Safety Controls & Devices IPO subscribed 88% so far on final day; check allotment date and steps

Safety Controls & Devices IPO: EPC company Safety Controls & Devices' initial public offering has been subscribed 88% so far on the final day of bidding on Wednesday, April 8. It got bids for 38,92,800 shares as against 44,16,000 shares on offer, according to the BSE data until 12:31 pm.

Non-institutional investors' (NIIs') quota has been subscribed 1.96 times, while qualified institutional buyers (QIBs) booked their part 31%. The category for individual investors was subscribed 60%.

The ₹48 crore initial share sale is solely a fresh issuance of 60 lakh shares, with no offer for sale (OFS) component.

The net proceeds from the fresh issue will be used for repayment of certain borrowing, funding working capital requirements and general corporate purposes.

With a price band of ₹75 to ₹80 per share, a lot consists of 1,600 shares. The minimum investment for an individual investor is two lots or 3,200 shares.

Safety Controls & Devices is in the engineering, procurement and construction (EPC) business, with a focus on the installation of sub-stations, construction of solar power plants, and installation of firefighting equipment. Currently, the company is also undertaking some construction projects for hospitals for the Ministry of Ayush.

Safety Controls & Devices IPO allotment and listing date

Safety Controls & Devices IPO allotment status is expected to be finalised on Thursday, April 9. The listing on the SME platform of the BSE will occur on April 13.

How to check Safety Controls & Devices IPO allotment status on BSE

• Go to this link: https://bseindia.com/investors/appli_check.aspx
• Issue type should be kept as ‘Equity’
• From the ‘Issue Name’ list, pick ‘Safety Controls & Devices Ltd’
• Enter any one: IPO application number or PAN details
• Press the ‘Search’ button

Steps to check Safety Controls & Devices IPO allotment status on Maashitla Securities

• Visit registrar's IPO page: https://maashitla.com/allotment-status/public-issues
• Select 'Safety Controls & Devices Ltd' from the dropdown list
• Enter either PAN/Application Number/Demat Account Number
• Hit the ‘Submit’ button to check status