Msafe Equipments IPO GMP today is Rs 21. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
MSAFEEQUIPMENTS
Msafe Equipments IPO GMP, Subscription & Allotment Status Today
Msafe Equipments is a SME IPO with a price band of Rs 116.00 to Rs 123.00 that listed on 04 Feb 2026 at a listing gain of +17.07%. Track its full GMP history, subscription data and listing details here.
- Price Band
- ₹116.00 - ₹123.00
- Lot Size
- 1,000 Shares
- Bidding Closes
- 30 Jan 2026
- Listing Date
- 04 Feb 2026
Current GMP Status
₹21
+17.07% vs upper band
Est. Listing Gain
+17.07%
Last Trend
04 Feb 2026
Listing Price
₹144.00
Retail Entry
₹2,46,000
IPO Details
Complete IPO information
| Current GMP | ₹21 |
|---|---|
| Estimated Listing Gain | +17.07% |
| Price Band | ₹116.00 - ₹123.00 |
| Issue Price | Approx ₹123.00 Crores |
| Listing Price | ₹144.00 |
| Lot Size | 1,000 Shares |
| Issue Type | SME |
| Registrar | TBA |
| Exchange | NSE, BSE |
| Retail Quota | TBA |
| Overall Subscription | TBA |
| Listing Date | 04 Feb 2026 |
| Minimum Investment | ₹2,46,000 |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Msafe Equipments is priced at ₹123 per share. With a minimum lot size of 1,000 shares, a retail investor applying for one lot would need approximately ₹2,46,000 to participate in this SME issue.
The latest recorded Grey Market Premium for Msafe Equipments stands at ₹21, implying an estimated listing gain of around 17.07% over the issue price if it holds until listing. This is up ₹1 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
28 Jan 2026
✓
Bidding Closes
30 Jan 2026
✓
Allotment
TBA
✓
Listing
04 Feb 2026
Grey Market Premium
Daily GMP status
| Date | GMP | 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% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 2,000 | ₹2,46,000 |
| Retail Maximum | 2 Lot | 2,000 | ₹2,46,000 |
| S-HNI Minimum | 3 Lot | 3,000 | ₹3,69,000 |
| S-HNI Maximum | 8 Lot | 8,000 | ₹9,84,000 |
| B-HNI Minimum | 9 Lot | 9,000 | ₹11,07,000 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Analysis
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 |
Analysis
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 |
Analysis
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% |
Analysis
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 |
Analysis
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 |
Analysis
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.
Analysis
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 | – |
Analysis
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.
Analysis
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 |
Analysis
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 |
Analysis
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 |
Analysis
IPO Lead Managers aka Merchant Bankers
- Seren Capital Pvt. Ltd.
FAQ
Msafe Equipments IPO FAQs
Msafe Equipments IPO price band is Rs 116.00 to Rs 123.00. Check the latest issue price, lot size and GMP together before applying.
Msafe Equipments IPO open date is 28 Jan 2026, close date is 30 Jan 2026, and listing date is 04 Feb 2026.
Msafe Equipments IPO lot size is 1,000 shares. The minimum retail investment is Rs 2,46,000.
Msafe Equipments is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Msafe Equipments IPO subscription status currently shows Subscription data is currently awaited.
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