Safety controls and Devices Limited

This section provides an overview of the industry outlook, detailing global economic trends, trade policy impacts, and commodity market movements. It discusses a slowing global growth projection, primarily due to rising trade barriers and policy uncertainty, which is expected to weaken growth in 2025. The text also covers various aspects of global inflation, financial conditions, and the impact of trade restrictions on consumer prices and market activity.

The provided text discusses various macroeconomic conditions, including financial market turbulence related to trade policies, cautious monetary policy in Emerging Market Economies (EMDEs), and resilience in India's economy. India's economy showed growth momentum in Q1 of FY26, supported by domestic demand and a favorable monsoon onset, with inflation moderating. India's trade performance remained resilient, and its financial markets showed resilience driven by domestic investor participation. The text also details the critical nature of India's power sector, highlighting its diversification and the need for massive capacity additions to meet increasing electricity demand, alongside significant progress in renewable energy deployment.

The company is primarily engaged in the EPC (Engineering, Procurement, and Construction) business, focusing on installing substations, constructing solar power plants, and installing firefighting equipment. The company also undertakes hospital construction projects for the Ministry of Ayush. Based in Lucknow, Uttar Pradesh, its operations are carried out as an engineering enterprise, and it has experience in turnkey projects across various sectors including transmission and distribution, solar energy, EV charging infrastructure, fire protection systems, and hospital construction. The company possesses domain experience in designing, engineering, supplying, installing, erecting, testing, and commissioning transmission substations, and it primarily caters to government entities and power utilities.

The company has undergone changes, including an acquisition in 2015 and conversion to a public limited company. It holds ISO 9001:2015 certification and focuses on maintaining compliance with health, safety, and security standards to ensure customer satisfaction. The company leverages its experience to provide tailored solutions and aims to become a key EPC entity in the Indian power sector. Key competitive strengths include technical expertise in executing projects up to 400kV AIS substations, established relationships with government entities, and strong connections with OEMs and suppliers.

The company offers services in two main areas: Solar Energy Solutions and Fire Protection Systems. For solar energy, they provide end-to-end services covering design, sourcing, installation, testing, and commissioning to facilitate the transition to renewable energy. They have secured a contract for a 20 MW Solar PV project at NTPC-Rihand, Uttar Pradesh, including subsequent operations and maintenance and annual maintenance contracts. In the fire protection sector, they specialize in turnkey solutions for fire hydrant systems, alarm systems, and emulsifier/nitrogen injection systems used in substations, covering everything from design to final commissioning.

The company has strategically expanded its operations into two high-impact sectors: Electric Vehicle (EV) charging infrastructure development and hospital construction projects for the Ministry of AYUSH. For EV charging, the company offers end-to-end solutions for setting up charging stations, securing orders through a tender-based system with Central Public Sector Units and State Utilities, and has successfully completed projects like a charging station in Port Blair. In the healthcare sector, the company focuses on the civil part of constructing modern hospitals aligned with traditional medicine principles, and these projects are currently under execution.

The company has an order book of Rs. 8,353 lakhs, primarily serving state government power utilities, private power entities, and renewable energy developers. The company maintains agreements with these entities and focuses on acquiring new customers while strengthening relationships with existing ones. The company details a rigorous tendering process involving Notice Inviting Tenders (NIT), bid participation, evaluation, award, project planning, execution, and completion stages. The company's location includes a registered office in Lucknow and a site office in Bihar, and while they do not own major plant and machinery for power transmission, they own certain civil works machinery. The company has 75 permanent employees across various departments and has entered into a Joint Venture with M/s. K. Ramachandra.

The provided text details aspects related to a joint venture between Rao Transmission & Projects Pvt. Ltd. and Safety Controls & Devices Ltd., which involves jointly bidding for and executing works under a specific contract floated by Bihar State Power Transmission Company Limited for turnkey execution of 220 KV transmission line and GIS bays construction projects. Competition in the transmission sector is influenced by geographic region, demography, and project size, with competition encouraged through Tariff based Competitive Bidding (TBCB) to determine transmission charges. The substation and solar energy sectors are dynamic, characterized by various players vying for market share based on factors like technology and financial strategies. The text also outlines various legal and regulatory frameworks applicable to the business, including the Companies Act, SEBI Regulations, various Tax-related Regulations (like Income Tax Act, GST Act, and Customs Act), and laws concerning goods and services, electricity, and standards.

