Two IPOs Worth Rs 293 Crore Open Next Week
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- Safety Controls and Devices opens its Rs 48 crore SME IPO for subscription April 6–8 at Rs 75–80 per share, entirely a fresh issue on the BSE SME platform, with proceeds earmarked for debt repayment and working capital.
- The Safety Controls issue had already pulled in Rs 12.67 crore from anchor investors ahead of opening, though the grey market premium currently sits at nil.
- Safety Controls operates in EPC services for substations, solar plants, and infrastructure projects, primarily catering to government entities and power utilities.
- Property Share Investment Trust will open its PropShare Celestia REIT for subscription April 10–16, raising approximately Rs 245 crore entirely as a fresh issue on the BSE.
- The PropShare Celestia REIT is priced at Rs 10 lakh to Rs 10.5 lakh per unit and offers exposure to a commercial real estate asset in Ahmedabad leased to corporates and co-working operators, providing a steady rental income profile.
- India's broader IPO pipeline has moderated in 2026 as global volatility from geopolitical tensions and rising oil prices, combined with weak post-listing performances, has made investors more selective and pushed issuers to delay or recalibrate valuations.
Why it matters: A combined Rs 293 crore raise is modest by recent Indian primary-market standards, and the nil grey market premium on Safety Controls signals muted retail enthusiasm despite Rs 12.67 crore in anchor commitments. With companies now waiting for more stable conditions before launching larger offerings, retail investors chasing listing-day pops face a thinner near-term calendar.
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