Msafe Equipments IPO Receives Exceptional Response, Subscribed 166.72x on Day 3

Msafe Equipments Limited's initial public offering (IPO) has demonstrated exceptional investor interest through its third and final day of subscription. The stock price band is set at ₹116-123 per share. The ₹66.42 crore IPO reached 166.72 times by 5:19:57 PM on day three. 

Msafe Equipments IPO subscription reached exceptional 166.72 times on day three. It was led by Non-Institutional Investors (308.23x), Individual Investors (133.16x), and Qualified Institutional Buyers Ex-Anchor (117.97x). Total applications reached 1,53,156.

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Subscription Status of Msafe Equipments IPO:

Here are the subscription details for Msafe Equipments IPO as of Day 3 (January 30, 2026, 5:19:57 PM):

Key Highlights - Day 3:

• Overall subscription reached exceptional 166.72 times, showing extraordinary improvement from day two's 13.56 times
• Individual investors showing exceptional confidence at 133.16 times, building substantially from day two's 15.15 times, indicating extraordinary retail demand for this SME IPO
• Qualified institutional buyers (ex-anchor) displaying exceptional performance at 117.97 times, building dramatically from day two's 0.81 times, indicating very strong institutional appetite emerging on the final day
• Total applications reached 1,53,156, showing exceptional investor participation for this SME IPO, a massive increase from day two's applications
• Cumulative bid amount reached ₹7,335.34 crores, significantly exceeding the net offer size of ₹62.75 crores (excluding anchor and market maker portions) by over 116 times
• Market makers fully subscribed their allocation of ₹3.67 crores

Msafe Equipments IPO - Day 2 Subscription at 13.56 Times

Key Highlights - Day 2:

• Overall subscription reached strong 13.56 times, showing substantial improvement from day one's 2.37 times
• Non-institutional investors displaying exceptional performance at 26.65 times, building substantially from day one's 3.46 times
• Individual investors showing strong confidence at 15.15 times, building substantially from day one's 2.78 times
• Qualified institutional buyers displaying weak performance at 0.81 times, marginally improving from day one's 0.80 times

Msafe Equipments IPO - Day 1 Subscription at 2.37 Times

Key Highlights - Day 1:

• Overall subscription reached moderate 2.37 times, showing cautious initial investor interest
• Non-institutional investors displaying moderate performance at 3.46 times, indicating moderate HNI appetite
• Individual investors showing moderate confidence at 2.78 times, indicating moderate retail interest
• Qualified institutional buyers displaying weak performance at 0.80 times, indicating weak institutional interest

About Msafe Equipments Limited

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.