This section primarily details various Indian laws and regulations that apply to the company's operations, covering environmental, intellectual property, labor, and foreign trade aspects. It references numerous acts and rules concerning pollution control, building standards, worker welfare, and insolvency procedures. Furthermore, it outlines regulations related to foreign investment, including rules from the FEMA, and various laws governing the conduct of business in different states and local licensing requirements.

The company operates within a regulatory framework that requires approvals from various local authorities, including Local Panchayats and Metropolitan Development Authorities, as well as state bodies like pollution control boards and electricity boards for factory setups. The company must also comply with several central and state laws concerning property. The company's history involves several name and incorporation conversions, and it is described as a leading EPC contractor specializing in turnkey projects for various power infrastructure. The company has successfully executed contracts for transmission substations and is expanding into utility-scale solar power projects and electric vehicle charging stations.

The provided section details various corporate governance and operational disclosures. It mentions awards received by the company, directs readers to other sections for details on company activities, financial conditions, and management competence. Furthermore, it confirms that the company has not undergone material acquisitions, mergers, or divestments in the last ten years, nor has it had any material agreements with strategic or financial partners, except for a specific joint venture. The text also confirms no recent changes in company activities, no defaults on borrowings, and no involvement in labor disputes.

This section defines various terms and abbreviations used within the Draft Red Herring Prospectus. It specifies that 'Safety Controls & Devices Limited' is a Public Limited Company registered under the Companies Act, 2013, with a registered office in Lucknow. Key personnel such as the Chairman and Managing Director, Chief Financial Officer, and Company Secretary are also defined. The section details various legal and financial terms, including definitions related to the Companies Act, SEBI regulations, and financial performance indicators. It also outlines terms related to the issue process, such as different types of applicants and the process for making bids.

This section details various terms related to the issuance process, including who is eligible to procure applications, the cut-off price determination, and the various parties involved in the issuance. It specifies different types of bidders, such as Individual Bidders, QIBs, and Non-Institutional Bidders, and outlines the process for transferring funds and the roles of various intermediaries and depositories.

This section primarily defines various terms and abbreviations used within the Draft Red Herring Prospectus. It lists numerous regulatory circulars, financial terms, and legal concepts. It also specifies conventions regarding the use of financial data, currency, and various numerical terms like Lakh, Crore, and Million. Furthermore, it clarifies that financial data is derived from restated financial information prepared under Indian GAAP and SEBI (ICDR) Regulations.

The company was incorporated as a private limited company under the Companies Act, 2013, and later converted into a public limited company. The company's name changed from "Safety Controls & Devices Private Limited" to "Safety Controls & Devices Limited". The company is primarily engaged in the EPC business, focusing on the installation of substations, construction of solar plants, and firefighting equipment, in addition to undertaking hospital construction projects for the Ministry of Ayush. The company is based in Lucknow, Uttar Pradesh, and has experience in turnkey projects across various sectors. The draft prospectus details various financial and legal aspects, including shareholding structures and audit qualifications.

The provided section details various disclosures related to the company's promoters, litigation, contingent liabilities, related party transactions, financing arrangements, and share acquisition costs. It notes that there are no contingent liabilities in the restated financial statements and no financing arrangements by promoters or related parties for securities purchases. Furthermore, the company has not contemplated any issuance or placement of Equity Shares from the date of the DRHP until the listing of the Equity Shares, nor has it undertaken any split or consolidation of Equity Shares in the preceding year.

This section details various corporate and procedural information related to the issuance process. It covers the company's incorporation history, registered office details, the board of directors, and the various intermediaries involved in the issue, such as the Book Running Lead Manager, Registrar to the Issue, and various other parties. It also outlines the process for book building, including how the price band will be determined and the allocation of securities to public investors.

The issue involves various investor categories with different allocation rules based on the portion of the issue. A portion of the Qualified Institutional Investor (QIB) portion is reserved for Mutual Funds, while the remainder is allocated to all QIB bidders. Furthermore, a minimum percentage of the net issue must be allocated to Non-Institutional and Individual Bidders, subject to valid bids at or above the Issue Price. All bidders are required to use the ASBA process, and there are specific rules regarding bid withdrawal depending on the investor category. The process involves various timelines and procedures related to bid submission and fund unblocking.

