Msafe Equipments Limited IPO
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.
Price Band₹116 - ₹123 |
Dates28 Jan - 30 Jan |
GMP₹22 (17.89%) |
Subscriptions153.98 times |
Issue Size₹66.42 Crs |
Msafe Equipments IPO Key Dates
Opening Date
28 Jan 26
Closing Date
30 Jan 26
Basis Of Allotment
02 Feb 26
Initiations Of Refund
03 Feb 26
Credit Of Shares
03 Feb 26
Listing Date
04 Feb 26
Msafe Equipments IPO 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 IPO Details
Price Band₹116 - ₹123 |
Listing AtBSE SME |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹54.12 Cr (0.44 Cr Shares) |
Offer For Sale₹12.30 Cr (0.10 Cr Shares) |
Total Issue₹66.42 Cr (0.54 Cr Shares) |
Face Value₹10 per equity share |
Msafe Equipments IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Individual Investor |
Minimum
2
2,000
2,46,000
Maximum
2
2,000
2,46,000
|
|||
| Small HNI |
Minimum
3
3,000
3,69,000
Maximum
8
8,000
9,84,000
|
|||
| Big HNI |
Minimum
9
9,000
11,07,000
|
|||
Msafe Equipments IPO Subscription
Updated as on 30 Jan 2026 | 05:00:00 PM
| Investor Category | Subscription (times) | Shares Offered | Shared Bid |
|---|---|---|---|
| QIB | 117.97 | 10,17,000 | 11,99,79,000 |
| NII | 222.82 | 7,74,000 | 23,88,68,000 |
| bNII (bids above ₹10L) | 381.43 | 5,16,000 | 19,68,19,000 |
| sNII (bids between ₹2L to ₹10L) | 162.98 | 2,58,000 | 4,20,49,000 |
| Retail | 133.16 | 17,86,000 | 23,78,18,000 |
| Total | 153.98 | 38,75,000 | 59,66,65,000 |
Msafe Equipments IPO GMP
The estimated Grey Market Premium of Msafe Equipments IPO is ₹22 per share (17.89%)
Category Allocation
| Particulars | Allocation |
|---|---|
| QIB | Not more than 49.82% of Net Offer |
| NII | Not less than 15.17% of Net Offer |
| Retail | Not less than 35.01% of Net Offer |
| Market Maker | 2,98,000 EQ. Shares |
Msafe Equipments IPO Financials
| 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 |
The financial information presented is on a consolidated basis.
Key Performance Indicators
| KPI | VALUES |
|---|---|
| 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.
Msafe Equipments IPO Peer Comparision
| 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 Peer Comparision
| Particulars | Msafe Equipments |
|---|---|
| Revenue | 71.34 |
| PAT | 13.01 |
| EPS (₹) | 8.13 |
| RONW | 50.73% |
| EBITDA | 36.55% |
| PAT Mrgn | 18.24% |
| PE Ratio | 15.13 |
| Techno Craft |
|---|
| 2,595.58 |
| 262.96 |
| 112.32 |
| 14.84% |
| 16% |
| 10.13% |
| 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
Promoter Details
| Name | Shareholding |
|---|---|
| Ajay Kanoi | 34.58% |
| Vansh Aggarwal | 24.00% |
| Pradeep Aggarwal | 21.00% |
| Gaurav Kanoi | 10.00% |
| Rajani Kanoi | 5.00% |
| Others | 4.55% |
| Total | 99.13% |
Management Details
| Name | Designation |
|---|---|
| Pradeep Aggarwal | Chairman & MD |
| Sombir | CFO |
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
Book Running Lead Managers (BRLMs)
RTAs
Maashitla Securities
Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
Msafe Equipments IPO is a SME IPO having an issue size of Rs. ₹66.42 Crs. Msafe Equipments IPO is priced at ₹116 - ₹123 per share. The issue opens on 28 Jan 26 and closes on 30 Jan 26.
Msafe Equipments IPO opens on 28 Jan 26 and closes on 30 Jan 26.
The estimated Grey Market Premium of Msafe Equipments IPO is ₹22 per share (17.89%).
The minimum lot size of Msafe Equipments IPO is 1000 shares & the minimum application amount is Rs. 123000.
The allotment date of Msafe Equipments IPO is 02 Feb 26.
The listing date of Msafe Equipments IPO is 04 Feb 26.
Msafe Equipments IPO is subscribed 153.98 times.
Msafe Equipments IPO is priced at ₹116 - ₹123 per share.
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