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Msafe Equipments Ltd

Msafe Equipments Ltd IPO opened on 28 Jan 2026 and closed on 30 Jan 2026, with a price band of ₹116–₹123 per share. The IPO had a lot size of 1000 shares, requiring a minimum investment of ₹2,46,000 per lot at the upper price band. The issue size was ₹66.42 crore, and the shares get listed on 04 Feb 2026.

Msafe Equipments Ltd IPO Details

Listing Date

04 Feb 2026

Bid Price

₹116 - ₹123

Lot Size

1000 Shares

Minimum Investment

₹2,46,000 / 2 Lots

Issue Size

₹66.42 Cr

Key Dates to Track

    Here are the important dates you need to know in order to participate in this IPO

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Offer Start Date

28th Jan

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Offer End Date

30th Jan

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Allotment Date

2nd Feb

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Refund Initiation

3rd Feb

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Demat Transfer

3rd Feb

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Listing Date

4th Feb

About Msafe Equipments Ltd IPO

Msafe Equipments Limited, incorporated in 2019, operates in the manufacturing, sales, and rental of access and height-safety equipment used for working at elevated sites. The company’s product range includes aluminium scaffoldings, mild steel scaffoldings, aluminium ladders, and fibre reinforced plastic ladders, which are used across construction, maintenance, installation, repair, and infrastructure-related activities. These products are designed to address operational and safety requirements in environments where work at height is involved. The company caters to multiple end-use sectors such as construction, HVAC, MEP services, electrical works, fire safety, interior fit-outs, and warehousing, reflecting the varied applications of its equipment.
 

The company runs three manufacturing units located in Greater Noida, Uttar Pradesh, and supports its operations through a network of 17 warehouses spread across states including Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal. This network facilitates product storage, dispatch, and collection for both sales and rental operations. During Fiscal 2025, Msafe supplied equipment across 22 states and 3 union territories. As of December 31, 2025, the company had 350 permanent employees and 66 contractual staff, supporting its manufacturing and distribution activities across India.

Msafe Equipments Ltd Shareholding Pattern

  Pre-Issue Post-Issue
Promoter Group 99.13% 72.85%
Public Group 0.87% 27.15%

Msafe Equipments Ltd IPO Reservation

QIB Shares Offered 10,17,000 (18.83%)
NII (HNI) Shares Offered 7,74,000 (14.33%)
Retail Shares Offered 17,86,000 (33.07%)
Anchor Investor Shares Offered 15,25,000 (28.24%)
Total Shares Offered 54,00,000
Total Shares With Anchor Investor 54,00,000

Msafe Equipments Ltd IPO Lot Size

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

Msafe Equipments Ltd IPO Anchor Portion Size

Bid Date January 27, 2026

Msafe Equipments Ltd IPO registrar

Maashitla Securities Pvt Ltd
Phone Number 011-47581432
Email Id investor.ipo@maashitla.com
Website www.maashitla.com

Msafe Equipments Ltd IPO Lead Manager

1. Seren Capital Private Limited

Msafe Equipments Ltd Financial Information

March 31, 2025 March 31, 2024 March 31, 2023
Net Worth ₹25.65 Cr ₹12.64 Cr ₹6.09 Cr
Reserves and Surplus ₹24.65 Cr ₹11.64 Cr ₹5.09 Cr
Total Borrowing ₹32.56 Cr ₹25.87 Cr ₹20.37 Cr

Strength of Msafe Equipments Ltd

  • Multi-Model Source of Revenue through Product Sales and Rental Services.
  • In-House Manufacturing facilities supported by quality certifications.
  • Well diversified customer base spread across various industries & geography.
  • Experienced Promoters and management team having domain knowledge.

