IPO

Msafe Equipments Limited IPO

BSE SME

Listed On: Feb 4, 2026 at ₹ 144.0

₹ 246000 /2000 Shares
*Min Investment

Check Allotment

28 Jan, 2026

Open Date

30 Jan, 2026

Close Date

02 Feb, 2026

Allotment Date

04 Feb, 2026

Listing Date
Expected Premium
₹ 21-22 (17%)

*Expected Premium provided in this app is derived from market rumors. It is not a guaranteed indicator of the actual listing price and should be interpreted with caution.

Msafe Equipments IPO Live Subscription Details
View Subscription Details
QIB 117.97x
Individual 133.16x
NIIs 308.61x
BHNI 381.43x
SHNI 162.98x
Individual 133.16x
Total 166.81x
Last updated: 30 Jan 2026, 05:57 PM
Msafe Equipments IPO Issue Details
  • Issue Price ₹116-123 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 54,00,000 shares(aggregating up to ₹66.42 crore)
  • Fresh Share 44,00,000 shares(aggregating up to ₹54.12 crore)
  • Offer For Sale 10,00,000 shares(aggregating up to ₹12.3 crore)
  • Listing at BSE SME
  • List Price 144.0
  • Listing Date 2026-02-04
  • Lead Manager Seren Capital Pvt.Ltd.
  • Registrar Maashitla Securities Pvt.Ltd.
Market Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Individual (min) 2 2000 ₹2,46,000
Individual(max) 2 2000 ₹2,46,000
SHNI(min) 3 3000 ₹3,69,000
SHNI(max) 8 8000 ₹9,84,000
BHNI(min) 9 9000 ₹11,07,000
Msafe Equipments IPO Reservation

Msafe Equipments IPO offers total 5400000 shares. Out of which 1017000 (18.83%) allocated to QIB, 774000 (14.33%) allocated to NII,1786000 (33.07%) allocated to RII, NA (NA%) allocated to employees and 1525000 (28.24%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 1525000 (28.24%)
Market Maker Shares Offered 298000 (5.52%)
QIB Shares Offered 1017000 (18.83%)
NII (HNI) Shares Offered 774000 (14.33%)
bNII > ₹10L 516000 (9.39%)
sNII < ₹10L 258000 (4.85%)
Individual Shares Offered 1786000 (33.07%)
Total Shares Offered 5400000 (100%)
Msafe Equipments IPO Documents
DRHP
ANCHOR
Msafe Equipments IPO Details


Msafe Equipments Limited IPO is an SME IPO, priced at ₹116-123 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the BSE SME platform. The IPO comprises a total issue of 54,00,000 equity shares, aggregating up to ₹66.42 crores..

The IPO bidding window is open from Jan 28, 2026 to Jan 30, 2026. The allotment is expected to be finalized on Feb 2, 2026, and the tentative listing date is Feb 4, 2026.

The minimum lot size for Individual investors is 2000 shares, with a minimum investment of ₹2,46,000.

Seren Capital Pvt.Ltd. is acting as the lead manager to the issue. The registrar of the IPO is Maashitla Securities Pvt.Ltd., and

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Msafe Equipments IPO Subscription Analysis And Details
Retail
133.16x
QIB
117.97x
NII
308.61x
bNII
381.43x
sNII
162.98x
Total
166.81x
As on QIB NII
bNII   sNII 		Individual Total
Shares Offered / Reserved 10,17,000 7,74,000
5,16,000    2,58,000 		17,86,000 35,77,000
Day 1 28-01-26 05:00 PM
0.80 x 3.46 x
3.72 x   2.95 x 		2.78 x 2.37 x
Day 2 29-01-26 05:00 PM
0.81 x 27.04 x
31.86 x   17.39 x 		15.15 x 13.65 x
Day 3 30-01-26 05:00 PM
117.97 x 308.61 x
381.43 x   162.98 x 		133.16 x 166.81 x
Day 4 02-02-26 05:00 PM
117.97 x 308.61 x
381.43 x   162.98 x 		133.16 x 166.81 x
Total No of Applications
1,52,725
Subscription on the basis of Applications
Retail:133.16x BHNI:122.65x SHNI:146.71x
Msafe Equipments Valuations
EPS Pre IPO ₹8.13/-
EPS Post IPO ₹10.29/-
P/E Pre IPO 15.12
P/E Post IPO 11.95
ROE 67.97%
ROCE 34.56%
RoNW 50.73%
PAT Margin 18.24%
Price to Book Value 7.67
Market Cap. 250.92 Cr.
Msafe Equipments Company Financials
In Crs.
In Cr.
31-Mar-25 31-Mar-24 31-Mar-23
Assets 73.59 48.19 33.54
Revenue 71.62 48.34 29.71
Profit After Tax 13.01 6.55 3.65
Net Worth 25.65 12.64 6.09
Reserves & Surplus 24.65 11.64 5.09
Total Borrowing 32.56 25.87 20.37
About Msafe Equipments Company

Incorporated in the year 2019, the company, Msafe Equipments Limited, is into the manufacturing, selling, and hiring of access, as well as height safety equipment for safe working at heights.
Its product offering includes aluminum scaffoldings, mild steel (MS) scaffoldings, aluminum ladders, and fiber-reinforced plastic (FRP) ladders. Such products meet operational and qualitative demands in the context of construction, maintenance, installation, repair, and development.
It has three manufacturing units at Greater Noida, Uttar Pradesh, in addition to a storage network of 17 warehouses covering various states such as Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal. These units work efficiently for storing, dispatching, or collecting the product for any sales or rental transactions.
During Fiscal 2025, their products were marketed in 22 States and 3 Union Territories to meet a multitude of client requirements in areas ranging from construction to interior and storage sectors.
As on June 30, 2025, the Company had 299 permanent employees and 28 contractual employees, which ensured operational efficiency and geographical reach.

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Msafe Equipments - Promoter(s)

Pradeep Aggarwal, Ajay Kumar Kanoi, Vansh Aggarwal, Rushil Agarwal, Gaurav Ajay Kumar Kanoi, Rajani Ajay Kanoi and Monika Aggarwal

Pre Issue Share Holding : 100%

Post Issue Share Holding : 73.53%

Msafe Equipments IPO - Issue Objectives
1

Contact Details

Msafe Equipments

F-311, 3rd Floor, Aditya Arcade, Plot No. 30, Community Center, Preet Vihar, East Delhi, New Delhi, New Delhi, 110092

+91 88822 07104

info@msafegroup.com

http://www.msafegroup.com/

Registrar Contact Details

Maashitla Securities Private Limited

+91-11-45121795-96

Investor.ipo@maashitla.com

https://maashitla.com/allotment-status/public-issues