BSE SME Safety Controls rings the bell, but momentum loses steam

The scrip was listed at Rs 83, a 3.75% premium to the initial public offer (IPO) price. The stock is currently down 2% over its listing price.

The counter hit a high of Rs 84.40 and a low of Rs 80.53. About 14.37 lakh shares of the company changed hands at the counter.

Safety Controls & Devices' IPO was subscribed 1.26 times. The issue opened for bidding on 6 April 2026 and it closed on 8 April 2026. The price band of the IPO was fixed between Rs 75 to 80 per share.

The IPO comprised fresh issue of 60,00,000 equity shares. The company intends to utilize the net proceeds for repayment/prepayment, in part or full of certain of borrowings, to meet incremental working capital requirements and for general corporate purpose.

Ahead of the IPO, Safety Controls & Devices on 2 April 2025, raised Rs 12.67 crore from anchor investors. The board allotted 15.84 lakh shares at Rs 80 per share to 5 anchor investor.

Safety Controls & Devices is an EPC company that delivers turnkey solutions across substations, solar projects, firefighting systems and hospital infrastructure, mainly for government clients. With over 30 years of experience and operations spanning 19 substations, it has built strong ties with power utilities and renewable energy players. The company is expanding into solar and EV charging, and leverages its technical expertise, supplier network, skilled workforce and experienced leadership to execute reliable, high-quality projects. As on 27 March 2025, the company had 77 permanent employees.

The company recorded revenue from operations of Rs 67.43 crore and net profit of Rs 8.52 crore for the period ended 31 January 2026.