Msafe Equipments Limited is entering the public markets through SME IPO with an issue size of ₹66.42 crore. The issue consists of a fresh issue of ₹54.12 crore and an offer for sale of ₹12.30 crore. The shares are proposed to be listed on BSE & SME.
The IPO subscription window opens on January 28, 2026 and will remain open until January 30, 2026. The company plans to list its shares on February 4, 2026. Being an SME IPO, the issue may appeal to investors familiar with lower liquidity listings.
Msafe Equipments Limited IPO Timeline
IPO Quick Facts
This section covers the main IPO details of Msafe Equipments Limited that investors generally review before applying.
IPO Details at a Glance
| Company Name | Msafe Equipments Limited |
|---|---|
| IPO Segment | SME |
| Sale Type | Fresh Issue + Offer For Sale |
| Issue Type | Bookbuilding IPO |
| Price | ₹123 Per Share |
| Lot Size | 1,000 Shares |
| Face Value | ₹10 Per Share |
| Exchange | BSE & SME |
Investor Category & Share Allocation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Market Maker | 298,000 | 5.52% |
| Qualified Institutional Buyers (QIB) | 2,542,000 | 47.07% |
| — Anchor Investor | 1,525,000 | 28.24% |
| — QIB (Ex Anchor) | 1,017,000 | 18.83% |
| NII (HNI) | 774,000 | 14.33% |
| — bNII > ₹10L | 516,000 | 9.56% |
| — sNII < ₹10L | 258,000 | 4.78% |
| Retail | 1,786,000 | 33.07% |
| Total Shares Offered | 5,400,000 | 100.00% |
Msafe Equipments Limited IPO Important Dates
The following table highlights the key dates for the Msafe Equipments Limited IPO, covering the subscription period and the expected listing timeline.
| IPO Opening Date | 28 Jan 2026 |
|---|---|
| IPO Closing Date | 30 Jan 2026 |
| Allotment Finalization | 02 Feb 2026 |
| Initiation of Refunds | 03 Feb 2026 |
| Credit of Shares | 03 Feb 2026 |
| IPO Listing Date | 04 Feb 2026 |
Msafe Equipments Limited IPO Size & Structure
| Total IPO Size | ₹66.42 Crore |
|---|---|
| Offer For Sale | ₹12.30 Crore |
| Fresh Issue | ₹54.12 Crore |
Msafe Equipments IPO Lot Size & Minimum Investment
The table below shows the lot size and investment amount for the Msafe Equipments IPO, which is a fixed price IPO priced at ₹123 per share.
Investors can apply for the IPO with a minimum of 1000 shares. Applications must be made in multiples of 1000 shares.
- Retail investors can apply from 2 lot to 2 lots.
- Small HNI (SHNI) investors must apply for at least 3 lots.
- Big HNI (BHNI) investors need to apply for a minimum of 9 lots.
This information helps investors understand the minimum investment required before applying for the IPO.
Note: Retail investors generally apply at the cut-off price, which is ₹123 per share.
| Category | Lots | Shares | Price | Amount |
|---|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹123 | ₹246,000 |
| Retail (Max) | 2 | 2,000 | ₹123 | ₹246,000 |
| S-HNI (Min) | 3 | 3,000 | ₹123 | ₹369,000 |
| S-HNI (Max) | 8 | 8,000 | ₹123 | ₹984,000 |
| B-HNI | 9 | 9,000 | ₹123 | ₹1,107,000 |
Msafe Equipments Limited IPO GMP (Grey Market Premium)
The latest Msafe Equipments Limited IPO GMP (Grey Market Premium), along with Kostak rates and Subject to Sauda rates, helps in understanding market sentiment. The current Msafe Equipments Limited IPO GMP is ₹20 (16.26%), compared to the IPO issue price of ₹123. Based on the current GMP, the expected listing price is around ₹143. The Lowest GMP was ₹7 on 23 Jan 2026, while the highest GMP reached ₹26 on 02 Feb 2026.