The section details various aspects of the market-making arrangement for the company's equity shares, including rules regarding downside protection and the number of market makers allowed. It outlines procedures for the first day of listing, including pre-opening sessions and how the price band is determined based on the discovered or offer price. Furthermore, it discusses the rights of market makers to withdraw, the responsibilities of the Book Running Lead Manager in appointing replacements, and the monitoring and punitive actions that can be taken against market makers for non-compliance.

This section details the capital structure of the company, including the authorized and issued equity share capital, as well as the history of changes to the authorized capital over time. It outlines various provisions related to the issue of new shares, including allocations to different investor categories, and provides a history of share allotments and rights issues. Furthermore, it clarifies that the company has not issued equity shares for consideration other than cash since incorporation, with the exception of a specific business transfer agreement.

The company has disclosed several preferential allotments of equity shares, including those issued at a price of ₹72 per share. The shareholding pattern as of the Draft Red Herring Prospectus shows that the Promoter and Promoter Group collectively hold 66.53% of the issued equity shares. The document also details various transactions and transfers of equity shares by the promoters since the company's incorporation, including some that were pledged. Furthermore, the company has confirmed that no convertible instruments have been issued since incorporation and no public issues have been made.

This section details various transactions involving equity shares, including initial subscriptions, right issues, and subsequent transfers or gifts. It outlines the shareholding pattern of the Promoters and Promoter Group before and after the issue, confirming that no shares belonging to the Promoters have been pledged. Furthermore, it discusses provisions related to Promoter's Contribution, which is defined as 20% of the post-issue paid-up equity shares, and confirms that these shares are locked-in for a period as per applicable regulations.

This section details various lock-in provisions and transferability rules for equity shares, primarily referencing SEBI (ICDR) Regulations. It specifies different lock-in periods for shares allotted to Anchor Investors, including 90 days and 30 days from the allotment date. Furthermore, it outlines conditions under which locked-in equity shares can be pledged for loans and details the continuation of the lock-in period upon invocation of a pledge. The text also clarifies rules regarding the transferability of locked-in shares between promoters and other parties, ensuring the continuation of the lock-in period. Finally, it mentions that the issue is being made for at least 25% of the post-issue paid-up equity share capital and prohibits certain payments to applicants.

The company intends to raise fresh equity shares up to ₹[●] Lakhs to fund various operational and financial requirements. The proposed utilization of the net proceeds is categorized into three main areas: repayment/prepayment of borrowings, funding working capital requirements, and general corporate purposes. The utilization plan details the expected deployment of these funds across different financial years, with specific limits set for general corporate purposes. The company emphasizes that funding requirements are estimates and subject to changes based on market conditions, and any shortfall in funds will be met through internal accruals or other means.

The company funds the majority of its working capital requirements through internal accruals and borrowings, and it proposes to utilize ₹3,150.00 Lakhs from the Net Proceeds to cover working capital needs for Fiscal Years 2026 and 2027. The business is working capital intensive, requiring additional funding for incremental requirements to support upcoming projects and achieve business plan targets. The company's work involves long-duration EPC projects, which necessitate significant working capital investment due to the time required for revenue recognition and recovery.

The section discusses various aspects related to the issue of securities, including the utilization of proceeds and the associated issue-related expenses. It details that a portion of the gross proceeds can be deployed towards general corporate purposes, subject to limits defined by regulations. Furthermore, it outlines the estimated expenses for the issue, which include various fees and commissions, and specifies how these expenses are to be met from the issue proceeds. The text also covers provisions regarding the monitoring of fund utilization and restrictions on the use of net proceeds for certain investments.

This section provides various financial metrics derived from the Restated Financial Statements, including Price Earnings Ratio (P/E) comparisons, Return on Net Worth (RoNW), Net Asset Value (NAV) per Equity Share, and Key Performance Indicators (KPIs). It details historical performance across different financial years and compares the company's performance against industry peers. The data includes measures such as revenue, profit after tax, cash flows, and various efficiency ratios.

This section details the justification for the issue price of the company's equity shares based on primary and secondary transactions. It outlines various considerations related to the issuance of shares, including the weighted average cost of acquisition for primary issuances and secondary transactions. Furthermore, it explains the rationale for setting the issue price as a multiple of the face value, linking it to the company's key performance indicators and financial ratios.

