Msafe Equipments Limited IPO
Msafe Equipments Limited IPO
Price Band
₹116 - ₹123
Total Issue
₹66.42 Cr
Bid Dates
28 Jan - 30 Jan
Subscription
153.98x
Est. GMP
₹22 (17.89%)
Tentative Timetable
Business Overview
Msafe Equipment is engaged in the manufacturing, sale and rental of access and height-safety equipment used to facilitate safe working at elevated heights. The company offers a diversified product portfolio comprising aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders and fibre reinforced plastic (FRP) ladders, designed to meet varied operational, load-bearing and safety requirements. These products are widely used across construction, maintenance, installation, repair and infrastructure development activities. Incorporated in 2019, Msafe Equipment has focused on delivering reliable, durable and safety-compliant solutions that support efficient operations while minimizing workplace risks. The company caters to a broad customer base by addressing both short-term rental needs and long-term ownership requirements, positioning itself as a comprehensive provider of access and height-safety solutions across industries.
Lot Info
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Individual (Min) | 2 | 2,000 | ₹2,46,000 |
| Individual (Max) | 2 | 2,000 | ₹2,46,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,69,000 |
| S-HNI (Max) | 8 | 8,000 | ₹9,84,000 |
| B-HNI (Min) | 9 | 9,000 | ₹11,07,000 |
Issue Size
Objects of the Issue
A1
A2
A3
Grey Market Premium
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 03 Feb | ₹22 (17.9%) | ₹145 |
| 02 Feb | ₹23 (18.7%) | ₹146 |
| 01 Feb | ₹26 (21.1%) | ₹149 |
| 31 Jan | ₹26 (21.1%) | ₹149 |
| 30 Jan | ₹26 (21.1%) | ₹149 |
| 29 Jan | ₹23 (18.7%) | ₹146 |
| 28 Jan | ₹23 (18.7%) | ₹146 |
| 27 Jan | ₹14 (11.4%) | ₹137 |
| 26 Jan | ₹11 (8.9%) | ₹134 |
| 25 Jan | ₹11 (8.9%) | ₹134 |
| 24 Jan | ₹11 (8.9%) | ₹134 |
| 23 Jan | ₹11 (8.9%) | ₹134 |
| 22 Jan | ₹7 (5.7%) | ₹130 |
Msafe Equipments IPO Peer Comparison
(Rs. in crores)
| Particulars | Msafe Equipments | Techno Craft |
|---|---|---|
| Revenue | 71.34 | 2,595.58 |
| PAT | 13.01 | 262.96 |
| EPS (₹) | 8.13 | 112.32 |
| RONW | 50.73% | 14.84% |
| EBITDA | 36.55% | 16% |
| PAT Mrgn | 18.24% | 10.13% |
| PE Ratio | 15.13 | 19.90 |
All information pertains to FY 2024-25. PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of December 30th, 2025 for Peers
Financial Performance
(Rs. in crores)
| Particulars | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Revenue | 49.01 | 71.34 | 48.13 | 29.70 |
| PAT | 10.50 | 13.01 | 6.55 | 3.65 |
| Net Worth | 36.15 | 25.65 | 12.64 | 6.09 |
| Borrowings | 37.67 | 32.56 | 25.87 | 20.37 |
| Assets | 87.67 | 73.59 | 48.19 | 33.54 |
| NAV (₹) | 22.59 | 16.03 | 7.90 | 3.80 |
| EPS (₹) | 6.56 | 8.13 | 4.09 | 2.28 |
KPIs
EBITDA
36.55%
PAT
18.24%
ROE
67.97%
ROCE
34.56%
PE Ratio
15.13
PB Ratio
7.67
Mkt Cap (in Crs.)
250.92
- All the data pertains to FY 2024-25.
- PE, PB, and market capitalization are calculated based on the Upper Price Band.
Shareholding
Promoter
99.13%
Public
0.87%
Management
Subscription Status
Updated as on 30 Jan 2026 | 05:00:00 PM
| Category | Sub (x) | Offered | Bids |
|---|---|---|---|
| QIB | 117.97x | 10,17,000 | 11,99,79,000 |
| NII | 308.23x | 7,74,000 | 23,85,70,000 |
| bHNI | 380.85x | 5,16,000 | 19,65,21,000 |
| sHNI | 162.98x | 2,58,000 | 4,20,49,000 |
| Individual Investor | 133.16x | 17,86,000 | 23,78,18,000 |
| Total | 166.72x | 35,77,000 | 59,63,67,000 |
Frequently Asked Questions
What is Msafe Equipments IPO?
When will Msafe Equipments IPO open?
What is the GMP of Msafe Equipments IPO?
What is the lot size of Msafe Equipments IPO?
When is the allotment of Msafe Equipments IPO?
What is the listing date of Msafe Equipments IPO?
What is the subscription of Msafe Equipments IPO?
What is the price band of Msafe Equipments IPO?
How to check allotment status of Msafe Equipments IPO?
How to apply Msafe Equipments IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Msafe Equipments IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Msafe Equipments IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Msafe Equipments IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date