Msafe Equipments Limited IPO was listed on the stock exchange on 04 Feb 2026. The IPO was subscribed 152.6 times. The first reported GMP was ₹7 (5.69%), while the latest recorded GMP stood at ₹20 (16.26%).Listing Details:
- Issue Price: ₹123 per share.
- Listing Price: ₹144.00 (approx. 17.07% gain)
- Listing Date: 04 Feb 2026
Msafe Equipments Limited IPO GMP Today - Trend Analysis
| Date | Issue Price (₹) | GMP Price (₹) | Estimated Gain (%) | Estimated Price (₹) | Estimated Profit (₹) |
|---|---|---|---|---|---|
| 04 Feb 2026 | ₹123 | ₹20 | 16.26% | ₹143 | ₹40,000 |
| 03 Feb 2026 | ₹123 | ▼ ₹20 | ▼ 16.26% | ₹143 | ₹40,000 |
| 02 Feb 2026 | ₹123 | ₹26 | 21.14% | ₹149 | ₹52,000 |
| 01 Feb 2026 | ₹123 | ₹26 | 21.14% | ₹149 | ₹52,000 |
| 31 Jan 2026 | ₹123 | ▲ ₹26 | ▲ 21.14% | ₹149 | ₹52,000 |
| 30 Jan 2026 | ₹123 | ▲ ₹25 | ▲ 20.33% | ₹148 | ₹50,000 |
| 29 Jan 2026 | ₹123 | ▲ ₹23 | ▲ 18.7% | ₹146 | ₹46,000 |
| 28 Jan 2026 | ₹123 | ▲ ₹20 | ▲ 16.26% | ₹143 | ₹40,000 |
| 27 Jan 2026 | ₹123 | ₹11 | 8.94% | ₹134 | ₹22,000 |
| 26 Jan 2026 | ₹123 | ₹11 | 8.94% | ₹134 | ₹22,000 |
| 24 Jan 2026 | ₹123 | ▲ ₹11 | ▲ 8.94% | ₹134 | ₹22,000 |
| 23 Jan 2026 | ₹123 | ₹7 | 5.69% | ₹130 | ₹14,000 |
| 22 Jan 2026 | ₹123 | ▲ ₹7 | ▲ 5.69% | ₹130 | ₹14,000 |
Msafe Equipments Limited IPO GMP gives retail and institutional investors an idea about short-term market expectations. Although grey market premium does not guarantee listing performance, it is still commonly referred to while analysing IPOs. Investors are advised to look at Msafe Equipments Limited fundamentals along with IPO GMP data before making any investment decision.
GMP Disclaimer: GMP (Grey Market Premium) prices are unofficial and only reflect market sentiment. We neither participate in grey-market trading nor encourage it. Investors are strongly advised to review the company’s fundamentals, risks, and official documents before considering an investment in the Msafe Equipments Limited IPO.
Msafe Equipments Limited IPO Subscription Status
Msafe Equipments Limited IPO was subscribed 152.6 times overall on the final day of bidding (as of 30 Jan 2026).The subscription opened on 28 Jan 2026. The Retail portion was subscribed 130.38 times, while QIB and NII categories were subscribed 117.97 times and 222.48 times respectively.
Subscription by Category (QIB, NII, Retail, Employee)
Daily Subscription Trend (Day-wise):
| Date | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| 28 Jan 2026 | 0.8x | 2.5x | 2.78x | — | 2.18x |
| 29 Jan 2026 | 0.81x | 19.52x | 15.15x | — | 12.6x |
| 30 Jan 2026 | 117.97x | 222.48x | 130.38x | — | 152.6x |
The Msafe Equipments Limited IPO opened with strong demand on Day-1, supported by active participation from Retail and NII investors.
On Day-2, subscription levels for the Msafe Equipments Limited IPO rose sharply due to heavy bidding from NII, followed by Retail investors.
By the end of the bidding period, the IPO was subscribed 152.6x overall, reflecting strong demand from key investor categories, led by NII, followed by QIB and Retail investors. Overall subscription for the Msafe Equipments Limited IPO increased from 2.18x on Day-1 to 152.6x by the final day.