This section outlines the special tax benefits available to the Company and its shareholders under the Income Tax Act, 1961. For the Company, it details provisions related to the corporate tax rate, the applicability of Minimum Alternate Tax (MAT), and deductions for additional employee costs. For shareholders, it mentions concessional tax rates on long-term and short-term capital gains arising from the transfer of equity shares. Furthermore, it covers special tax benefits under indirect taxes, including rules on taxable supplies, exempt supplies, and options for exporters regarding tax payments and Input Tax Credit refunds.

This section details the process of examining the restated financial information of Safety Controls & Devices Limited for inclusion in the Draft Red Herring Prospectus. The examination was conducted in accordance with various legal requirements, including the Companies Act, ICDR Regulations, and ICAI Guidance Notes. The financial information was compiled by the management and approved by the Board of Directors. The auditors examined the financial statements and made various adjustments and regroupings as deemed appropriate.

This section details the restated financial information, including a summary of assets and liabilities, a profit and loss statement, and a cash flow statement across different fiscal years. The data covers various line items such as revenue, expenses, income, tax, and cash movements. The report includes various disclosures related to trade payables, loans, receivables, inventories, and cash balances.

This section details various accounting policies and notes related to the financial statements, including revenue recognition, foreign currency transactions, investments, property, plant, and equipment, depreciation, inventories, impairment testing, and borrowing costs. It outlines specific accounting treatments for different types of income, expenses, and asset/liability recognition, including provisions for exchange differences and treatment of various employee and retirement benefits.

This section details various accounting policies and restatement adjustments related to the financial information. It covers definitions for earnings per share, tax expense, segment reporting, provisions, contingent liabilities, cash and cash equivalents, leases, and government grants. Furthermore, it outlines the process for restating profit after tax, including adjustments for items like gratuity expense, GST, advances written off, income tax provision, and deferred tax impacts, to align with audited financial statements.

This section details various aspects of the company's financial structure, including the restated statement of share capital, information on shareholders holding significant stakes, and statements regarding reserves and borrowings. The data provided covers different years and pertains to equity shares, reserves, and long-term/short-term borrowings from various financial institutions.

This section details various loan facilities and their terms with different financial institutions, including term loans, and outlines the structure of trade payables. It lists several term loans with varying principal amounts, interest rates, and repayment terms, along with details on various financial instruments and outstanding dues from different creditors. Furthermore, the text provides extensive information regarding the provisions for employee benefits like gratuity and the ageing schedule of trade payables.

This section details various financial statement components, including liabilities, property, plant, and equipment, loans, receivables, inventories, and cash balances, across different fiscal years. It provides breakdowns of various liabilities such as amounts due to MSME suppliers, employee payables, and statutory dues, along with details on assets like tangible fixed assets, trade receivables, and inventories. The data is presented in restated summaries and includes various classifications for trade receivables and notes on the certification of certain figures by the management.

This section details various financial statements and related ratios for Safety Controls & Devices Limited across fiscal years ending March 31st, 2023, 2024, and 2025. It includes statements for Revenue from operations, Other Income, Cost of Materials consumed, Employee Benefits Expense, Finance Costs, Other Expenses, Net Worth, and various earnings per share metrics. The data is presented in tabular format, with notes indicating the basis for the figures and the relationship between different financial components.

This section presents various financial and ratio statements for Safety Controls & Devices Limited across different fiscal years. It includes details on borrowings, shareholders' funds, related party transactions, and several key financial ratios. The data shows fluctuations in liquidity, leverage, profitability, and efficiency metrics between the years.

This section details the CSR expenditure of Safety Controls & Devices Limited across several financial years, outlining the amount required, the amount incurred, and the resulting shortfall or excess. It also provides a list of accounting ratios derived from the restated financial statements, including Net Profit, EBITDA, Return on Net Worth, Earnings per Equity Share, and Net Asset Value per Equity share.

This section details the restated financial statements for the periods ended March 31, 2025, March 31, 2024, and March 31, 2023, presenting key figures for revenue, expenses, and profit. The data shows significant year-over-year changes, including substantial growth in revenue and profit, alongside various factors influencing the changes in costs and other expenses. The text also provides context on the nature of the revenues and expenses, and includes a statement regarding the absence of unusual events or significant economic changes.

The provided text covers various aspects related to known trends, segment reporting, and financial indebtedness of the company. It states that no material adverse impact on revenue or income from continuing operations is expected based on certain factors. The company's business is not seasonal, and it has not announced any new products or services. Furthermore, the text details the aggregate borrowing as of March 31, 2025, and lists numerous secured and unsecured loans from various banks and financial institutions.

