Msafe Equipments IPO Description – Incorporated in 2019, Msafe Equipments is engaged in the manufacturing, sales, and rental of access and height-safety equipment designed for safe operations at elevated work sites. Its diverse product portfolio includes aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders, and fibre-reinforced plastic (FRP) ladders, serving industries such as civil construction, infrastructure development, HVAC, MEP contracting, electrical works, warehousing, firefighting, and facility management. These solutions support critical applications including façade installation, painting, plastering, HVAC and MEP works, fire safety, and warehouse operations, significantly reducing workplace accident risks.
The company operates through a dual revenue model comprising product sales and rentals, with rental services contributing the larger share—51.65% in FY 2024-25. It served over 2,500 customers across 22 indian states and 3 union territories, in addition to exports to UAE, Nigeria, and Maldives, which contributed 2.23% of total revenues. Repeat customers accounted for 53% of revenue in FY 2025.
Manufacturing is carried out in-house through three facilities in Greater Noida, Uttar Pradesh, with a combined installed capacity exceeding 0.2 crore kg per annum, covering aluminium scaffoldings, MS scaffoldings, and ladders. The operations are further supported by a network of 17 warehouses across india for storage, dispatch, inspection, and refurbishment. As of 30 June 2025, the company employed 299 permanent staff and 28 contractual workers.
Promoters of Msafe Equipments – Pradeep Aggarwal, Ajay Kumar Kanoi, Vansh Aggarwal, Rushil Agarwal, Gaurav Ajay Kumar Kanoi, Monika Agarwal and Rajani Ajay Kanoi
Table of Contents
Msafe Equipments IPO Details
| Msafe Equipments IPO Dates | 28 – 30 January 2025 |
| Msafe Equipments Issue Price | INR 116 – 123 per share |
| Fresh Issue | 44,00,000 shares (INR 51.04 – 54.12 crore) |
| Offer For Sale | 10,00,000 shares (INR 11.60 – 12.30 crore) |
| Total IPO Size | 54,00,000 shares (INR 62.64 – 66.42 crore) |
| Minimum Bid | 2,000 shares (INR 2,46,000) |
| Lot Size | 1,000 shares (INR 1,23,000) |
| Face Value | INR 10 per share |
| Individual Allocation | 35% |
| Listing On | BSE SME |
Msafe Equipments Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 29.70 | 48.13 | 71.34 |
| Expenses | 24.83 | 39.58 | 54.19 |
| Net income | 3.65 | 6.55 | 13.01 |
Msafe Equipments Offer News
- Msafe Equipments RHP
- Msafe Equipments Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- Highest SME IPO Subscription in 2025
Msafe Equipments Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 | |
| EPS | 2.28 | 4.09 | 8.13 |
| PE ratio | – | – | 14.27 – 15.13 |
| RONW (%) | 59.94 | 51.85 | 50.73 |
| NAV | 3.80 | 7.90 | 16.03 |
| ROCE (%) | 23.28 | 28.04 | 34.56 |
| EBITDA (%) | 30.94 | 31.40 | 36.55 |
| Debt/Equity | 3.35 | 2.05 | 1.27 |
Msafe Equipments IPO GMP Today
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| Coming soon | – | – | – |
Msafe Equipments IPO Subscription – Live Updates
Coming soon
The market maker reservation portion of () shares and the anchor investor portion of () shares are not included in the above calculations.
Msafe Equipments IPO Allotment Status
Msafe Equipments IPO allotment status will be available on the Maashitla Securities website. Click on this link to get the allotment status.
Msafe Equipments IPO Dates & Listing Performance
| IPO Opening Date | 28 January 2026 |
| IPO Closing Date | 30 January 2026 |
| Finalization of Basis of Allotment | 2 February 2026 |
| Initiation of refunds | 3 February 2026 |
| Transfer of shares to demat accounts | 3 February 2026 |
| IPO Listing Date | 4 February 2026 |
| Opening Price on BSE SME | Coming soon |
| Closing Price on BSE SME | Coming soon |
Msafe Equipments Offer Lead Manager
SEREN CAPITAL PRIVATE LIMITED
Office no. 601 to 605, Raylon Arcade, Kondivita,
J.B. Nagar, Mumbai – 400059
Phone: +91-22-46011058
Email: [email protected]
Website: www.serencapital.in
Msafe Equipments Offer Registrar
MAASHITLA SECURITIES PRIVATE LIMITED
451, Krishna Apra, Business Square, Netaji Subhash Place,
Pitampura, Delhi 110034
Tel: 011-47581432
E-mail: [email protected]
Website: www.maashitla.com
Msafe Equipments Contact Details
MSAFE EQUIPMENTS LIMITED
F-311, 3rd Floor, Aditya Arcade Plot No. 30,
Community Center, Preet Vihar, East Delhi 110092
Phone: +91-8882207104
E-mail: [email protected]
Website: www.msafegroup.com
IPO FAQs
What is the Msafe Equipments offer size?
Msafe Equipments offer size is INR 62.64 – 66.42 crores.
What is the Msafe Equipments offer price band?
Msafe Equipments public offer price is INR 116 – 123 per share.
What is the lot size of the Msafe Equipments IPO?
Msafe Equipments offer lot size is 1,000 shares.
What is the Msafe Equipments IPO GMP today?
Msafe Equipments IPO GMP today is INR NA per share.
What is the Msafe Equipments kostak rate today?
Msafe Equipments kostak rate today is INR NA per application.
What is the Msafe Equipments IPO Subject to Sauda rate today?
Msafe Equipments Subject to Sauda rate today is INR NA per application.