Msafe Equipments Limited IPO Final Subscription
| Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 117.97x |
| Non-Institutional Investors (NII) | 222.74x |
| Retail Investors | 132.37x |
| Total | 153.59x |
Msafe Equipments Limited IPO Allotment Status
The Msafe Equipments Limited IPO allotment status was released on 02 Feb 2026. Investors who applied for the IPO can now check their Msafe Equipments Limited allotment status online through the official registrar website and NSE / BSE portal.
- 🗓 Allotment Date: 02 Feb 2026
- 📈 Listing Date: 04 Feb 2026
How to Check Msafe Equipments Limited IPO Allotment Status Online?
Investors can check the Msafe Equipments Limited IPO allotment status online through Maashitla Securities Pvt. Limited and BSE websites. All platforms provide easy access to the IPO allotment details.
Just follow the below mentioned steps to check your allotment status.You can also visit
Maashitla Securities Pvt.
to know more about the IPO registrar.
Check on Maashitla Securities Pvt. Limited (IPO Registrar)
- Visit → Maashitla Securities Private Limited
- Select Msafe Equipments Limited
- Select
- Enter the relevant details to proceed further
- Click Submit to view allotment status
Check on BSE (Bombay Stock Exchange) Website
- Visit → BSE Website.
- Select Issue Type: Equity.
- Choose Msafe Equipments Limited IPO.
- Enter your PAN or Application Number.
- Click on Search button.
The Bombay Stock Exchange (BSE) also allows investors to check the Msafe Equipments Limited IPO allotment status online.
Note: Allotment status is published only on the official registrar websites. We do not collect investor data or provide allotment verification directly.
How to Apply for Msafe Equipments Limited IPO?
Login to Your Trading App
Open your trading app such as Angel One, Zerodha, Upstox, Groww or any brokerage app.
Go to the IPO Section
Navigate to the IPO section in the app, search for the IPO, and enter your bid details.
Enter Your UPI ID
Provide your UPI ID that is linked to your bank account for payment authentication.
Approve the Mandate
Open your UPI app and approve the payment mandate to block the required amount.
Application Confirmation
Application submitted successfully, the funds will remain blocked until allotment is finalized.
Msafe Equipments Limited debuted at ₹144, listing at a premium of +₹21 (+17.07%). The stock closed at ₹150.3. Investors earned a profit of +₹27,300 per lot.
📌 IPO Issue Price and Lot Size
The IPO of Msafe Equipments Limited was offered in the price band of ₹123 to ₹123 per share.
- The final issue price was fixed at ₹123.
- One lot consisted of 1000 shares.
- Minimum investment: ₹123 × 1000 = ₹123,000
- Investment after Day-1: ₹150.3 × 1000 = ₹150,300
- By the end of the listing session, investors made a profit of +₹27,300 per lot.
📌 IPO Subscription Analysis
Backed by robust demand of 152.6× and institutional subscription of 117.97×, the IPO witnessed a bumper listing. The stock debuted at 17.07% and closed at 22.20%, highlighting exceptional investor confidence.
| Day | QIB | NNI | Retail | Total |
|---|---|---|---|---|
| Day 1 | 0.8x | 2.5x | 2.78x | 2.18x |
| Day 2 | 0.81x | 19.52x | 15.15x | 12.6x |
| Day 3 | 117.97x | 222.48x | 130.38x | 152.6x |
📌 Final Assessment
Overall Outcome: Successful IPO
- Subscription Phase: High investor participation
- Listing Phase: Strong listing performance
- Investor Experience: Strong short-term gains for investors
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.
IPO Financial Summary
- Total Assets changed by 52.71% in FY 2024-2025.
- Total Revenue changed by 48.16% in FY 2024-2025.
- Profit After Tax changed by 98.63% in FY 2024-2025.
- Reserves & Surplus changed by 111.77% in FY 2024-2025.