This section details the outstanding loan facilities and security arrangements with various lenders as of March 31st, 2025. It also provides a capitalization statement derived from restated financial statements as of March 31st, 2025, showing the breakdown of borrowings and the resulting debt and shareholders' fund ratios.

Investors should be aware that the company faces various risks that could materially affect its business, financial condition, and operations. These risks stem from reliance on specific sectors, exposure to regulatory changes, the breadth of its diversified activities, dependence on key customers and suppliers, and potential issues with statutory compliance. The company's transition into broader infrastructure sectors introduces operational challenges, and reliance on government contracts exposes it to policy shifts. Furthermore, there are concerns regarding the scope of its business activities, the stability of its client base, and potential issues with its financial reporting and regulatory filings.

The company faces risks related to internal control deficiencies, which could lead to penalties under applicable laws if not rectified promptly. There is a history of delayed statutory filings across various regulatory bodies, including GST and ESIC, which may result in penalties affecting operations. Furthermore, the company is exposed to risks from supply chain disruptions, such as raw material shortages or price fluctuations, which can impact project execution timelines and profitability. The business is also vulnerable to competition, where rivals might offer superior services or lower prices, and to risks associated with securing necessary bank guarantees for contracts.

The company faces risks related to working capital requirements, which could lead to liquidity issues, increased borrowing costs, and potential disruptions to operations. There are concerns regarding the lease agreements for the company's offices, as there is no assurance of renewal or finding alternative, favorable locations. Furthermore, participating in the EPC sector involves risks associated with securing bank guarantees, which tie up significant capital, and risks inherent to power sector projects, including political, regulatory, and environmental uncertainties. The company also faces risks from indebtedness, where failure to service debt could impact cash flows and borrowing capacity. Finally, there are concerns about related party transactions and the potential for adverse effects on the company's financial condition.

The risk factors outlined in this section cover various aspects of the company's operations, governance, and financial stability. Risks include potential issues related to the experience of the promoters and directors, the increased scrutiny associated with being a listed company, and the need for significant legal and accounting expenses. Operational risks stem from reliance on third-party service providers and vendors, which could disrupt operations if services are unsatisfactory. Furthermore, there are concerns regarding the execution of projects, including potential delays, modifications, or cancellations due to various factors. The company also faces risks related to contractual disputes, the inability to adequately protect intellectual property, and dependencies on joint venture partners for tenders. Finally, there are concerns about the impact of government contract retention periods on cash flow and the dependency on bank funding for working capital.

The risk factors outlined in this section cover several critical areas for the company. Risks include the potential for business disruption due to the inability to attract and retain qualified personnel, the lack of formal written agreements with suppliers for raw material purchases, and potential penalties for non-compliance with company conversion requirements under the Companies Act, 2013. Furthermore, there are risks related to the implementation schedule for the public issue funds, uncertainty in market price post-issue, potential issues with obtaining and renewing statutory licenses, and risks associated with the collection of client dues. Finally, the section highlights risks related to the adequacy of insurance coverage, potential issues with related party transactions, and the vulnerability of information technology systems.

The risk factors outlined in this section cover various areas including issues related to the utilization of net proceeds, potential dilution from future equity issuances, risks arising from employee misconduct, exposure to global economic and political volatility, changes in the regulatory framework, and risks associated with natural calamities. Furthermore, there are concerns regarding the volatility of the equity share price, the accuracy of reported statistics, and potential impacts from inflation, market fluctuations, and foreign investment restrictions.

This section details the structure and requirements for issuing equity shares to the public, outlining various portions reserved for different investor categories. It specifies the rules under the SEBI (ICDR) Regulations for the issue, including minimum allocations for QIBs, Non-Institutional, and Retail investors. Furthermore, it describes the procedures for allocation, including the possibility of spill-over between investor categories and the allocation of shares to Mutual Funds.

This section details the Statement of Cash Flow for the company across three years, categorized into operating, investing, and financing activities. The data shows fluctuations in cash flow from operations, investing activities, and financing activities over the period. Key movements include changes in working capital, cash generated from operations, cash used in investing activities, and cash flows related to borrowings and equity issuance.

