Synopsis: The SME segment is gearing up for a busy start to the week as two public issues, Safety Controls & Devices Limited and Emiac Technologies Limited, are scheduled for their stock exchange debut on Monday, April 13, 2026. Both companies concluded their subscription periods on April 8 and have finalized allotments.
Safety Controls & Emiac Technologies IPO Listing Day Guide
As the markets prepare for these listings, the “Grey Market” sentiment appears cautious. Both issues are currently trading at muted premiums, suggesting that investors may see a flat to marginal listing. Below is a detailed breakdown of what to expect for each company.
1. Safety Controls & Devices Limited (BSE SME)
Safety Controls & Devices operates as an EPC (Engineering, Procurement, and Construction) player focusing on specialized infrastructure like fire safety systems and solar projects.
Listing Expectations & GMP
- Grey Market Premium (GMP): As of today, the GMP is hovering at ₹0 (Flat).
- Estimated Listing Price: Based on the upper price band of ₹80, the shares are expected to debut around the same level.
- Market Sentiment: Specifically, the flat GMP indicates a lack of “listing gain” hype, with the market focusing on the company’s long-term government order book rather than immediate speculative gains.
Subscription & Allotment Recap
| Category | Subscription Status |
| Retail Portion | 0.76x |
| NII (HNI) Portion | 2.45x |
| QIB Portion | 1.31x |
| Overall Subscription | ~1.28x |
2. Emiac Technologies Limited (BSE SME)
Emiac Technologies is a digital solutions provider specializing in AI-based marketing, branding, and business automation.
Listing Expectations & GMP
- Grey Market Premium (GMP): Similar to Safety Controls, Emiac is trading at a ₹0 premium in the unofficial market.
- Estimated Listing Price: With a cap price of ₹98, the stock is likely to list between ₹95 and ₹100.
- Expert Verdict: Analysts view this as a “Hold for Long Term” play. While the listing might be flat, the company’s 21% PAT margin and shift toward AI services provide strong fundamentals for future growth.
Subscription & Allotment Recap
| Category | Subscription Status |
| Retail Portion | 3.74x |
| NII (HNI) Portion | 5.32x |
| QIB Portion | 1.02x |
| Overall Subscription | ~3.30x |
Key Timeline for Investors
| Event | Date |
| Basis of Allotment | April 9, 2026 (Completed) |
| Initiation of Refunds | April 10, 2026 (Ongoing) |
| Credit of Shares to Demat | April 10, 2026 (Ongoing) |
| Listing Date | Monday, April 13, 2026 |
Also read about Om Power Transmission IPO Day 2
What This Means for a Layman
If you applied for these IPOs, tomorrow is “Judgment Day.” Since the “Grey Market” (where people guess the price before it officially starts) is showing zero premium, don’t expect the stock price to double on the first day.
Instead, these companies are listing at a “fair value.” Consequently, if you are an allottee, you may see the stock open very close to the price you paid (₹80 for Safety and ₹98 for Emiac). For long-term investors, the real story will begin after the listing as these companies use the IPO funds to expand their operations.
Disclaimer: The views expressed are for informational purposes only and do not constitute financial advice. Investing in stocks and IPOs involves significant risk.forgeup.in is not liable for any financial losses. Always consult a certified investment advisor before making any decisions.