidding period. Strong subscription generally reflects positive market interest, although investment decisions should always be supported by an assessment of the company’s financial performance and business prospects.
Safety Controls IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 84.67 Times |
| Non-Institutional Investors (NII) | 201.45 Times |
| Retail Individual Investors (RII) | 96.84 Times |
| Total Subscription | 118.39 Times |
The IPO received strong participation across all investor categories. Non-institutional investors recorded the highest subscription level, while qualified institutional buyers and retail investors also showed significant interest in the public issue.
Safety Controls IPO Review
Safety Controls & Devices Limited operates in the engineering and infrastructure sector by providing engineering, procurement, and construction services for electrical infrastructure, industrial safety systems, fire protection solutions, renewable energy projects, and civil engineering works. The company executes projects for government departments, public sector enterprises, industrial organisations, and private sector clients.
Its integrated project execution model enables the company to manage projects from engineering and procurement through installation, testing, commissioning, and maintenance. This comprehensive approach helps maintain quality standards while supporting efficient project delivery.
The company has reported consistent growth in revenue, profitability, and net worth over recent financial years. Improvement in financial performance reflects expanding business operations and stronger project execution capabilities.
However, investors should also consider risks such as project execution delays, dependence on infrastructure spending, competitive bidding, fluctuations in raw material prices, and working capital requirements before making an investment decision.
Overall, Safety Controls & Devices Limited operates in an industry supported by increasing infrastructure investment and growing demand for engineering solutions. Investors should carefully evaluate the company’s financial position, order book, execution capability, valuation, and future growth opportunities before investing.
Safety Controls IPO Strengths
Safety Controls & Devices Limited has established its presence in the engineering and EPC sector through technical expertise, diversified project execution, and long-term customer relationships.
- Integrated EPC Business Model – The company provides complete engineering, procurement, construction, installation, testing, commissioning, and maintenance services under a single business model.
- Diversified Project Portfolio – It undertakes projects related to electrical infrastructure, fire protection systems, industrial safety solutions, renewable energy, and civil engineering.
- Experienced Project Execution – The company has experience in managing projects for government organisations, public sector undertakings, industrial customers, and private enterprises.
- Consistent Financial Growth – Revenue, profitability, and net worth have shown steady improvement over recent financial years, reflecting expanding business operations.
- Technical Expertise – A skilled engineering workforce and project management capabilities enable the company to execute projects while maintaining quality and operational standards.
- Growing Infrastructure Sector – Continued investment in power infrastructure, industrial development, renewable energy, and public infrastructure creates long-term business opportunities.
Safety Controls IPO Risk Factors
Every engineering business is exposed to operational, financial, and industry-related risks. Investors should carefully evaluate the following factors before making an investment decision.
- Project Execution Risk – Delays in project execution, approvals, or completion may affect revenue recognition and profitability.
- Dependence on Infrastructure Spending – Business growth is influenced by investment in infrastructure, industrial projects, and government development programmes.
- Competitive Industry – The engineering and EPC sector is highly competitive, with numerous companies competing for infrastructure contracts.
- Working Capital Intensive Business – Project execution requires substantial working capital for procurement, labour, equipment, and ongoing operations.
- Raw Material Price Fluctuations – Changes in the prices of construction materials, electrical equipment, and engineering components may impact project costs and operating margins.
- Regulatory and Contractual Compliance – Engineering projects require compliance with technical specifications, contractual obligations, and regulatory requirements. Any non-compliance may affect project execution and business performance.
Safety Controls IPO Promoters
Safety Controls & Devices Limited is promoted by experienced professionals with backgrounds in engineering, infrastructure development, and project execution. The promoters have played an important role in expanding the company’s engineering capabilities, strengthening client relationships, and supporting long-term business growth through efficient project management and operational excellence.
Safety Controls IPO Promoters Details
| Promoter | Designation |
|---|---|
| Mr. Sanjay Kumar Agarwal | Promoter & Managing Director |
| Mrs. Sunita Agarwal | Promoter & Whole-Time Director |
Safety Controls IPO Management Team
The company is managed by professionals with experience in engineering, project management, finance, infrastructure development, procurement, quality assurance, and regulatory compliance. The management team focuses on improving project execution, expanding operational capabilities, maintaining quality standards, and supporting sustainable business growth.
| Name | Designation |
|---|---|
| Sanjay Kumar Agarwal | Managing Director |
| Sunita Agarwal | Whole-Time Director |
| Rajesh Kumar Sharma | Chief Financial Officer |
| Pooja Gupta | Company Secretary & Compliance Officer |
Safety Controls IPO Registrar Details
The registrar manages IPO-related activities, including processing applications, finalising the basis of allotment, crediting shares to successful applicants, initiating refunds where applicable, and resolving investor-related queries.
| Particular | Details |
|---|---|
| Registrar Name | Bigshare Services Private Limited |
| Website | https://www.bigshareonline.com |
| IPO Allotment Status | https://ipo.bigshareonline.com/IPO_Status.html |
| Email ID | [email protected] |
| Contact Number | +91-22-6263 8200 |
Safety Controls IPO Lead Manager Details
The Book Running Lead Manager coordinated the public issue process, managed regulatory compliance, assisted the company throughout the IPO, and supervised various issue-related activities.
| Particular | Details |
|---|---|
| Lead Manager | Interactive Financial Services Limited |
| Website | https://www.ifinservices.in |
| Email ID | [email protected] |
| Contact Number | +91-79-4908 8000 |
Safety Controls & Devices Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Safety Controls & Devices Limited |
| Registered Office | Ahmedabad, Gujarat, India |
| Website | https://www.safetycontrols.in |
| Email ID | [email protected] |
How to Check Safety Controls IPO Allotment Status
Investors could check the IPO allotment status after the basis of allotment was finalised by using either the registrar’s portal or the BSE IPO platform.
Through Bigshare Services Private Limited
- Visit the official Bigshare Services IPO allotment portal.
- Select Safety Controls IPO from the available list.
- Choose PAN Number, Application Number, or DP/Client ID.
- Enter the required details correctly.
- Click Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Safety Controls IPO from the IPO list.
- Enter your PAN Number or Application Number.
- Complete the verification process if required.
- Click Search to view the allotment status.
Frequently Asked Questions (FAQs)
What is the Safety Controls IPO?
Safety Controls IPO was a Book Built SME public issue comprising a fresh issue of equity shares.
What was the price band of the Safety Controls IPO?
The IPO was offered at a price band of ₹75 to ₹80 per equity share.
What was the total issue size of the Safety Controls IPO?
The total issue size was ₹48.00 crore.
When did the Safety Controls IPO open and close?.
The IPO opened on 6 April 2026 and closed on 8 April 2026.
On which stock exchange are Safety Controls shares listed?
The company’s equity shares are listed on the BSE SME platform.
Who was the registrar for the Safety Controls IPO?
Bigshare Services Private Limited acted as the registrar to the issue.
Who was the lead manager for the Safety Controls IPO?
Interactive Financial Services Limited served as the Book Running Lead Manager.
What was the minimum lot size for the Safety Controls IPO?
The minimum application size was one lot consisting of 1,600 equity shares.
What does Safety Controls & Devices Limited do?
The company provides engineering, procurement, and construction (EPC) services for electrical infrastructure, industrial safety systems, fire protection solutions, renewable energy projects, and civil engineering works.
What were the objectives of the Safety Controls IPO?
The IPO proceeds were proposed to be utilised for working capital requirements, business expansion, purchase of equipment, infrastructure development, and general corporate purposes.