The section details various legal and regulatory proceedings involving the Company, its directors, promoters, and group companies. This includes pending criminal litigation, actions by statutory and regulatory authorities, outstanding tax liabilities, and various disputes related to insurance and contract matters. The text outlines a materiality policy for certain litigations, defining thresholds based on turnover, net worth, or profit/loss, and discloses several specific pending cases across different legal forums.

The section details several pending legal matters, including an arbitration case concerning the invocation of bank guarantees related to a works contract, and various tax liabilities against a promoter. There is also a record of penalties levied against several key personnel by the Registrar of Companies, which are currently under appeal. Furthermore, there are pending demands for tax amounts against a promoter, which have been appealed and remanded for verification of TDS credit.

The section details various approvals and registrations related to the company's business, including tax-related registrations such as PAN, TAN, and GST for both Bihar and Uttar Pradesh. It also lists several registrations under Labour Laws, such as EPF, ESIC, and various contracts related to labour regulations. Furthermore, the section covers business-related approvals like an authorization for electrical installation works, various licenses, and registrations under the Uttar Pradesh Shops and Establishments Act, as well as business-related approvals like a Udyam Registration Certificate. Finally, it lists various intellectual property registrations, including trademarks and a domain name.

The section details various approvals and compliance confirmations related to the issuance process. The company obtained approval from BSE to use its name for the listing of equity shares on the BSE SME. Furthermore, the company confirms that promoters and directors have not been declared as wilful defaulters or fraudulent borrowers by the RBI or other governmental authorities, nor have any securities law violations been committed in the past. The text also confirms compliance with the Companies (Significant Beneficial Ownership) Rules, 2018, and outlines various regulatory filings and agreements related to the issue.

The section details the process for listing the equity shares on the BSE SME Platform, including the application made for permission to list the shares. It outlines penalties for failure to complete listing formalities within a prescribed timeline and the consequences for not allotting equity shares. The text also covers various consents obtained from directors, auditors, and other key personnel, and clarifies that no expert opinions have been obtained for the issue.

This section details various procedural and regulatory aspects related to the issuance of equity shares, including definitions for pricing calculations and various legal frameworks governing the issue. It outlines that the equity shares will be subject to numerous regulations, including the Companies Act, SEBI (ICDR) Regulations, and various SEBI circulars. Furthermore, it specifies the process for application forms, including the use of the UPI mechanism and timelines for listing. The section also covers aspects related to the allotment process, such as minimum application values, trading lots, and the number of minimum allottees required for the issue.

The section details various conditions related to bid processing, timelines, and compliance with SEBI circulars concerning the issue. It outlines compensation clauses for delays in unblocking amounts, specifies requirements for processing fees related to UPI Bidders, and sets timelines for reporting non-adherence to timelines by Bid Registrars. Furthermore, it discusses the process for revising the Price Band and extending the Bid/Issue Period, as well as various regulations regarding minimum subscription levels and migration to the Main Board.

This section details various regulatory requirements and procedures related to the public issue, including publication requirements under the Companies Act, jurisdiction, and restrictions concerning securities offered outside India. It outlines the necessary documentation and adherence to various SEBI circulars governing the issuance process, including the phased implementation of the UPI payment mechanism. Furthermore, it specifies rules for the Book Building Process, including allocations for different investor categories like Individual Investors, Non-Institutional Investors, and Qualified Institutional Buyers (QIBs).

This section details various procedural aspects related to the subscription process for the issue, including the types of investors eligible to bid, the required application forms, and the handling of funds. It outlines different color-coding for bid forms based on the investor category, specifies the roles of Designated Intermediaries, and describes the process for capturing and uploading bid details into the electronic bidding system. Furthermore, it covers rules regarding the bid period, the handling of multiple bids, and the procedures for blocking and unblocking funds in the ASBA accounts.

This section details various restrictions and requirements concerning who is permitted to subscribe to the equity shares in the issue, including different categories of investors. It outlines specific documentation that must be provided by various investor types, such as certified copies of registrations for certain entities like Mutual Funds, Limited Liability Partnerships, Banking Companies, and Insurance Companies. Furthermore, it specifies investment limits for different investor types, such as NRIs, FPIs, and various insurance entities, based on regulations from FEMA, SEBI, and RBI.

