Msafe Equipments IPO
Msafe Equipments IPO Details
-
Open Date
28 Jan 2026
-
Close Date
30 Jan 2026
-
Listing Date
04 Feb 2026
- IPO Price Range
₹ 116 to ₹123
- IPO Size
₹ 66.42 Cr
- Listing Exchange
BSE SME
Msafe Equipments IPO Timeline
Msafe Equipments IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 28-Jan-2026 | 0.80 | 3.46 | 2.78 | 2.37 |
| 29-Jan-2026 | 0.81 | 26.65 | 15.15 | 13.56 |
| 30-Jan-2026 | 117.97 | 308.23 | 133.16 | 166.72 |
Last Updated: 30 January 2026 6:49 PM by 5paisa
Msafe Equipments Limited, manufactures, sells, and rents access and height-safety equipment, including aluminium and MS scaffoldings, aluminium and FRP ladders. With three manufacturing units in Greater Noida and 17 warehouses across key states, the company serves construction, maintenance, MEP, electrical, fire safety, and warehousing sectors. Its products reach 22 states and 3 union territories, supported by a workforce of 350 permanent and 66 contractual employees, ensuring operational efficiency and nationwide coverage.
Established in: 2019
Managing Director: Pradeep Aggarwal
Peers:
Techno Craft India Industries Limited
Msafe Equipments Objectives
1. Funding capital expenditure for setting up a new manufacturing facility, ₹32.26 Cr
2. Funding capital expenditure for manufacturing equipment for rental purposes, ₹6.00 Cr
3. Meeting working capital requirements, ₹8.00 Cr
4. General corporate purposes
Msafe Equipments IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹66.42 Cr |
| Offer For Sale | ₹12.30 Cr |
| Fresh Issue | ₹54.12 Cr |
Msafe Equipments IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | 2,32,000 |
| Retail (Max) | 2 | 2,000 | 2,46,000 |
| S-HNI (Min) | 3 | 3,000 | 3,48,000 |
| S-HNI (Max) | 8 | 8000 | 9,84,000 |
| B-HNI (Min) | 9 | 9000 | 10,44,000 |
Msafe Equipments IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 117.97 | 10,17,000 | 11,99,79,000 | 1,475.74 |
| Non-Institutional Buyers | 308.23 | 7,74,000 | 23,85,70,000 | 2,934.41 |
| bNII (bids above ₹10L) | 380.85 | 5,16,000 | 19,65,21,000 | 2,417.21 |
| sNII (bids below ₹10L) | 162.98 | 2,58,000 | 4,20,49,000 | 517.20 |
| Individual Investors (IND category bidding for 2 Lots) | 133.16 | 17,86,000 | 23,78,20,000 | 2,925.19 |
| Total** | 166.72 | 35,77,000 | 59,63,69,000 | 7,335.34 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 29.70 | 48.13 | 71.34 |
| EBITDA | 9.19 | 15.11 | 26.08 |
| PAT | 3.65 | 6.55 | 13.01 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 73.59 | 48.19 | 33.54 |
| Share Capital | 1.00 | 1.00 | 1.00 |
| Total Liabilities | 73.59 | 48.19 | 33.54 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities | 4.52 | 6.45 | 14.37 |
| Net Cash Generated From / (used in) Investing Activities | - 12.96 | -9.80 | -18.17 |
| Net Cash Generated From / (used in) Financing Activities | 8.57 | 3.45 | 4.00 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 0.22 | 0.32 | 0.52 |
Strengths
1. Strong growth potential in the Indian scaffolding market driven by large-scale infrastructure and industrial projects.
2. Strategic expansion plans, including a new manufacturing facility to increase production capacity.
3. Ability to capitalize on the shift to advanced modular and system scaffolding with higher margins.
4. Compliance with strict safety and sustainability norms, enhancing product credibility.
Weaknesses
1. High dependence on the construction and infrastructure sector for business performance.
2. Significant revenue reliance on Aluminium Scaffolding sales and rentals.
3. No long-term agreements with customers; revenue depends on purchase/work orders.
4. Newly started in-house manufacturing with limited operating history.
Opportunities
1. Growing Indian scaffolding market driven by infrastructure, real estate, and industrial projects.
2. Shift toward advanced modular and system scaffolding, offering higher margins and rental growth.
3. Massive public infrastructure spending through NIP, Smart Cities Mission, and AMRUT programs.
4. Expansion into hanging scaffolding and ladder segments to capture new markets.
Threats
1. Expansion of rental segment based on estimates may face cost or implementation variances.
2. Decline in rental demand or changes in customer preferences could affect business.
3. Products used at heights carry safety risks, exposing the company to claims, litigation, or reputational harm.
4. Volatility in raw material supply or prices could impact operations and financials.
1. Positioned to benefit from rapid growth in India’s scaffolding and height-safety equipment market driven by infrastructure and real estate expansion.
2. Advantage of catering to premium demand through modular and advanced scaffolding systems commanding higher project revenues.
3. Rising emphasis on safety and eco-friendly materials aligns the company with regulatory standards and ESG-focused projects.
4. Strong potential to capture rental and sale segments due to increasing adoption of prefabricated scaffolds across urban and industrial projects.
1. Expansion plans include setting up a new manufacturing facility to scale production and diversify product offerings.
2. Strategic entry into hanging scaffolding and ladder segments to address emerging demand in construction and maintenance sectors.
3. Commitment to maintaining high-quality standards and modular system expertise to meet evolving market needs.
4. Opportunities to leverage increasing industrial activity and public infrastructure spending to grow both domestic and rental operations.
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FAQs
Msafe Equipments IPO opens from January 22, 2026 to January 27, 2026.
The size of Msafe Equipments IPO is approximately ₹66.42 crore.
The price band of Msafe EquipmentsIPO is fixed at ₹116 to ₹123 per share.
To apply for Msafe Equipments IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Hannah Joseph Hospital. IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size is 2000 shares, requiring an investment of approximately ₹2,32,000
The share allotment date of Msafe Equipments IPO is February 2, 2026.
The Msafe Equipments IPO will likely be listed on February 4, 2026.
Seren Capital Pvt.Ltd. is the book-running lead manager.
1. Set up new manufacturing facility, ₹32.26 Cr
2. Manufacture rental equipment, ₹6.00 Cr
3. Fund working capital, ₹8.00 Cr
4. General corporate purposes