Msafe Equipments IPO Closes with 154× Subscription; Other SME Issues Also Clear

The Msafe Equipments Ltd initial public offering (IPO) closed with a massive 153.98‑times subscription, reflecting strong investor demand, while two other SME IPOs — Accretion Nutraveda and Kanishk Aluminium India — also successfully completed their bidding on Friday,  30 January 2026.

All three companies are set to finalise IPO share allotments by  2 February 2026, and their shares are expected to commence trading on the BSE SME platform on 4 February 2026.

📈 Msafe Equipments IPO Highlights

• The issue closed with nearly 153.98 times total subscription.
• Investors bid for about 59.66 crore equity shares against an offer size of 38.75 lakh shares.
• The IPO attracted demand in all investor categories — qualified institutional buyers, non‑institutional investors, and retail — with particularly strong interest from non‑institutional investors.
• Msafe Equipments is raising around ₹ 66.4 crore through its IPO, with shares priced at the upper end of the band of ₹ 116 – ₹ 123 per share.
• The issue comprises a fresh issue of 44 lakh shares and an offer‑for‑sale of 10 lakh shares by promoters.
  

📊 Accretion Nutraveda & Kanishk Aluminium IPOs

• Accretion Nutraveda’s IPO was subscribed about 1.77 times, with investors bidding for 24.4 lakh shares against the offer of 13.76 lakh shares.
  • Retail investors subscribed 2.19 times, non‑institutional investors 1.8 times, and qualified institutional buyers 1.01 times their respective quotas.
  • The company aims to raise ₹ 24.7 crore at a price band of ₹ 122 – ₹ 129 per share.
• Kanishk Aluminium India’s IPO managed full subscription at about 1.04 times, with 41.61 lakh shares picked up against an offer of 40 lakh shares.
  • The company’s issue was priced at ₹ 73 per share, and it plans to raise around ₹ 29.2 crore.
    

📅 Next Steps for Investors

• Basis of Allotment Finalisation: 2 February 2026
• Trading Begins on BSE SME: 4 February 2026
  

📌 Use of IPO Proceeds

• Msafe Equipments plans to use the funds to:
  • Set up a new manufacturing facility (about ₹ 32.25 crore)
  • Acquire equipment for rental purposes (₹ 6 crore)
  • Support working capital (₹ 8 crore)
  • Cover general corporate purposes with remaining proceeds.
• Accretion Nutraveda will use its IPO funds for machinery automation, working capital, and general corporate purposes.
• Kanishk Aluminium India plans to repay loans and enhance branding/promotion of its Baari by Kanishk line, along with general corporate purposes.

Investors and market watchers will now await the official allotment results and the companies’ trading debut next week on the SME platform.