Msafe Equipments
Table of Contents
- 01 IPO Description
- 02 IPO Parameters
- 03 IPO Roadmap
- 04 GMP History
- 05 Msafe Equipments IPO – Key Details
- 06 Msafe Equipments IPO – Market Lot Details
- 07 Msafe Equipments IPO – Reservation Details
- 08 Msafe Equipments IPO – Anchor Investors
- 09 Msafe Equipments IPO – Important Dates
- 10 Msafe Equipments IPO – Promoters & Holding Pattern
- 11 Msafe Equipments IPO – Objects of the Issue
- 12 About Msafe Equipments IPO
- 13 Msafe Equipments IPO – Company Financial Report
- 14 Msafe Equipments IPO – Valuation (FY 2025)
- 15 Msafe Equipments IPO – Peer Group Comparison
- 16 IPO Lead Managers aka Merchant Bankers
IPO PARAMETERS
IPO ROADMAP
Grey Market Premium HISTORY
| Date | GMP (₹) | Daily Change | Gain (%) |
|---|---|---|---|
| 04 Feb 2026 | ₹21.00 | +₹1.00 | 17.07% |
| 03 Feb 2026 | ₹20.00 | -₹6.00 | 16.26% |
| 02 Feb 2026 | ₹26.00 | +₹1.00 | 21.14% |
| 30 Jan 2026 | ₹25.00 | +₹2.00 | 20.33% |
| 29 Jan 2026 | ₹23.00 | - | 18.70% |
Msafe Equipments IPO – Key DETAILS
| IPO Open Date | January 28, 2026 |
| IPO Close Date | January 30, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹116 to ₹123 Per Share |
| Issue Size | Approx ₹66.42 Crores |
| Fresh Issue | Approx ₹54.12 Crores |
| Offer for Sale | Approx 10,00,000 Equity Shares |
| Issue Type | Book Build Issue |
| IPO Listing | BSE SME |
Msafe Equipments IPO – Market Lot DETAILS
| Application | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 2 | 2,000 | 2,46,000 |
| Retail Maximum | 2 | 2,000 | 2,46,000 |
| S‑HNI Minimum | 3 | 3,000 | 3,69,000 |
| S‑HNI Maximum | 8 | 8,000 | 9,84,000 |
| B‑HNI Minimum | 9 | 9,000 | 11,07,000 |
Msafe Equipments IPO – Reservation DETAILS
| Investor Category | Shares Offered | Percentage (%) |
|---|---|---|
| Anchor Investors | 15,25,000 | 28.24% |
| QIB (Ex‑Anchor) | 10,17,000 | 18.83% |
| NII | 7,74,000 | 14.33% |
| Retail | 17,86,000 | 33.07% |
Msafe Equipments IPO – Anchor INVESTORS
| Anchor Bidding Date | January 27, 2026 |
| Shares Offered to Anchor Investors | 15,25,000 Shares |
| Anchor Issue Size | ₹18.76 Crores |
| Lock‑in Period (50% Shares – 30 Days) | March 4, 2026 |
| Lock‑in Period (50% Shares – 90 Days) | May 3, 2026 |
Msafe Equipments IPO – Important DATES
| 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 |
Msafe Equipments IPO – Promoters & Holding PATTERN
| Particulars | Shares | Shareholding (%) |
|---|---|---|
| Promoter Holding (Pre Issue) | 1,60,00,000 | 15.12% |
| Promoter Holding (Post Issue) | 2,04,00,000 | 19.28% |
Promoters: Pradeep Aggarwal, Ajay Kumar Kanoi, Vansh Aggarwal, Rushil Agarwal, Gaurav Ajay Kumar Kanoi, Rajani Ajay Kanoi and Monika Aggarwal.
Msafe Equipments IPO – Objects of the ISSUE
| Purpose | Amount (₹ Crores) |
|---|---|
| Funding of capital expenditure towards setup of a new manufacturing facility | 27.20 |
| Funding of capital expenditure for manufacturing of equipments for rental purpose | 10.00 |
| Utilization towards working capital requirements | 15.00 |
| General Corporate Purpose | – |
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
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | PAT (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| FY 2023 | 29.71 | 24.83 | 3.65 | 33.54 |
| FY 2024 | 48.34 | 39.58 | 6.55 | 48.19 |
| FY 2025 | 71.62 | 54.19 | 13.01 | 73.59 |
| Sep 2025 | 49.07 | 34.98 | 10.50 | 87.67 |
Msafe Equipments IPO – Valuation (FY 2025)
| Return on Equity (ROE) | 67.97% |
| Return on Capital Employed (ROCE) | 34.56% |
| EBITDA Margin | 36.55% |
| PAT Margin | 18.24% |
| Debt to Equity Ratio | – |
| Earning Per Share (EPS) | ₹8.13 (Basic) |
| Price / Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 50.73% |
| Net Asset Value (NAV) | ₹16.03 |
Msafe Equipments IPO – Peer Group COMPARISON
| Company | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) | Income (₹ Cr) |
|---|---|---|---|---|---|
| Techno Craft India Industries Limited | 112.32 | 24.60 | 14.84% | 781.69 | 2,595.58 |
IPO Lead Managers aka Merchant BANKERS
- Seren Capital Pvt. Ltd.