Msafe Equipments SME IPO
Msafe Equipments IPO — date, price band, GMP & allotment 2026
Msafe Equipments’ IPO was a ₹66.42 crore public issue listed on the BSE SME platform in early February 2026. The Greater Noida‑based company makes and rents height‑safety products like aluminium and mild‑steel scaffoldings and ladders used in construction and maintenance work across India. The IPO, priced between ₹116–₹123 per share, received very strong subscription and aims to fund new manufacturing capacity, rental fleet expansion, working capital needs and general corporate purposes.
Stock price
Msafe Equipments is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 September.
- Open 28 Jan 2026
- Close 30 Jan 2026
- Allotment 02 Feb 2026
- Refund/credit 03 Feb 2026
- Listing 04 Feb 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 28 to 30 Jan, 2026 |
|---|---|
| Price Band | ₹116 TO 123 |
| Face Value | ₹10 |
| Lot Size | 1000 Shares |
| Issue Size | ₹66.42 Cr. Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE SME |
| Registrar | Maashitla Securities Private Limited |
| Min Investment | ₹ 2,46,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 1000 shares at the ₹123 cut-off. The SME retail application is a fixed 2 lots; HNI starts at 3.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 2 | 2,000 | ₹2,46,000 |
| Retail (max) | 2 | 2,000 | ₹2,46,000 |
| HNI (min) | 3 | 3,000 | ₹3,69,000 |
Three years of numbers
All figures in ₹ crore, as reported in the Msafe Equipments offer document.
| Metric | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 87.67 | 73.59 | 48.19 | 33.54 |
| Total Income | 49.07 | 71.62 | 48.34 | 29.71 |
| Profit After Tax | 10.50 | 13.01 | 6.55 | 3.65 |
| EBITDA | 19.21 | 26.08 | 15.12 | 9.19 |
| NET Worth | 36.15 | 25.65 | 12.64 | 6.09 |
| Reserves and Surplus | 20.15 | 24.65 | 11.64 | 5.09 |
| Total Borrowing | 37.67 | 32.56 | 25.87 | 20.37 |
See how this IPO compares — view listing performance of all SME IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Msafe Equipments RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Msafe Equipments IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹10.29 |
| P/E Ratio (x) | 11.95 |
| Market Cap at Offer Price (₹ Cr) | ₹125.51 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹123 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹46.26 Cr of the issue is earmarked to named objects.
About the company
The company operates on a business model that combines product manufacturing with sourcing and distribution, enabling it to offer a comprehensive safety solution to its customers. Promoted by experienced professionals with industry knowledge, Msafe Equipments focuses on quality standards and compliance with safety regulations. Its revenue is driven by bulk orders, repeat clients, and long-term contracts, supported by a growing distribution network across various regions in India.
Interested in this IPO? Check the live subscription status or browse all upcoming SME IPOs.
+91-88822 07104
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Seren Capital Pvt. Ltd.
4 issues handledBest listing: Recode Studios (+34.9%). Weakest: Rajnandini Fashion India (0.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Msafe Equipments?
The current Grey Market Premium is ₹21, or 17% over the issue price.
What is the Msafe Equipments IPO price band?
₹116 to ₹123, on a face value of ₹10.
When is the allotment?
The basis of allotment is 2 February 2026, with listing on 4 February 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Maashitla Securities Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every SME and Mainboard issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
