Msafe Equipments IPO Details
| IPO Open Date | January 28, 2026 |
| IPO Close Date | January 30, 2026 |
| Face Value | ā¹10 Per Equity Share |
| IPO Price Band | ā¹116 to ā¹123 Per Share |
| Issue Size | Approx ā¹66.42 Crores |
| Fresh Issue | Approx ā¹54.12 Crores |
| Offer for Sale: | Approx 10,00,000 Equity Shares |
| Issue Type | Book Build Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Msafe Equipments IPO Review & Key Points
- Review: Neutral
Msafe Equipments IPO Market Lot
The Msafe Equipments IPO minimum market lot is 2,000 shares with ā¹2,46,000 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,000 | ā¹2,46,000 |
| Retail Maximum | 2 | 2,000 | ā¹2,46,000 |
| S-HNI Minimum | 3 | 3,000 | ā¹3,69,000 |
| S-HNI Maximum | 8 | 8,000 | ā¹9,84,000 |
| B-HNI Minimum | 9 | 9,000 | ā¹11,07,000 |
IPO Reservation
| Investor Category | Share Offered | % Shares |
| Anchor Investor | 15,25,000 Shares | 28.24% |
| QIB (Ex. Anchor) | 10,17,000 Shares | 18.83% |
| NII Shares Offered | 7,74,000 Shares | 14.33% |
| Retail Shares Offered | 17,86,000 Shares | 33.07% |
Msafe Equipments IPO Anchor Investors
| Anchor Bidding Date | January 27, 2026 |
| Anchor Investors List | |
| Shares Offered | 15,25,000 Shares |
| Anchor Size | 18.76 Cr. |
| lock-in period end date 50% shares (30 Days) | March 4, 2026 |
| lock-in period end date 50% shares (90 Days) | May 3, 2026 |
Msafe Equipments IPO Dates
The Msafe Equipments IPO date is January 28 and the close date is January 30. The Msafe Equipments IPO allotment will be finalized on February 2 and the IPO listing on February 4.
| IPO Open Date: | January 28, 2026 |
| IPO Close Date: | January 30, 2026 |
| Basis of Allotment: | February 2, 2026 |
| Refunds: | February 3, 2026 |
| Credit to Demat Account: | February 3, 2026 |
| IPO Listing Date: | February 4, 2026 |
| IPO Bidding Cut-off Time: | January 30, 2026 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Pradeep Aggarwal, Ajay Kumar Kanoi, Vansh Aggarwal, Rushil Agarwal, Gaurav Ajay Kumar Kanoi, Rajani Ajay Kanoi and Monika Aggarwal.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,60,00,000 | 15.12% |
| Promoter Holding Post Issue | 2,04,00,000 | 19.28% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Funding of Capital expenditure towards setup of a new Manufacturing Facility; | ā¹27.20 |
| Funding of Capital expenditure for manufacturing of equipments for rental purpose; | ā¹10.00 |
| Utilization towards working capital requirements; and | ā¹15.00 |
| General Corporate Purpose | ā¹- |
About Msafe Equipments IPO
Msafe Equipments, founded in 2019, produces, sells, and offers height-safety equipment for rent to workers who work at heights. Its products include aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders, and fibre reinforced plastic (FRP) ladders. Their products mainly cater to construction, maintenance, installation, repair, and infrastructure development activities to ensure safe working.
The company runs 3 manufacturing facilities in Greater Noida, Uttar Pradesh, with 17 warehouses running in states like Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal. These facilities store and deliver the products for sales and rental purposes. Msafe has manufactured its products across 22 states and 3 Union Territories, serving clients in construction, HVAC, MEP, electrical works, fire safety, interiors, and warehousing sectors as of 2025.
Msafe Equipments IPO Company Financial Report
Amount ā¹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ā¹29.71 | ā¹24.83 | ā¹3.65 | ā¹33.54 |
| 2024 | ā¹48.34 | ā¹39.58 | ā¹6.55 | ā¹48.19 |
| 2025 | ā¹71.62 | ā¹54.19 | ā¹13.01 | ā¹73.59 |
| Sep 2025 | ā¹49.07 | ā¹34.98 | ā¹10.50 | ā¹87.67 |
Msafe Equipments IPO Valuation – FY2025
Check Msafe Equipments IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 67.97% |
| ROCE: | 34.56% |
| EBITDA Margin: | 36.55% |
| PAT Margin: | 18.24% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ā¹8.13 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 50.73% |
| Net Asset Value (NAV): | ā¹16.03 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Techno Craft India Industries Limited | 112.32 | 24.60 | 14.84% | 781.69 | 2,595.58 Cr. |
IPO Lead Managers aka Merchant Bankers
- Seren Capital Pvt. Ltd.
Company Address
Msafe Equipments Ltd.
F-311, 3rd Floor
Aditya Arcade Plot No. 30
Community Center, Preet Vihar, East Delh
New Delhi, New Delhi, 110092
Phone: +91-88822 07104
Email: [email protected]
Website: http://www.msafegroup.com/
IPO Registrar
Maashitla Securities Pvt. Ltd.
Phone: +91-11-45121795-96
Email: [email protected]
Website: https://maashitla.com/allotment-status/public-issues
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