What is the GMP of Msafe Equipments IPO today?

The Grey Market Premium (GMP) for Msafe Equipments IPO is currently ₹20. With an upper price band of ₹123, the estimated listing price is ₹143 per share, reflecting an expected listing gain of ~16.26%. Grey market premiums can fluctuate based on market sentiment and subscription demand.

What is the price band and lot size for Msafe Equipments IPO?

The price band for Msafe Equipments IPO is ₹116 to ₹123 per equity share. The minimum lot size is 1000 shares, which requires a minimum retail application investment of ₹1,23,000.

What are the important dates for Msafe Equipments IPO?

Msafe Equipments IPO opens for subscription on 2026-01-28T00:00:00 and closes on 2026-01-30T00:00:00. The basis of allotment is scheduled for 2026-02-02T00:00:00, and shares are expected to list on 2026-02-04T00:00:00 on BSE, NSE.

How can I check the allotment status for Msafe Equipments IPO?

You can check Msafe Equipments IPO allotment status on the registrar's official portal (Maashitla Securities Pvt Ltd) or through the official BSE and NSE IPO allotment status pages using your PAN number or Application number.

How to apply for Msafe Equipments IPO?

Investors can apply for Msafe Equipments IPO online through ASBA (Application Supported by Blocked Amount) via their internet banking account, or via UPI using authorized stockbroking platforms like Zerodha, Groww, Angel One, and Upstox.

When does the Msafe Equipments IPO open and close?

The IPO opens on 28 Jan 2026, and closes on 30 Jan 2026.

What is Msafe Equipments IPO price band?

The issue price band is ₹116.00 to ₹123.00 per equity share.

What is the Msafe Equipments IPO lot size?

The minimum lot size is 1000 shares per application.

What is the Msafe Equipments IPO allotment date?

The allotment is scheduled on 2 Feb 2026.

Msafe Equipments IPO Details - Dates, Price Band, Issue Size

All IPOs

Issue Size

66.42 Cr

Price Band

₹116.00 - ₹123.00

Lot Size

1000 Shares

Min Investment

₹2,46,000

GMP

₹20

Subscription

166.72x

₹7,335.34 Cr

28 Jan 2026

IPO Opens

COMPLETED

30 Jan 2026

IPO Closes

COMPLETED

02 Feb 2026

Basis of Allotment

COMPLETED

03 Feb 2026

Refunds

COMPLETED

03 Feb 2026

Demat Credit

COMPLETED

04 Feb 2026

Listing

COMPLETED

IPO Timeline

IPO OpensDONE

28 Jan 2026

IPO ClosesDONE

30 Jan 2026

Basis of AllotmentDONE

02 Feb 2026

RefundsDONE

03 Feb 2026

Demat CreditDONE

03 Feb 2026

ListingDONE

04 Feb 2026

About Msafe Equipments IPO

Msafe Equipments IPO open date is January 28, 2026 and the IPO will close on January 30, 2026. Msafe Equipments IPO is a Book Build Issue. The company to raise around ₹66.42 crores via IPO that comprises fresh issue of ₹54.12 crores and offer for sale up to 10,00,000 equity shares with face value of ₹10 each.

Msafe Equipments IPO price band is ₹116 to ₹123 per share. The retail quota is 35%, QIB is 50%, and HNI is 15%. Msafe Equipments IPO to list on BSE SME on February 4, 2026. The allotment of Msafe Equipments IPO date is February 2, 2026.

The company reported revenue of ₹71.62 crores in 2025 against ₹48.34 crores in 2024. The company reported profit of ₹13.01 crores in 2025 against profit of ₹6.55 crores in 2024. As per the financials the IPO investors should apply the IPO for a long term.

IPO Details

Msafe Equipments IPO Details and Specifications
IPO Date	28 Jan 2026 to 30 Jan 2026
Face Value	₹10 Per Share
Price Band	₹116.00 - ₹123.00
Lot Size	1000 Shares
Total Issue Size	Approx 66.42 Cr 54,00,000 Equity Shares
Fresh Issue	Approx 52.12 Cr 44,00,000 Equity Shares
Offer for Sale	Approx 12.30 Cr 10,00,000 Equity Shares
Retail Portion	35.01%
Sale Type	Offer for sale
Issue Type	Bookbuilding IPO
Listing Date	04 Feb 2026
Listing At	BSE
Total Subscription Amount	₹7,335.34 Cr

Issue Reservation

Investor Category	Shares Offered	% Net Issue
QIB	25,42,000	49.82%
- Anchor	15,25,000	0.00%
- QIB (Ex. Anchor)	10,17,000	0.00%
NII	7,74,000	15.17%
- bNII > ₹10L	5,16,000	0.00%
- sNII < ₹10L	2,58,000	0.00%
Retail	17,86,000	35.01%
Total	51,02,000	100.00%

IPO Lot Size

Application	Lots	Shares	Amount
Individual investors (Retail) (Min)	2	2,000	₹2,46,000
Individual investors (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

About Company

Incorporated in 2019, Msafe Equipments Limited is engaged in the manufacturing, sales, and rental of access and height-safety equipment used for safe working at heights.

