Msafe Equipments IPO commenced on Wednesday, January 28 and will conclude on Friday, January 30. Msafe Equipments IPO price band has been set at ₹116 ₹123 equity share, each with a face value of ₹10. Investors can place bids for a minimum of 1,000 equity shares and in multiples of 1,000 shares thereafter.
Msafe Equipments Limited specializes in the production, distribution, and leasing of equipment for access and height safety, ensuring safe working conditions at elevated heights.
Its range of products consists of aluminum scaffolding, mild steel (MS) scaffolding, aluminum ladders, and fibre-reinforced plastic (FRP) ladders, addressing the operational and safety requirements in various sectors such as construction, maintenance, installation, repair, and infrastructure development.
The company has three manufacturing plants located in Greater Noida, Uttar Pradesh, and is supported by a network of 17 warehouses spread across various states including Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal. These facilities allow for efficient storage, dispatching, and collection of products for both sales and rental purposes.
In the financial year 2025 (FY25), the company reported operational revenue of ₹71.34 crore, which is an increase of 48.22% compared to ₹48.13 crore from the previous year.
The company’s earnings before interest, tax, depreciation, and amortization (EBITDA) reached ₹26.07 crore in FY25, rising 72.52% from ₹15.11 crore the prior year. Its profit after tax (PAT) was ₹13.01 crore, compared to ₹6.55 crore in FY24.
The finalization of the share allotment for the company is anticipated to occur on Monday, February 2. Following that, the shares will be deposited into investors’ demat accounts on Tuesday, February 3. Msafe Equipments shares are provisionally set to be listed on the BSE SME platform on Wednesday, February 4, 2026.
Msafe Equipments IPO subscription status
Msafe Equipments IPO subscription status is 1.65x on day 1 so far, as per chittorgarh.com. The retail portion was subscribed 2.04x, and NII portion was booked 2.57x. The qualified institutional buyers portion is booked 29%.
The company has received bids for 59,16,000 shares against 35,77,000 shares on offer on the first bidding day, at 15:04 IST, according to data on chittorgarh.com.
Msafe Equipments IPO details
The company intends to raise ₹66.42 crore, which includes a new issue of 4.4 million equity shares alongside an offer for sale (OFS) of 1 million shares.
As outlined in the red herring prospectus (RHP), the firm plans to allocate ₹32.26 crore from the net proceeds of the fresh issue to establish a new manufacturing facility, ₹6 crore for the production of equipment intended for rental purposes, and ₹8 crore for working capital needs. The remaining capital will be directed towards general corporate purposes.
Maashitla Securities is functioning as the registrar for the public offering, while Seren Capital is acting as the sole book-running lead manager.
Msafe Equipments IPO GMP today
Msafe Equipments IPO GMP today or gray market premium is ₹22. Considering the upper end of the IPO price band and the current premium in the gray market, the estimated listing price of Msafe Equipments share price was indicated at ₹145 apiece, which is 17.89% higher than the IPO price of ₹123.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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