safety-controls-devices-ltd

Incorporated in 2015 and based in Lucknow, Uttar Pradesh, the company is an integrated Engineering, Procurement, and Construction (EPC) specialist. While its name suggests a focus on safety equipment, it has evolved into a major player in power infrastructure and renewable energy.

Business Verticals

• Power Infrastructure: Designing and commissioning substations (up to 400 KV). They were the first to develop a 220kV GIS Substation in Uttar Pradesh.

• Solar Energy: Turnkey installation and construction of utility-scale solar plants.

• Fire Protection: Installation of specialized firefighting systems for high-voltage substations (up to 765 KV).

• Infrastructure & Healthcare: Recently diversified into hospital construction projects for the Ministry of Ayush.

• EV Infrastructure: Currently expanding into the installation of Electric Vehicle (EV) charging stations.

Track Record

• Revenue Growth: Revenue from operations surged significantly from ₹12.20 Cr (FY23) to ₹100.14 Cr (reported for the period ending Jan 2026).

• Profitability: Net profit (PAT) grew from ₹8.99 Cr (FY23) to an estimated ₹15.97 Cr for the most recent audited period.

• Operational Scale: To date, the company has successfully commissioned 19 substations for various government and private utilities.

• Anchor Interest: The company has already successfully completed its Anchor Investor allocation, raising ₹12.67 crore at the upper price band of ₹80.

Safety Controls & Devices Ltd IPO GMP

As of April 4, 2026, the Grey Market Premium (GMP) is currently ₹0.

Note: Although the GMP is flat today, the anchor portion was fully subscribed by institutional funds like Shine Star Build-Cap and VBCUBE Ventures, which often signals strong underlying demand before the public opening on Monday.

Safety Controls & Devices Ltd IPO Allotment Status

The allotment is scheduled to be finalized on April 9, 2026.

Check Safety Controls Allotment Status To check your status online, visit: [Check Allotment Status Here]

You can verify your status via:

• Registrar's website (Maashitla Securities Private Limited)

• BSE official portal

• Using your PAN number or Application ID

Strengths

• Proven Technical Expertise: High technical barriers to entry, especially in 400KV substation commissioning and GIS technology.

• Government Association: Strong relationship with state and central power utilities ensures a steady pipeline of EPC contracts.

• Diversified Portfolio: Movement into solar, EV charging, and healthcare construction reduces reliance on a single sector.

• In-house Capabilities: Maintains in-house manufacturing, quality control, and R&D facilities in Lucknow.

Weakness

• Sector Concentration: Despite diversification, a large portion of sales still depends on the broader power sector.

• Government Dependency: Vulnerable to changes in government policy, tender processes, and state budget allocations.

• Name Misrepresentation: The company’s name ("Safety Controls") does not fully reflect its current large-scale EPC and power infrastructure operations, which might confuse new investors.

• Regional Concentration: Historically, 100% of revenue has come from projects in just three Indian states.

How the Company Will Use IPO Money

The fresh issue proceeds (₹48.00 Cr) will be utilized for:

• Debt Repayment: For the repayment or prepayment of certain outstanding borrowings.

• Working Capital: To fund the execution of ongoing and upcoming large-scale EPC projects.

• General Corporate Purposes: General growth, branding, and operational expenses.

Lead Manager & Registrar

• Lead Manager: Sobhagya Capital Options Private Limited.

• Registrar: Maashitla Securities Private Limited

• Phone: +91 11 4512 1795

• Email: ipo@maashitla.com