Msafe Equipments IPO
GMP, Subscription, Price, Dates & Financial Details
Aluminium Products
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…
Open Date
Wed, 28 Jan 2026
Close Date
Fri, 30 Jan 2026
Price Band
₹ 116 – 123
Lot Size
1000
Issue Size
₹ 66.00 Cr
Minimum Investment
₹ 246,000 (2000 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Msafe Equipments IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹66.00 Crore, comprising a fresh issue of 41.02 Lakh equity shares aggregating to ₹50.00 Crore and an offer for sale (OFS) of 10.00 Lakh equity shares aggregating to ₹12.00 Crore by the existing shareholders.
The Msafe Equipments IPO remained open for subscription from January 28, 2026, to January 30, 2026. The basis of allotment was finalized on February 02, 2026, and the company's shares were listed on BSE SME Platform on February 04, 2026.
The company had fixed the price band at ₹116 to ₹123 per share, with a lot size of 1000 shares. Retail investors were required to make a minimum investment of ₹246,000 (based on the upper price band) to apply for one lot.
Maashitla Securities Pvt. Limited served as the registrar to the issue. Seren Capital Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Msafe Equipments Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Msafe Equipments IPO Timeline (Tentative)
- IPO Open Date
- Wed, 28 Jan 26
- IPO Close Date
- Fri, 30 Jan 26
- Basis of Allotment
- Mon, 02 Feb 26
- Initiation of Refunds
- Tue, 03 Feb 26
- Credit of Shares to Demat
- Tue, 03 Feb 26
- Listing Date
- Wed, 04 Feb 26 — NSE & BSE
Open Date
28 January 2026
Close Date
30 January 2026
Basis Of Allotment
02 February 2026
Listing Date
04 February 2026
IPO Subscription
Check Live Subscription →The Msafe Equipments IPO has received bids for 59,66,67,000 shares against 35,77,000 shares offered, resulting in an overall subscription of 166.81x. the NII category is subscribed 308.61x, Retail Investors 133.16x, and QIBs 117.97x.
QIB
117.97x
NII
308.61x
RII
133.16x
Total
166.81x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 17,86,000 shares, representing 49.93% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 10,17,000 shares (28.43%), while Non-Institutional Investors (NIIs) receive 7,74,000 shares (21.64%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 1,017,000 | 28.43% |
| Non-Institutional | 774,000 | 21.64% |
| BNII | 516,000 | 14.43% |
| SNII | 258,000 | 7.21% |
| Retail Investors | 1,786,000 | 49.93% |
| Total | 3,577,000 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Msafe Equipments Limited KPI Information
| 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 |
| RoNW % | 29.05 | 50.73 | 51.85 | 59.94 |
| Pat Margin % | 21.42 | 18.24 | 13.61 | 12.28 |
Peers Comparison
| 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 |
About Msafe Equipments Limited
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.
Msafe Equipments IPO 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%
Msafe Equipments IPO Objective
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
Msafe Equipments Limited Address / Contact Details
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
Msafe Equipments IPO Lot Size
The Msafe Equipments IPO has a lot size of 1,000 shares. Retail investors require a minimum investment of ₹2,46,000 by applying for 2 lot (2,000 shares). The maximum application allowed for the retail category is 2 lots (2,000 shares), requiring an investment of ₹2,46,000.
| 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 |
Issue Reservation
- QIB — 28.43%
- NII — 21.64%
- RII — 49.93%
Book Running Lead Managers
- Seren Capital Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Msafe Equipments IPO?
Msafe Equipments IPO is a Book-building IPO with a total issue size of ₹66 crore. The Msafe Equipments IPO price band is ₹116 to 123 per share. The Msafe Equipments IPO subscription opens on Wed, Jan 28, 2026, and closes on Fri, Jan 30, 2026. The Msafe Equipments IPO will be listed on the BSE. Maashitla Securities Pvt. Limited is the registrar for the Msafe Equipments IPO.
When will the Msafe Equipments IPO open for subscription?
The Msafe Equipments IPO opens on Wed, Jan 28, 2026 and closes on Fri, Jan 30, 2026
What is Msafe Equipments IPO Price Band?
Msafe Equipments IPO Price Band is ₹116 to 123 per share.
What is Msafe Equipments IPO Lot Size?
Msafe Equipments IPO lot size is 1000 shares, Retail investors need a minimum investment of ₹246000 based on the upper price band
What is the minimum investment for Msafe Equipments IPO?
The minimum investment for Msafe Equipments IPO is ₹246000, based on one lot of 1000 shares at the upper price band of ₹123 per share.
How to apply for Msafe Equipments IPO?
Investors can apply for the Msafe Equipments IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Jan 30, 2026. The application amount remains blocked until the Msafe Equipments IPO allotment is finalized.
What is Msafe Equipments IPO Issue Size?
Msafe Equipments IPO issue size is ₹66 crores.
What is the Msafe Equipments IPO Allotment Date?
Msafe Equipments IPO allotment date is Mon, Feb 2, 2026.
Who is the Msafe Equipments IPO Registrar?
The registrar for Msafe Equipments IPO is Maashitla Securities Pvt. Limited. Investors can go to Maashitla Securities Pvt. Limited website to check Msafe Equipments IPO allotment status, refund processing, and other IPO-related information.
What is the Msafe Equipments IPO GMP?
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 17.07% over the issue price.
Who is the Msafe Equipments IPO Lead Manager?
The book-running lead managers (BRLMs) for the Msafe Equipments IPO are Seren Capital Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Msafe Equipments IPO Red Herring Prospectus (RHP).