Its product portfolio includes aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders, and fibre reinforced plastic (FRP) ladders, catering to operational and safety needs across construction, maintenance, installation, repair, and infrastructure development activities.

The Company operates three manufacturing facilities in Greater Noida, Uttar Pradesh, supported by a network of 17 warehouses across multiple states including Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal. These facilities enable efficient storage, dispatch, and collection of products for both sales and rentals.

Contact Details

Msafe Equipments Ltd.

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

Visit Website

Registrar

Maashitla Securities Pvt Ltd

+91-11-45121795

investor.po@maashitla.com

Lead Managers

Seren Capital Pvt Ltd

Day-wise GMP Trend

Date & Time	GMP (₹)	Est. Listing Price	Est. Gain (%)	Est. Profit / Lot (₹)
04-Feb-2026 12:00 PM	+₹20	₹143	+16.26%	₹20,000
03-Feb-2026 12:00 PM	+₹20	₹143	+16.26%	₹20,000
02-Feb-2026 12:00 PM	+₹26	₹149	+21.14%	₹26,000
01-Feb-2026 12:00 PM	+₹26	₹149	+21.14%	₹26,000
31-Jan-2026 12:00 PM	+₹26	₹149	+21.14%	₹26,000
30-Jan-2026 12:00 PM	+₹25	₹148	+20.33%	₹25,000
29-Jan-2026 12:00 PM	+₹23	₹146	+18.70%	₹23,000
28-Jan-2026 12:00 PM	+₹20	₹143	+16.26%	₹20,000
26-Jan-2026 12:00 PM	+₹11	₹134	+8.94%	₹11,000
24-Jan-2026 12:00 PM	+₹11	₹134	+8.94%	₹11,000
23-Jan-2026 12:00 PM	+₹7	₹130	+5.69%	₹7,000
22-Jan-2026 12:00 PM	+₹7	₹130	+5.69%	₹7,000

Subscription Status

Category	Subscription (x)	Shares Offered	Shares bid for	Total Amount (₹ Cr)
QIB (Ex. Anchor)	117.97x	10,17,000	11,99,79,000	₹1,475.74 Cr
NII	308.23x	7,74,000	23,85,70,000	₹2,934.41 Cr
bNII > ₹10L	380.85x	5,16,000	19,65,21,000	₹2,417.21 Cr
sNII < ₹10L	162.98x	2,58,000	4,20,49,000	₹517.20 Cr
Retail	133.16x	17,86,000	23,78,20,000	₹2,925.19 Cr
Total	166.72x	35,77,000	59,63,69,000	₹7,335.34 Cr

Objects of the Issue

01 Funding of Capital expenditure towards setup of a new Manufacturing Facility : 32.26 Cr
02 Funding of Capital expenditure for manufacturing of equipments for rental purpose : 6.00 Cr
03 Utilization towards working capital requirements : 8.00 Cr
04 General Corporate Purpose : 1.76 Cr
05 Issue Expenses : 7.48 Cr

Company Financials

Period Ended	30 SEPT 2025	31 MAR 2025	31 MAR 2024
Total Income	49.07	71.62	48.34
Profit After Tax	10.50	13.01	6.55
EBITDA	19.21	26.08	15.12
NET Worth	36.15	25.65	12.64
Reserves and Surplus	20.15	24.65	11.64
Total Borrowing	37.67	32.56	25.87

Amount in ₹ Crore

IPO Valuation - KPI

KPI	31 Mar 2025
ROCE	34.56%
Return on Net Worth (RoNW)	50.73%
PAT Margin	18.24%
EBITDA Margin	36.55%
Net Asset Value (NAV)	₹16.03
Earning Per Share (EPS)	₹8.13
Price/Earning P/E Ratio	14x

Peer Comparison

Company Name	EPS (₹)	P/E (x)	NAV (₹)	RoNW (%)	Income (₹ Cr)
Techno Craft India Industries Limited	112.32	24.60	781.69	14.84	2,595.58

Promoters and Holding Pattern

Pradeep Aggarwal, Ajay Kumar Kanoi, Vansh Aggarwal, Rushil Agarwal, Gaurav Ajay Kumar Kanoi, Rajani Ajay Kanoi, Monika Aggarwal are the company's promoters of Msafe Equipments.

