Safety Controls & Devices IPO Day 3: Issue sails through on QIB, NII demand; check GMP and other details
Safety Controls & Devices IPO, a book-built offer for ₹48 crore, sailed through on the final day of the bidding today amid strong demand from QIBs and NIIs. The listing for the shares is slated to take place next week on BSE SME.
Safety Controls & Devices IPO: The initial public offering (IPO) of Safety Controls & Devices sailed through on the third and final day of bidding on Wednesday, April 8, following strong demand from the qualified institutional buyers (QIBs) and non-institutional investors (NIIs).
The SME IPO had opened for bidding earlier this week on Monday, April 6. It was booked 33% at the end of the first day and 82% on the second day.
Safety Controls & Devices IPO subscription
As of 3.25 pm today, Safety Controls & Devices IPO had received bids for 54,00,000 shares as against 44,16,000 shares on offer, resulting in an overall demand of 1.22 times so far.
The QIB segment was booked 1.31 times, the NII quota 2.04 times and the retail portion was booked 70%.
Safety Controls & Devices IPO Details
Safety Controls & Devices IPO is a book-built offer for ₹48 crore. The offer is entirely a fresh issue of 0.60 shares, meaning all proceeds will be received by the company.
Safety Controls & Devices IPO price band has been fixed at ₹75 to ₹80 per share. Investors can apply for the offer in lots of 1600 shares, with the minimum investment needed for retail investors being two lots or ₹256,000, based on the upper end of the price band.
The company plans to use the funds raised from the SME IPO for repayment of certain borrowings availed, funding working capital needs and general corporate purposes.
The allotment for Safety Controls & Devices IPO is slated to be finalised on April 9, with the listing likely on the BSE SME platform on April 13.
Safety Controls & Devices IPO GMP
The grey market premium (GMP) for Safety Controls & Devices IPO remains nil. This means that shares of Safety Controls & Devices are trading at par with the offer price in the unofficial market. Safety Controls & Devices IPO GMP has remained nil in the last 10 days.
About Safety Controls & Devices
Safety Controls and Devices specialises in EPC (Engineering, Procurement, and Construction), focusing on substations, solar plants, firefighting equipment, and hospitals for the Ministry of Ayush. Based in Lucknow, Uttar Pradesh, we operate as an engineering enterprise.
The company primarily serves government agencies and utilities, with operations covering both power infrastructure and renewable energy sectors.
Sobhagya Capital Options is the book-running lead manager, and Maashitla Securities is the registrar of the issue.
About the Author
Saloni Goel has over nine years of experience as a business journalist, with a strong track record of covering the financial markets. Over the course of her career, she has reported extensively on global and domestic equities, IPO market activity, commodities, and broader macroeconomic trends. Her reporting reflects a keen eye for detail, data-driven analysis, and the ability to spot emerging themes early.<br> At Mint, Saloni has been part of the markets team for nearly two years, where she currently works as Chief Content Producer. In this role, she plays a key part in shaping market coverage, driving editorial strategy, and ensuring timely, accurate, and insightful reporting across. She has been closely involved in breaking news coverage and in crafting stories that help decode the complex financial developments.<br> Before joining Mint, Saloni worked with some of India’s leading business newsrooms, including The Economic Times and Business Standard. Throughout her career, she has worn multiple hats—ranging from reporting and editing to contributing in-depth features and identifying new storytelling formats and market trends.<br> Her experience in fast-paced digital newsrooms has given her an edge in simplifying complex market concepts without losing analytical depth. Outside of work, Saloni enjoys reading books and spending time with her pet.
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