- Total Borrowings changed by 25.86% in FY 2024-2025.
| Metric | 2025-09-30 | 2025-03-31 | 2024-03-31 | 2023-03-31 |
|---|---|---|---|---|
| Total Assets (₹ Cr) | 87.67 | 73.59 | 48.19 | 33.54 |
| Total Revenue (₹ Cr) | 49.07 | 71.62 | 48.34 | 29.71 |
| Profit After Tax (₹ Cr) | 10.50 | 13.01 | 6.55 | 3.65 |
| Reserves & Surplus (₹ Cr) | 20.15 | 24.65 | 11.64 | 5.09 |
| Total Borrowings (₹ Cr) | 37.67 | 32.56 | 25.87 | 20.37 |
Utilisation of Proceeds
The Company proposes to utilise the net IPO proceeds of approximately ₹48.02 crore towards the following objectives:
| # | Purpose | Amount (₹ Cr) | % of Total |
|---|---|---|---|
| 1 | Funding of Capital expenditure towards setup of a new Manufacturing Facility. | 32.26 | 67.18% |
| 2 | Funding of Capital expenditure for manufacturing of equipments for Rental purpose. | 6.00 | 12.49% |
| 3 | Utilization towards working capital requirements. | 8.00 | 16.66% |
| 4 | General corporate purposes | 1.76 | 3.67% |
| Total | 48.02 | 100% | |
Msafe Equipments IPO Promoter Holding
| Promoter(s) | Pradeep Aggarwal, Ajay Kumar Kanoi, Vansh Aggarwal, Rushil Agarwal, Gaurav Ajay Kumar Kanoi, Rajani Ajay Kanoi and Monika Aggarwal |
|---|---|
| Pre-Issue Holding | 100% |
| Post-Issue Holding | 73.53% |
Msafe Equipments Limited IPO FAQs
The Msafe Equipments Limited IPO is a SME Bookbuilding IPO with a total issue size of ₹66.42 crore. The issue consists of a fresh issue of ₹54.12 crore and an offer for sale of ₹12.30 crore.
The IPO will open for subscription on Wed, 28 Jan 2026 and will close on Fri, 30 Jan 2026.
The shares are being offered at a fixed issue price of ₹123 per equity share.
Investors can apply for the IPO with a minimum lot size of 1,000 shares.
At the upper price band, the minimum investment required for one lot is approximately ₹246,000.
The shares of Msafe Equipments Limited are expected to be listed on BSE & SME on Wed, 04 Feb 2026.
The Grey Market Premium (GMP) of Msafe Equipments Limited IPO is ₹20.
The expected listing price of Msafe Equipments Limited IPO is around ₹143 based on current GMP. This indicates a potential return of approximately 16.26% , with an estimated profit of ₹20,000 per lot, subject to market conditions.
The Msafe Equipments Limited IPO was subscribed 153.59 times on the final day of subscription.
The retail portion is subscribed 130.38 times as of 30 Jan 2026.
The QIB portion is subscribed 117.97 times and the NII portion is subscribed 222.48 times .
The IPO registrar of Msafe Equipments Limited is Maashitla Securities Pvt. Limited. Maashitla is responsible for processing IPO applications, finalizing allotment, crediting shares, and initiating refunds.
The allotment date is expected on Mon, 02 Feb 2026.
Allotment status is generally updated in the evening (6 PM – 10 PM) on Mon, 02 Feb 2026 on the registrar or exchange website.
Shares are expected to be credited by Tue, 03 Feb 2026.
Refunds for unsuccessful applicants will be initiated on Tue, 03 Feb 2026.
Investors can check refund status via:
- UPI mandate / bank account (NACH, NEFT, RTGS)
- ASBA bank portal
Msafe Equipments Limited IPO is listed on BSE.
The current share price of Msafe Equipments Limited is ₹131.35. The stock opened at ₹137.40, hit a high of ₹137.45 and a low of ₹128.00.
Msafe Equipments Limited share price has decreased by ₹1.05 (0.79%) compared to the previous close. The stock has declined 8.78% from its listing price of ₹144.00 on BSE.
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