Particular	Pre IPO	Post IPO
Promoter and Promoter Group	100.00%	73.53%
Others*	0.00%	26.47%

Strengths

Experienced core team supported by experienced and senior management team
The "Infraon Infinity” platform offers AI-driven modules for On-Premises and SaaS customers.
Cordial relationship with the channel partners.
Diversified Platform Development and Market Expansion.

Frequently Asked Questions (FAQ)

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About Msafe Equipments IPO

IPO Details

Msafe Equipments IPO Details and Specifications
IPO Date	28 Jan 2026 to 30 Jan 2026
Face Value	₹10 Per Share
Price Band	₹116.00 - ₹123.00
Lot Size	1000 Shares
Total Issue Size	Approx 66.42 Cr 54,00,000 Equity Shares
Fresh Issue	Approx 52.12 Cr 44,00,000 Equity Shares
Offer for Sale	Approx 12.30 Cr 10,00,000 Equity Shares
Retail Portion	35.01%
Sale Type	Offer for sale
Issue Type	Bookbuilding IPO
Listing Date	04 Feb 2026
Listing At	BSE
Total Subscription Amount	₹7,335.34 Cr

Investor Category

Shares Offered

% Net Issue

QIB

25,42,000

49.82%

- Anchor

15,25,000

0.00%

- QIB (Ex. Anchor)

10,17,000

0.00%

NII

7,74,000

15.17%

- bNII > ₹10L

5,16,000

0.00%

- sNII < ₹10L

2,58,000

0.00%

Retail

17,86,000

35.01%

Total

51,02,000

100.00%

Application

Lots

Amount

Individual investors (Retail) (Min)

2,000

₹2,46,000

Individual investors (Retail) (Max)

2,000

₹2,46,000

S-HNI (Min)

3,000

₹3,69,000

S-HNI (Max)

8,000

₹9,84,000

B-HNI (Min)

9,000

₹11,07,000

About Company

Incorporated in 2019, Msafe Equipments Limited is engaged in the manufacturing, sales, and rental of access and height-safety equipment used for safe working at heights.

Contact Details

Msafe Equipments Ltd.

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

Visit Website

Date & Time

GMP (₹)

Est. Listing Price

Est. Gain (%)

Est. Profit / Lot (₹)

04-Feb-2026 12:00 PM

+₹20

₹143

+16.26%

₹20,000

03-Feb-2026 12:00 PM

+₹20

₹143

+16.26%

₹20,000

02-Feb-2026 12:00 PM

+₹26

₹149

+21.14%

₹26,000

01-Feb-2026 12:00 PM

+₹26

₹149

+21.14%

₹26,000

31-Jan-2026 12:00 PM

+₹26

₹149

+21.14%

₹26,000

30-Jan-2026 12:00 PM

+₹25

₹148

+20.33%

₹25,000

29-Jan-2026 12:00 PM

+₹23

₹146

+18.70%

₹23,000

28-Jan-2026 12:00 PM

+₹20

₹143

+16.26%

₹20,000

26-Jan-2026 12:00 PM

+₹11

₹134

+8.94%

₹11,000

24-Jan-2026 12:00 PM

+₹11

₹134

+8.94%

₹11,000

23-Jan-2026 12:00 PM

+₹7

₹130

+5.69%

₹7,000

22-Jan-2026 12:00 PM

+₹7

₹130

+5.69%

₹7,000

Msafe Equipments IPO Details

About Msafe Equipments IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

Promoters and Holding Pattern

Strengths

Frequently Asked Questions (FAQ)

When does the Msafe Equipments IPO open and close?

What is Msafe Equipments IPO price band?

What is the Msafe Equipments IPO lot size?

What is the Msafe Equipments IPO allotment date?

What is the Msafe Equipments IPO listing date?

What is the minimum investment required in Msafe Equipments IPO?

Join the discussion

Msafe Equipments IPO Details

About Msafe Equipments IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

Promoters and Holding Pattern

Strengths

Frequently Asked Questions (FAQ)

When does the Msafe Equipments IPO open and close?

What is Msafe Equipments IPO price band?

What is the Msafe Equipments IPO lot size?

What is the Msafe Equipments IPO allotment date?

What is the Msafe Equipments IPO listing date?

What is the minimum investment required in Msafe Equipments IPO?

Join the discussion