Msafe Equipments IPO
Open SmeCurrent GMP
₹21 (+17.07%)
Price Band
₹ 116 – 123
Lot Size
1000
Issue Size
₹66 Cr
Minimum Investment
₹246000 (2000 Shares)
Listing Date
04 February 2026
Subscription
166.81x
About the Company
Msafe Equipments Limited, incorporated in 2019, is engaged in the manufacturing, sale, and rental of access and height-safety equipment designed to ensure safe working at elevated heights.
The Company’s product portfolio comprises aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders, and fibre-reinforced plastic (FRP) ladders. These products address the operational and safety requirements of customers involved in construction, maintenance, installation, repair, and infrastructure development activities.
Msafe operates three manufacturing facilities located in Greater Noida, Uttar Pradesh. These facilities are supported by a robust logistics infrastructure, including 17 warehouses strategically located across key states such as Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal. This widespread network enables efficient storage, dispatch, and retrieval of products for both sales and rental operations.
During Fiscal 2025, the Company supplied its products across 22 States and 3 Union Territories, catering to a diverse clientele operating in sectors including construction, HVAC, mechanical, electrical and plumbing (MEP), electrical works, fire safety, interior fit-outs, and warehousing.
As of June 30, 2025, Msafe Equipments Limited employed 299 permanent employees and 28 contractual staff, supporting its manufacturing operations, service capabilities, and nationwide presence.
Promoters
- Pradeep Aggarwal
- Ajay Kumar Kanoi
- Vansh Aggarwal
- Rushil Agarwal
- Gaurav Ajay Kumar Kanoi
- Rajani Ajay Kanoi
- Monika Aggarwal
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
73.53%
Objects of the Issue
The Company Msafe Equipments IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding of Capital expenditure towards setup of a new Manufacturing Facility
- Funding of Capital expenditure for manufacturing of equipments for rental purpose
- Utilization towards working capital requirements
- General corporate purposes
Address / Contact Info
Msafe Equipments Ltd.
F-311, 3rd Floor
Aditya Arcade Plot No. 30
Community Center, Preet Vihar, East Delh
New Delhi, New Delhi, 110092
Phone: +91-88822 07104
Email: info@msafegroup.com
Website: http://www.msafegroup.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 28 January 2026
IPO Close Date
Friday, 30 January 2026
Basis of Allotment
Monday, 02 February 2026
Initiation of Refunds
Tuesday, 03 February 2026
Credit of Shares to Demat
Tuesday, 03 February 2026
Listing Date
Wednesday, 04 February 2026 — NSE & BSE
Important Dates
Open Date
28 January 2026
Close Date
30 January 2026
Basis Of Allotment
02 February 2026
Listing Date
04 February 2026
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 87.67 | 73.59 | 48.19 | 33.54 |
| Revenue | 49.07 | 71.62 | 48.34 | 29.71 |
| Profit After Tax | 10.5 | 13.01 | 6.55 | 3.65 |
| Net Worth | 36.15 | 25.65 | 12.64 | 6.09 |
| Reserve & Surplus | 20.15 | 24.65 | 11.64 | 5.09 |
| Total Borrowings | 37.67 | 32.56 | 25.87 | 20.37 |
EPS Pre
8.13%
EPS Post
10.29%
P/E Pre
15.12
P/E (Post Issue)
11.95x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 33.98 | 67.97 | 69.99 | 85.68 |
| ROCE % | 21.21 | 34.56 | 28.04 | 23.28 |
| Debt / Equity | 0 | 0 | 0 | 0 |
| RoNW % | 29.05 | 50.73 | 51.85 | 59.94 |
| PbW | 0 | 0 | 0 | 0 |
| Pat Margin % | 21.42 | 18.24 | 13.61 | 12.28 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 1017000 | 28.43 | 0 |
| Non-Institutional | 774000 | 21.64 | 0 |
| BNII | 516000 | 14.43 | 0 |
| SNII | 258000 | 7.21 | 0 |
| Retail Investors | 1786000 | 49.93 | 0 |
| Total | 3577000 | 100 | 0 |
Subscription Status ( Fri, 30 Jan 26 01:59 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 1017000 | 119979000 | 117.97x |
| Non-Institutional | 774000 | 238868000 | 308.61x |
| Retail Investors | 1786000 | 237820000 | 133.16x |
| Total | 3577000 | 596667000 | 166.81x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Msafe Equipments Ltd | 10 | 0.00 | 8.13 | 8.13 | 50.73 | 16.03 |
| Techno Craft India Industries Ltd | 10 | 19.90 | 112.32 | 112.32 | 14.84 | 777.00 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | 246,000.00 |
| Retail (Max) | 2 | 2,000 | 246,000.00 |
| S-HNI (Min) | 3 | 3,000 | 369,000.00 |
| S-HNI (Max) | 8 | 8,000 | 984,000.00 |
| B-HNI (Min) | 9 | 9,000 | 1,107,000.00 |
Registrar
Maashitla Securities Pvt. Limited
011-45121795-96
investor.ipo@maashitla.com
https://www.maashitla.com
Book Running Lead Managers
- Seren Capital Private Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Msafe Equipments IPO is a Book-building IPO worth ₹66 crores. The price band is ₹116 to 123 per share. The IPO opens on Wed, Jan 28, 2026 and closes on Fri, Jan 30, 2026. It will be listed on BSE and NSE. Maashitla Securities Pvt. Limited is the registrar.
The Msafe Equipments IPO opens on Wed, Jan 28, 2026 and closes on Fri, Jan 30, 2026
Msafe Equipments IPO Price Band is ₹116 to 123.
Msafe Equipments IPO lot size is 1000, and the minimum amount required for application is ₹246000.
The minimum investment for Msafe Equipments IPO is approximately ₹246000 based on the upper price band.
To apply for the Msafe Equipments IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Jan 30, 2026. After submission, funds are blocked until the basis of allotment of Msafe Equipments IPO is finalised.
Msafe Equipments IPO issue size is ₹66 crores.
Msafe Equipments IPO allotment date is Sat, Jun 27, 2026.
The registrar for Msafe Equipments IPO is Maashitla Securities Pvt. Limited. Investors can go to Maashitla Securities Pvt. Limited website for IPO allotment status, refund processing, and other queries related to Msafe Equipments IPO through their official website or helpline.
The Msafe Equipments IPO GMP (Grey Market Premium) is ₹21 as of Wed, Feb 4, 2026. Based on the upper price band of ₹123 per share, the estimated Msafe Equipments IPO listing price is ₹144, indicating a potential listing gain of approximately 31% over the issue price.