Msafe Equipments IPO
Msafe Equipments IPO
Overview
Msafe Equipments IPO is a book build issue of ₹66.42 crores. The issue is a combination of fresh issue of 0.44 crore shares aggregating to ₹54.12 crores and offer for sale of 0.10 crore shares aggregating to ₹12.30 crores. Msafe Equipments IPO opens for subscription on Jan 28, 2026 and closes on Jan 30, 2026. The allotment for the Msafe Equipments IPO is expected to be finalized on Feb 2, 2026. Msafe Equipments IPO will list on BSE SME with a tentative listing date fixed as Feb 4, 2026. Msafe Equipments IPO price band is set at ₹116 to ₹123 per share. The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹2,46,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹3,69,000. Seren Capital Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue.
Total Shares
54,00,000
Issue Size
₹66 Cr
Price Band
₹116 – ₹123
Lot Size
1000 shares
Min. Investment
₹2,46,000
Max. Investment
₹2,46,000
Open Date
28 Jan, 2026
Close Date
30 Jan, 2026
Allotment
02 Feb, 2026
Listing
04 Feb, 2026
Max. Investment
₹2,46,000
Announced
28 Jan, 2026
Opening Date
28 Jan, 2026
Closing Date
30 Jan, 2026
Basis of Allotment
02 Feb, 2026
Initiation of Refunds
03 Feb, 2026
Credit of Shares
03 Feb, 2026
Listing Date
04 Feb, 2026
Live GMP
Est. Listing: ₹146
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About Msafe Equipments IPO
Incorporated in 2019, Msafe Equipments Limited is engaged in the manufacturing, sales, and rental of access and height-safety equipment used for safe working at heights.
Its product portfolio includes aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders, and fibre reinforced plastic (FRP) ladders, catering to operational and safety needs across construction, maintenance, installation, repair, and infrastructure development activities.
The Company operates three
Msafe Equipments IPO Share Price
Issue Breakdown
Shareholding
Dilution: 27.5% increase in shares
Msafe Equipments IPO Financial Health
Msafe Equipments Ltd.'s revenue increased by 48% and profit after tax (PAT) rose by 99% between the financial year ending with March 31, 2025 and March 31, 2024.
Msafe Equipments IPO Lot Size
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2000 | ₹2,46,000 |
| Individual investors (Retail) (Max) | 2 | 2000 | ₹2,46,000 |
| S-HNI (Min) | 3 | 3000 | ₹3,69,000 |
| S-HNI (Max) | 8 | 8000 | ₹9,84,000 |
| B-HNI (Min) | 9 | 9000 | ₹11,07,000 |
(All values in CR)
Msafe Equipments IPO Valuations
| Metric | Value |
|---|---|
| ROE | 67.97 |
| ROCE | 34.56 |
| RoNW | 50.73 |
| PAT Margin | 18.24 |
| EBITDA Margin | 36.55 |
| Price to Book Value | 7.67 |
(All values in CR)
Msafe Equipments IPO Strength & Risk
Strengths of Msafe Equipments IPO
• Operates in access and height-safety equipment segment with growing relevance across industries
• Product range includes scaffoldings, ladders and safety solutions catering to multiple use cases
• Reported improvement in revenue and profitability in recent financials
• Healthy margins indicate better operational efficiency
• Presence across multiple regions supports wider customer reach
• SME listing provides access to capital for business expansion
Risks of Msafe Equipments IPO
• SME IPOs generally face lower liquidity and higher price volatility
• Business dependent on construction and infrastructure sector demand
• Raw material price fluctuations may impact costs and margins
• Operates in a competitive industrial equipment market
• Execution risk related to expansion and utilisation of IPO proceeds
Msafe Equipments IPO Subscriptions Status
Msafe Equipments IPO subscribed 4.34 times. The public issue subscribed 5.43 times in the individual investors category, 0.80 times in QIB (Ex Anchor), and 6.48 times in the NII category by January 29, 2026 11:04:59 AM (Day 2).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 15,25,000 | 15,25,000 | 18.76 |
| Market Maker | 1.00 | 2,98,000 | 2,98,000 | 3.67 |
| QIB (Ex Anchor) | 0.80 | 10,17,000 | 8,14,000 | 10.01 |
| NII | 6.48 | 7,74,000 | 50,16,000 | 61.7 |
| bNII (> ₹10L) | 6.82 | 5,16,000 | 35,18,000 | 43.27 |
| sNII (< ₹10L) | 5.81 | 2,58,000 | 14,98,000 | 18.43 |
| Individual Investors | 5.43 | 17,86,000 | 96,90,000 | 119.19 |
| Total | 4.34 | 35,77,000 | 1,55,20,000 | 190.9 |
Msafe Equipments IPO GMP
Msafe Equipments SME IPO last GMP is ₹23, last updated Jan 29th 2026 10:33 AM. With the price band of 123.00, Msafe Equipments SME IPO's estimated listing price is ₹146 (cap price + today's GMP).The expected percentage gain/loss per share is 18.70%. >> Msafe Equipments SME IPO Retail Subject to Sauda: ₹17500 The lowest GMP is ₹7.00, while the highest GMP is ₹23.00.
Last updated 29 Jan, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 29 Jan, 2026 | 123 | ₹23 | 17500 | ₹146 (18.70%) | 23000 | 29 Jan, 2026 |
| 28 Jan, 2026 | 123 | ₹23▲ | 17500 | ₹146 (18.70%) | 23000 | 28 Jan, 2026 |
| 27 Jan, 2026 | 123 | ₹20▲ | 15200 | ₹143 (16.26%) | 20000 | 27 Jan, 2026 |
| 26 Jan, 2026 | 123 | ₹11 | 8400 | ₹134 (8.94%) | 11000 | 26 Jan, 2026 |
| 25 Jan, 2026 | 123 | ₹11 | 8400 | ₹134 (8.94%) | 11000 | 25 Jan, 2026 |
| 24 Jan, 2026 | 123 | ₹11 | 8400 | ₹134 (8.94%) | 11000 | 24 Jan, 2026 |
| 23 Jan, 2026 | 123 | ₹11▲ | 8400 | ₹134 (8.94%) | 11000 | 23 Jan, 2026 |
| 22 Jan, 2026 | 123 | ₹7 | 5300 | ₹130 (5.69%) | 7000 | 22 Jan, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Msafe Equipments IPO
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Go to IPO Section
Find Msafe Equipments IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
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Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.