Msafe Equipments Limited Link 
Allotment
Msafe Equipments IPO is a book-built issue worth ₹66.42 crore, comprising a fresh issue of 0.44 crore equity shares aggregating to ₹54.12 crore and an offer for sale of 0.10 crore equity shares amounting to ₹12.30 crore.
The IPO will open for subscription on January 28, 2026, and close on January 30, 2026. The allotment is expected to be finalized on February 2, 2026, with the shares likely to list on the BSE SME platform on February 4, 2026.
The price band for the issue has been fixed at ₹116 to ₹123 per share. The lot size is 1,000 shares.
Retail investors must apply for a minimum of 2 lots (2,000 shares), requiring an investment of ₹2,46,000 at the upper price band.
HNI investors are required to apply for at least 3 lots (3,000 shares), amounting to ₹3,69,000.
Seren Capital Pvt. Ltd. is the Book Running Lead Manager, while Maashitla Securities Pvt. Ltd. is the Registrar to the Issue.
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Open
₹123
HIgh - Low
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Previous Close
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Total Traded Value
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52 Weeks High
₹123
52 Weeks Low
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Updates On
Jan 21, 2026
IPO. Open
Jan 28, 2026
IPO. Close
Jan 30, 2026
IPO. Price
₹123.00
IPO Market price
₹250.92 Cr
IPO Details
| IPO Date | 4 Feb |
| IPO Listing Date | 4 Feb |
| IPO Face Value | ₹10.00 per share |
| IPO Price Range | ₹123.00 |
| IPO Issue Size | 54,00,000 shares |
| IPO Sale Type | Fresh Capital & OFS |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | BSE SME Platform |
| Share Holding Pre Issue | 1,60,00,000 shares |
IPO Timeline
| IPO Open Date | 28 Jan |
| IPO Close Date | 30 Jan |
| IPO Allotment (Tentative) | 2 Feb |
| Refunds | 3 Feb |
| Credit to Demat Account | 3 Feb |
| IPO Listing Date | 4 Feb |
IPO Reservation
| Category | Offer |
|---|---|
| QIB Shares Offered | 25,42,000 Shares |
| NII (HNI) Shares Offered | 7,74,000 Shares |
| Retail Shares Offered | 17,86,000 Shares |
IPO Lot Size
Investors can apply for a minimum of 2,000 shares, and thereafter in multiples of 1,000 shares.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹2,46,000 |
| Retail (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 |
Incorporated in 2019, Msafe Equipments Limited is engaged in the manufacturing, sale, and rental of access and height-safety equipment designed to ensure safe working at elevated locations.
The Company’s product portfolio includes aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders, and fibre-reinforced plastic (FRP) ladders, catering to safety and operational requirements across construction, maintenance, installation, repair, and infrastructure development activities.
Msafe operates three manufacturing facilities in Greater Noida, Uttar Pradesh, supported by a network of 17 warehouses located across multiple states, including Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal. This infrastructure enables efficient storage, dispatch, and retrieval of products for both sales and rental operations.
During Fiscal 2025, the Company supplied its products across 22 States and 3 Union Territories, serving a wide range of industries such as construction, HVAC, MEP, electrical works, fire safety, interior fit-outs, and warehousing.
As of June 30, 2025, Msafe Equipments employed 299 permanent staff and 28 contractual employees, supporting its operational efficiency and expanding nationwide presence.
Company Financials (Consolidated)
| Assets | 73.59 | 48.19 | 33.54 |
| Total Income | 71.62 | 48.34 | 29.71 |
| Profit After Tax | 13.01 | 6.55 | 3.65 |
| EBITDA | 26.08 | 15.12 | 9.19 |
| NET Worth | 25.65 | 12.64 | 6.09 |
| Reserves and Surplus | 24.65 | 11.64 | 5.09 |
| Total Borrowing | 32.56 | 25.87 | 20.37 |
Key Performance Indicator (KPI)
| ROE | 67.97% |
| ROCE | 34.56% |
| Debt/Equity | - |
| RoNW | 50.73% |
| PAT Margin | 18.24% |
| EBITDA Margin | 36.55% |
| Price to Book Value | 7.67 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | - |
| 4 | Offer for Sale (OFS) | - |
Contact Details
Msafe Equipments Ltd. Address
F-311, 3rd Floor
Aditya Arcade Plot No. 30
Community Center, Preet Vihar, East Delh
New Delhi, New Delhi, 110092
+91-88822 07104
info@msafegroup.com
http://www.msafegroup.com/
Detail Registrar
IPO Registrar
Maashitla Securities Pvt.Ltd.
+91-11-45121795-96
investor.po@maashitla.com
https://maashitla.com/allotment-status/public-issues
The IPO opens on January 28, 2026, and closes on January 30, 2026, giving investors a three-day window to subscribe through the BSE SME platform.
The price band is set at ₹116 to ₹123 per share, with a minimum lot size of 1,000 shares. Investors must apply in multiples of 1,000 shares.
Retail investors must apply for at least 2 lots (2,000 shares), requiring an investment of ₹2,46,000 at the upper price band, while HNI investors have higher minimum lot requirements.
The allotment is expected on February 2, 2026, refunds will initiate on February 3, 2026, and shares are tentatively listed on BSE SME on February 4, 2026.
This is a book-built IPO raising ₹66.42 crore, including fresh capital and an offer for sale, aimed at funding growth, operations, and partial share sale by existing shareholders.
Founded in 2019, the company manufactures, sells, and rents access and height-safety equipment like scaffoldings and ladders, serving construction, maintenance, and industrial sectors across India.
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