Msafe Equipments IPO is scheduled to open on January 28, 2026, and will close on January 30, 2026. It is a book-built issue through which the company plans to raise approximately ₹66.42 crore. The IPO comprises a fresh issue of ₹54.12 crore and an offer for sale of up to 10,00,000 equity shares, each with a face value of ₹10.
The price band for the Msafe Equipments IPO is set between ₹116 and ₹123 per share. The issue allocation includes 50% for QIBs, 35% for retail investors, and 15% for HNIs. The shares are expected to be listed on the BSE SME platform on February 4, 2026, with the allotment scheduled to be finalized on February 2, 2026.
In terms of financial performance, the company reported revenue of ₹71.62 crore in FY2025, up from ₹48.34 crore in FY2024. Net profit increased to ₹13.01 crore in FY2025 from ₹6.55 crore in FY2024. Based on these financials, the IPO may be suitable for investors with a long-term investment perspective
Msafe Equipments IPO 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
DRHP Draft Prospectus
RHP Draft Prospectus
Msafe Equipments IPO Review & Key Points
Review:
Msafe Equipments IPO Market Lot
The minimum market lot for the Msafe Equipments IPO is 2,000 shares, requiring an application amount of ₹2,46,00
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
IPO Reservation
Investor Category
Share Offered
-% Shares
Anchor Investor
– Shares
-%
QIB (Ex. Anchor)
25,42,000 Shares
50%
NII Shares Offered
7,74,000 Shares
14.33%
Retail Shares Offered
17,86,000 Shares
33.07%
Msafe Equipments IPO Anchor Investors
Anchor Bidding Date
January, 2026
Anchor Investors List
Shares Offered
[.] Shares
Anchor Size
[.] Cr.
lock-in period end date 50% shares (30 Days)
2026
lock-in period end date 50% shares (90 Days)
2026
Msafe Equipments IPO Dates
The Msafe Equipments IPO will open on January 28 and close on January 30. The allotment is expected to be finalized on February 2, with the IPO listing scheduled for February 4.
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
Promoters and Holding Pattern
The promoters of the company are Pradeep Aggarwal, Ajay Kumar Kanoi, Vansh Aggarwal, Rushil Agarwal, Gaurav Ajay Kumar Kanoi, Rajani Ajay Kanoi, and Monika Aggarwal.
Particular
Shares
% Share
Promoter Holding Pre Issue
1,60,00,000
15.12%
Promoter Holding Post Issue
2,04,00,000
19.28%
Objects of the Issue & Utilisation of proceeds
Purpose
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; and
₹15.00
General Corporate Purpose
₹-
About Msafe Equipment IPO
Established in 2019, Msafe Equipments is engaged in the manufacturing, sale, and rental of height-safety equipment for professionals working at elevated locations. Its product range includes aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders, and fibre-reinforced plastic (FRP) ladders. These solutions are widely used in construction, maintenance, installation, repair, and infrastructure projects to promote safe working conditions.
The company operates three manufacturing units in Greater Noida, Uttar Pradesh, supported by 17 warehouses across states such as Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal. These facilities handle storage and distribution for both sales and rental operations. As of 2025, Msafe Equipments has supplied its products across 22 states and 3 Union Territories, catering to clients in construction, HVAC, MEP, electrical works, fire safety, interiors, and warehousing sectors.
Msafe Equipment IPO Company Financial Report
Amount ₹ in Crores
Period Ended
Revenue
Expense
PAT
Assets
2023
₹29.71
₹24.83
₹3.65
₹33.54
2024
₹48.34
₹39.58
₹6.55
₹48.19
2025
₹71.62
₹54.19
₹13.01
₹73.59
Msafe Equipment IPO Valuation – FY2025
Check Msafe Equipments IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
KPI
Values
ROE:
67.97%
ROCE:
34.56%
EBITDA Margin:
36.55%
PAT Margin:
18.24%
Debt to equity ratio:
–
Earning Per Share (EPS):
₹8.13 (Basic)
Price/Earning P/E Ratio:
N/A
Return on Net Worth (RoNW):
50.73%
Net Asset Value (NAV):
₹16.03
Peer Group Comparison
Company
EPS
PE Ratio
RoNW %
NAV
Income
Techno Craft India Industries Limited
112.32
24.60
14.84%
781.69
2,595.58 Cr.
IPO Lead Managers aka Merchant Bankers
Seren Capital Pvt. Ltd.
Company Address
Msafe Equipments Ltd. F-311, 3rd Floor Aditya Arcade Plot No. 30 Community Center, Preet Vihar, East Delh New Delhi, New Delhi, 110092 Phone: +91-88822 07104 Email: info@msafegroup.com Website: http://www.msafegroup.com/