Risks Involved

  • The company's business is significantly dependent on the performance of the construction and infrastructure sector, and any slowdown or adverse developments in these sectors may adversely affect its business, financial condition, results of operations and cash flows.
  • The company deriveds a significant portion of its revenue from the sale and rental of the company's key product i.e. Aluminium Scaffolding. Any decline in the sale or rental services of its key offering could have an adverse effect on the company's business, results of operations and financial condition.
  • The company does not have long-term agreements with its customers, and the company's revenues are dependent on purchase orders or work orders, which may not be renewed in the future.
  • The object of the Offer relating to expansion of its rental segment is based on estimates and assumptions and the actual cost and implementation may vary from those disclosed.
  • A significant portion of its revenue is derived from the company's rental business, and any decline in rental demand, changes in customer preferences or adverse developments in its rental operations may adversely affect the company's business, financial condition, results of operations and cash flows.
  • The company's products are used in elevated-work environments with inherent safety risks, and any accidents or safety incidents involving its scaffoldings or ladders could expose the company to claims, litigation, regulatory action or reputational harm.
  • The company has recently commenced in-house manufacturing of scaffoldings and ladders, and given the company's limited operating history in manufacturing, the company may faces challenges that could adversely affect its business, financial condition, results of operations and future growth prospects.
  • The company is significantly dependent on a limited number of suppliers for procurement of its raw materials, with which the company does not have any long term agreements and any disruption in supply or volatility in raw material prices may adversely affect its business, financial condition, results of operations and cash flows.
  • There are outstanding legal proceedings involving the Company. Any adverse decisions could impact its cash flows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on the company's business, prospects, results of operations and financial condition.
  • The company's business requires significant investment in equipments and inventories, and any under-utilisation of its rental equipments or inability to efficiently manage inventories could adversely affect the company's profitability, working capital and return on capital employed.
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Industry Outlook of Msafe Equipments IPO

  • As per a Mordor Intelligence report, the India scaffolding market was valued at ₹7,208.97 crore in 2024.

  • The same report projects the market size to reach ₹12,811.78 crore by 2030, based on its stated forecast methodology.

  • The projected growth rate for the scaffolding segment during the 2024–2030 period is reported at 10.06% CAGR.

  • The report attributes this projected expansion to ongoing and planned infrastructure activity, including highway construction, metro-rail projects, and the development of industrial parks.

  • Separately, the India ladders market was valued at ₹1,358.27 crore in 2024, according to the same study.

  • The ladders segment is projected to reach ₹2,233.90 crore by 2030, as per the report’s estimates.

  • The stated compound annual growth rate for the ladders market during the forecast period is 8.65%.

  • These figures are based on industry assessments and projections provided by Mordor Intelligence and reflect the report’s analytical assumptions rather than guaranteed outcomes.


Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for Msafe Equipments IPO.

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Frequently Asked Questions

What is Msafe Equipments Ltd IPO?

Answer Field

Msafe Equipments Ltd IPO is a SME IPO of 54,00,000 equity shares of a face value of ₹10 aggregating up to ₹66.42 Crores. The issue is priced at ₹116 to ₹123 per share. The minimum order quantity is 1000 Shares. The IPO opens on January 28, 2026, and closes on January 30, 2026. Maashitla Securities Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE-SME.

When Msafe Equipments Ltd IPO will open?

Answer Field

The Msafe Equipments Ltd IPO opens on January 28, 2026 and closes on January 30, 2026.

What is the lot size of Msafe Equipments Ltd?

Answer Field

Msafe Equipments Ltd lot size is 1000 shares, and the minimum amount required is ₹2,46,000.

How to apply for Msafe Equipments Ltd IPO?

Answer Field

You can apply in Msafe Equipments Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

  • Login to Bajaj Broking account App/Website & click on IPO
  • Enter the number of lots and price at which you wish to apply.
  • 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.
  • Approve the mandate request on your UPI and funds will be blocked.

When is Msafe Equipments Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Msafe Equipments Ltd IPO will be done on February 02, 2026, and the allotted shares will be credited to your demat account by February 03, 2026.

When is Msafe Equipments Ltd IPO listing date?

Answer Field

The Msafe Equipments Ltd listing date is February 04, 2026.

Who is the registrar of Msafe Equipments Ltd IPO?

Answer Field

The registrar of Msafe Equipments Ltd IPO is Maashitla Securities Pvt Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

Seren Capital Private Limited will be the book-running lead manager of this IPO.

What is the fresh issue of Msafe Equipments Ltd IPO?

Answer Field

The fresh issue size is ₹54.12 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Msafe Equipments Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 1000 shares and ₹2,46,000 amount.

How can I approve the UPI mandate request for Msafe Equipments Ltd IPO?

Answer Field

To apply for Msafe Equipments Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Msafe Equipments Ltd?

Answer Field

The price of each Msafe Equipments Ltd share will be ranging in between ₹116 to ₹123 per share.

What is the cut-off time for the UPI mandate for Msafe Equipments Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, January 30, 2026.

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