Safety Controls & Devices IPO
Power Infrastructure • ₹48 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Heavy dependence on government or PSU customers
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹80
Lot Size
1600 shares
Issue Size
₹48 Cr
Open
06 Apr 2026
Close
08 Apr 2026
Subscription
1.23×
IPO Schedule
| Issue Open Date | 06 Apr 2026 |
| Issue Close Date | 08 Apr 2026 |
| Listing Date | 12 Apr 2026 |
About Safety Controls & Devices
Safety Controls & Devices Limited is Lucknow-based and operates in the engineering, procurement, and construction (EPC) segment, with activities spanning power infrastructure, renewable energy, fire protection systems, and civil construction. The company is primarily engaged in the design, engineering, supply, installation, testing, and commissioning of transmission substations, as well as the construction of solar power plants, firefighting systems, and hospital infrastructure projects. Its operations are largely focused on turnkey project execution across sectors such as transmission and distribution, solar energy, and public infrastructure. Initially focused on fire protection systems, the company has diversified over time into high-voltage substation projects, including the construction of substations up to 400 kV. It has completed multiple substation projects for government and private sector clients. The company primarily serves government entities, public utilities, and infrastructure-focused organisations.
Company Details
Founders / Promoters
Mr. Rajnish Chopra
Founded
1997
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Safety Controls & Devices — IPOFins Verdict
QuantitativeDriven by overall subscription of 1.2x and elevated disclosed risk (9/10), Safety Controls & Devices listed at a premium of 3.8% to its issue price. SME listings are also thinner and more volatile after listing. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
- The company claims to be experienced in executing projects up to 400 kV AIS substations, which enables it to participate in high-value tenders within the power infrastructure sector.
- A significant portion of the company’s claimed revenue is derived from government contracts. Its established relationships with public sector undertakings and government entities support continued par
- The company claims to maintain working relationships with suppliers and original equipment manufacturers (OEMs), facilitating the procurement of quality materials at competitive prices. This supports
- The company claims to follow a centralised decision-making structure across procurement, project execution, and resource allocation. This approach supports faster decision-making, operational consiste
- The company is ISO 9001:2015 certified and follows defined quality control processes across project execution, supporting consistency in deliverables and compliance with industry standards.
Score breakdown — what drove this verdict
High risk from DRHP → score -1.6
Total demand signal → score 0
Actual listing outcome → score +0.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹80
Listing Price
₹83
Listing Gain/Loss
+3.75%
Listing Date
12 Apr 2026
Price Since Listing
Returns are measured against the ₹80 issue price.
Listing
₹83
+3.8%
1 Week
₹79.9
-0.1%
1 Month
₹87.24
+9.0%
3 Months
₹74.75
-6.6%
Current
₹68.01
-15.0%
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FAQ
What is the price band of Safety Controls & Devices IPO?
The price band is ₹80 per share with a lot size of 1600 shares. Minimum investment: ₹1,28,000.
What does Safety Controls & Devices do?
Safety Controls & Devices Limited is Lucknow-based and operates in the engineering, procurement, and construction (EPC) segment, with activities spanning power infrastructure, renewable energy, fire protection systems, and civil construction. The company is primarily engaged in the design, engineering, supply, installation, testing, and commissioning of transmission substations, as well as the construction of solar power plants, firefighting systems, and hospital infrastructure projects. Its operations are largely focused on turnkey project execution across sectors such as transmission and distribution, solar energy, and public infrastructure. Initially focused on fire protection systems, the company has diversified over time into high-voltage substation projects, including the construction of substations up to 400 kV. It has completed multiple substation projects for government and private sector clients. The company primarily serves government entities, public utilities, and infrastructure-focused organisations.
Should I apply for Safety Controls & Devices IPO?
Safety Controls & Devices listed at ₹83 (+3.8% premium to the ₹80 issue price) after 1.2x subscription. IPOFins Score 3/10: Driven by overall subscription of 1.2x and elevated disclosed risk (9/10), Safety Controls & Devices listed at a premium of 3.8% to its issue price. SME listings are also thinner and more volatile after listing. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
Who founded Safety Controls & Devices?
Safety Controls & Devices was founded by Mr. Rajnish Chopra in 1997.