The section details various rules and procedures related to bidding in an issue, including specific requirements for bids from provident and pension funds, rules for participation by Anchor Investors, and procedures for handling applications through the ASBA process. It outlines conditions for bid aggregation, allocation discretion, and the handling of bid withdrawals. Furthermore, it specifies requirements for documentation when bids are made by certain entities and the process for confirming and allotting equity shares.

This section outlines various instructions and technical rejections related to the bidding process for the issue. It details requirements for bid submission, including ensuring correct details like PAN, DP ID, and Client ID, and mandates on how bids should be made. The text also specifies rules regarding bid amounts, bid lots, and the submission of various documents. Furthermore, it discusses the basis for allotment, including how demand from different investor categories (Individual, Non-Institutional, and QIB) is grouped and how allotment is determined based on the subscription level.

This section details various procedures and considerations related to the allotment of equity shares, particularly concerning Qualified Institutional Buyers (QIBs), Mutual Funds, and Anchor Investors. It outlines methods for determining the basis of allotment in cases of oversubscription, including the use of proportionate basis and draw of lots. Furthermore, it specifies conditions for allocating shares to Anchor Investors, including limits on the percentage allocated and minimum/maximum numbers of investors based on the investment amount. The text also covers various procedural aspects such as the timing for issuing allotment advice, the process for handling bid submissions, and undertakings by the company regarding the timely completion of listing formalities and refund procedures.

This section details various procedural and regulatory requirements related to the issuance of equity shares, including rules on the utilization of funds and adherence to SEBI Listing Regulations. It outlines agreements with Depositories for dematerialized shares and specifies the framework for the initial public issue, which is governed by SEBI (ICDR) Regulations. The text also covers the allocation process, including provisions for Market Maker reservations, various investor categories, and rules concerning bid submission and payment methods.

This section details various regulations concerning foreign investment in Indian securities, primarily governed by the Industrial Policy, 1991, and FEMA. It outlines specific restrictions on foreign investment, including limits on certain sectors and rules regarding participation by non-residents. The text discusses the role of different government departments and the consolidation of FDI policies issued by the DPIIT. Furthermore, it specifies conditions under which the transfer of shares between residents and non-residents is permitted. Finally, it mentions requirements for prior government approval for certain investments and the applicability of US securities laws regarding the offering of equity shares.

The company has five directors on its Board, including one Chairman and Managing Director. The Board composition includes one Whole Time Director, one Non-Executive Women Director, and two Non-Executive Independent Directors. Key personnel details include the appointment dates, qualifications, and experience of the directors. The document details the remuneration structure for the Chairman and Managing Director and the Whole Time Director, outlining limits based on the company's profitability.

The company has policies in place regarding corporate social responsibility, material litigation, fair disclosure of unpublished price sensitive information, related party transactions, and the determination of a material subsidiary. The Board structure includes five directors, with one serving as Chairman and Managing Director. The Board has four committees constituted under the Companies Act, including the Audit Committee, Stakeholders’ Relationship Committee, Nomination and Remuneration Committee, and the Corporate Social Responsibility Committee. Specific details regarding the composition and powers of these committees are outlined.

The management section details various policies and committee structures, including those for diversity, remuneration, and compliance with insider trading regulations. It outlines the composition of the Nomination and Remuneration Committee and the Corporate Social Responsibility Committee, which was constituted for the upcoming financial year. The section also lists the Key Managerial Personnel and Senior Management personnel, including the Chairman & Managing Director, Whole Time Director, and various functional heads, along with their qualifications and responsibilities. Furthermore, it covers aspects related to relationships between directors and management, shareholding, service contracts, and compensation arrangements.

The company's promoters include Rajnish Chopra, Anjali Chopra, and Abhishek Chopra, who collectively hold 91,99,305 equity shares, representing 66.53% of the pre-issue paid-up equity share capital. Rajnish Chopra is the Chairman and Managing Director, with 27 years of experience in Fire Safety, EPC, and Civil Constructions. Anjali Chopra is a Non-Executive Director, and Abhishek Chopra is a Whole-Time Director with experience in EPC business, procurement, and green energy. The promoters are interested in the company to the extent of promoting it and through their shareholdings. The company confirms that there have been no material regulatory or disciplinary actions against the promoters in the past year, nor have there been defaults in payments to debenture/bond/fixed deposit holders.

