Msafe Equipments Limited IPO
Msafe Equipments Limited IPO
SME BSE SME 100% Book Built Offer
Closed

Price Band

₹116 - ₹123

Total Issue

₹66 Cr

Bid Dates

28 Jan - 30 Jan

Subscription

166.72x

Listing Price

₹144 (17.07%)

Website RHP Check Allotment

Valuation

Market Cap

₹250.92 Cr

P/E Ratio

15.13x

P/B Ratio

7.67x

Msafe Equipments IPO Dates

Open
Close
Allotment
Refunds
Credit
Listing

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.

Msafe Equipments IPO Lot Size

Lot Information for Msafe Equipments IPO
Category Lots Shares Amount
Ind (Min) 2 2,000 ₹2,46,000
Ind (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
Allocate Funds
Market Maker
2,98,000 EQ. Shares
Employee
₹0.00
Shareholder
₹0.00

Msafe Equipments IPO Size

Total ₹66 Cr
Fresh Issue
₹54 Cr (0.44 Cr Shares)
Offer For Sale
₹12 Cr (0.10 Cr Shares)

Objects of Issue

  1. Funding of Capital expenditure towards setup of a new Manufacturing Facility
  2. Funding of Capital expenditure for manufacturing of equipments for rental purpose
  3. Utilization towards working capital requirements
  4. General corporate purposes

Msafe Equipments IPO Live Subscription

Updated as on 30 Jan 2026 | 05:00:00 PM

Msafe Equipments IPO Subscription Status (BSE SME)
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 133.16x 17,86,000 23,78,18,000
Total 166.72x 35,77,000 59,63,67,000

Msafe Equipments IPO Details Live GMP

GMP ₹22
Est. Price ₹145
Est. Gain 17.89%

Msafe Equipments IPO Peer Comparison

(Rs. in crores)

Msafe Equipments IPO Peer Comparison Table
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

Msafe Equipments IPO Financial Performance

(Rs. in crores)

Financial Performance Metrics for Msafe Equipments IPO
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

Key Performance Indicators (KPIs)

EBITDA

36.55%

PAT

18.24%

ROE

67.97%

ROCE

34.56%

  • All the data pertains to FY 2024-25.
  • PE, PB, and market capitalization are calculated based on the Upper Price Band.

Promoter Holding

Promoter

99.13%

Public

0.87%

Ajay Kanoi 34.58%
Vansh Aggarwal 24.00%
Pradeep Aggarwal 21.00%
Gaurav Kanoi 10.00%
Rajani Kanoi 5.00%
Others 4.55%

Management

Pradeep Aggarwal
Chairman & MD
Sombir
CFO

Registrar & Lead Managers

Registrar

Maashitla Securities

Lead Managers (1)

Seren Capital

Company Details

Name: Msafe Equipments Limited

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

Number: +91-88822 07104

Email: info@msafegroup.com

Website: https://www.msafegroup.com

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Frequently Asked Questions (FAQs)

What is Msafe Equipments IPO?
Msafe Equipments IPO is a SME IPO having an issue size of ₹66 Crs. Msafe Equipments IPO is priced at ₹116 - ₹123 per share. The issue opens on 28 Jan 26 and closes on 30 Jan 26.
When will Msafe Equipments IPO open?
Msafe Equipments IPO opens on 28 Jan 26 and closes on 30 Jan 26.
What is the GMP of Msafe Equipments IPO?
The estimated Grey Market Premium of Msafe Equipments IPO is ₹22 per share (17.89%).
What is the lot size of Msafe Equipments IPO?
The minimum lot size of Msafe Equipments IPO is 1000 shares & the minimum application amount is Rs. 123000.
When is the allotment of Msafe Equipments IPO?
The allotment date of Msafe Equipments IPO is 02 Feb 26.
What is the listing date of Msafe Equipments IPO?
The listing date of Msafe Equipments IPO is 04 Feb 26.
What is the subscription of Msafe Equipments IPO?
Msafe Equipments IPO is subscribed 153.98 times.
What is the price band of Msafe Equipments IPO?
Msafe Equipments IPO is priced at ₹116 - ₹123 per share.
How to check allotment status of Msafe Equipments IPO?
Click the allotment link on Msafe Equipments IPO page of IPO360.
How to apply Msafe Equipments IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply Msafe Equipments IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply Msafe Equipments IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Msafe Equipments IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date

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