This section outlines the criteria for defining Group Companies, which includes companies with which related party transactions occurred or companies deemed material by the Board of Directors. It further states that no equity shares of the group entities are currently listed on any stock exchange and they have not made any public or rights issue in the preceding three years. The text also details the company's dividend policy, stating that dividends are subject to the recommendation of the Board and approval by shareholders, and that no dividends have been paid in the last three years.

This section outlines various provisions regarding the Articles of Association of the company, covering aspects such as capital structure, share issuance, and transfer restrictions. It details the power to increase or reduce capital, the issuance of different classes of shares, and provisions related to preference shares. Furthermore, it specifies conditions for the redemption of preference shares and the handling of various accounts, including the securities premium account. The articles also cover restrictions on the allotment of shares to the public and the power of the Board and General Meeting to offer shares or options to employees.

This section details various provisions concerning the handling of securities, particularly in the context of depository holdings, and the rights and obligations of members. It outlines procedures for dematerialization of securities, the rights of depositories, and the process for beneficial ownership recognition. Furthermore, it covers rules regarding the issuance and renewal of share certificates, the treatment of joint ownership, and the company's ability to enforce liens on shares, including procedures for forfeiture upon non-payment.

This section details various provisions related to the forfeiture of shares, including the process for issuing notices, the consequences of non-payment, and the rights of the member following such forfeiture. It outlines the process for notifying members about forfeiture and the subsequent treatment of the forfeited shares, including their disposition. Furthermore, it covers the rights of the affected member to claim outstanding amounts and the Board's power to annul the forfeiture. The text also addresses the transfer and transmission of shares, including restrictions on transferring shares to minors or insolvent persons, and procedures for registering such transfers.

This section details various provisions concerning the conduct of General Meetings, including requirements for notice, quorum definitions, and the manner in which resolutions are passed. It outlines rules for convening meetings by the Board or by requisition, specifies the required notice periods, and defines the composition of the quorum based on the number of members present. Furthermore, the text covers rules regarding the business transacted, the handling of special business, and procedures for resolving votes, including the use of shows of hands versus polls.

This section details various provisions concerning shareholder voting rights, the composition and appointment/removal of the Board of Directors, and restrictions on share transfer and director conduct. It outlines rules for appointing proxies to vote, the validity of votes given by proxy, and the power of the Chairman to judge the validity of votes. Furthermore, it specifies the composition limits for the Board, provisions related to directors appointed by trust deeds or finance corporations, and rules regarding the appointment and removal of directors, including provisions for special directors and alternate directors.

This section details various provisions concerning the conduct and composition of the Board of Directors, including procedures for representations, restrictions on interested directors, and rules for the rotation and appointment of directors. It outlines rules for handling vacancies, the rights of directors retiring by rotation, and the quorum requirements for Board meetings. Furthermore, it specifies powers related to the appointment of various directors, the delegation of powers to committees, and the validity of resolutions passed by circulation.

The Articles of Association detail various powers vested in the Board of Directors, including general management powers, certain restrictions on the Board's ability to dispose of undertakings or borrow money, and specific powers to make calls on shareholders. The Articles also grant the Board the power to delegate certain powers to committees or officers, with stipulations regarding the scope of delegated authority. Furthermore, the Articles outline powers related to property acquisition, insurance, and the handling of various financial transactions and liabilities. The provisions also cover the appointment and removal of various personnel, as well as the maintenance of minutes and records of meetings.

This section details various provisions concerning the declaration and payment of dividends, the treatment of capital paid-up in advance, and the handling of company profits and reserves. It outlines rules for declaring dividends, the Board's discretion in setting dividends, and how dividends are apportioned based on amounts paid. Furthermore, it covers provisions related to the deduction of debts from dividends, the rights of members regarding payments while indebted to the company, and procedures for handling unpaid or unclaimed dividends.

The provided section details various provisions related to the conduct and liability of company officers, including stipulations regarding the secrecy of company affairs and restrictions on members visiting company premises without permission. It also covers general powers granted to the company under the Articles of Association and outlines requirements for certain contracts and documents to be inspected. Furthermore, the text lists numerous material contracts and documents that are relevant to the issuance process, including resolutions and various expert reports.

The provided text consists entirely of declarations signed by various directors and officers of the company, affirming compliance with relevant provisions of the Companies Act, 2013, and guidelines issued by the Government of India or the Securities and Exchange Board of India Act, 1992. These declarations serve as certifications that the statements made in the Draft Red Herring Prospectus are true and correct.