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MSAFESME / BSEListed
Msafe Equipments

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, with a product portfolio that includes aluminium scaffoldings, mild steel scaffoldings, aluminium ladders, and fibre reinforced plastic ladders catering to construction, maintenance, installation, repair, and infrastructure development activities. The company operates three manufacturing facilities in Greater Noida, Uttar Pradesh, and is supported by a network of 17 warehouses across states such as Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal, enabling efficient storage, dispatch, and collection for both sales and rental operations. During FY 2025, Msafe supplied products across 22 states and 3 union territories, serving clients in sectors including construction, HVAC, MEP, electrical works, fire safety, interiors, and warehousing, and as of June 30, 2025, the company employed 299 permanent staff and 28 contractual employees to support its nationwide operations.

₹116 - ₹123166.81x sub
Listed Price₹144.00
Listing Gain+17.07%

IPO Schedule & Timeline

Bookbuilding IPO
Open28 Jan 2026
Close30 Jan 2026
Allotment02 Feb 2026
Listing04 Feb 2026

Quota Reservation & Application Lots

Quota Reservation (% Shares)

Anchor15,25,000 shares
28.24%
QIB10,17,000 shares
18.83%
HNI7,74,000 shares
14.33%
Retail17,86,000 shares
33.07%
Market Maker2,98,000 shares
5.52%

Minimum Application Lots

Retail2 Lots (2,000 shares)
₹2,46,000
sHNI3 Lots (3,000 shares)
₹3,69,000
bHNI9 Lots (9,000 shares)
₹11,07,000

Company Promoters

Pradeep AggarwalAjay Kumar KanoiVansh AggarwalRushil AgarwalGaurav Ajay Kumar KanoiRajani Ajay KanoiMonika Aggarwal

Company Background

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, with a product portfolio that includes aluminium scaffoldings, mild steel scaffoldings, aluminium ladders, and fibre reinforced plastic ladders catering to construction, maintenance, install...

Lead Managers & Bankers

Financial Performance

Figures in ₹ Crores
Metric Breakdown

Revenue

Latest (Sep-25)₹49.07 Cr
Growth+65.2%
Revenue Trend (₹ in Crores)
0.027.554.982.4Mar-23Mar-24Mar-25Sep-25
PeriodRev (Cr)PAT (Cr)AssetsDebt
Sep-2549.0710.587.6737.67
Mar-2571.6213.0173.5932.56
Mar-2448.346.5548.1925.87
Mar-2329.713.6533.5420.37

Key Performance Indicators (KPIs)

PeriodEPSROEROCEP/E (Pre)P/E (Post)
Sep-25033.98%21.21%011.95
Mar-25067.97%34.56%15.120
Mar-24069.99%28.04%00

Peer Comparison & Valuation

Financial Performance

Techno Craft India Industries Limited

NAV/Share (₹)777.00
RONW(%)14.84
EPS (Basic) (₹)112.32

Msafe Equipments Ltd

NAV/Share (₹)16.03
RONW(%)50.73
EPS (Basic) (₹)8.13

Valuation

Techno Craft India Industries Limited

P/E(X)19.9
CMP* (₹)2235.30
Face value (₹)10.00

Msafe Equipments Ltd

P/E(X)15.12
CMP* (₹)0
Face value (₹)10.00

Broker & Analyst Reviews

Review Not Available

Institutional broker reviews and analyst reports have not been released for this issue yet. Reviews are typically published 2 to 3 days prior to the issue opening date.

IPO Allotment & Registrar Status

Official Registrar: Maashitla Securities Private Limited

Allotment Finalized
Allotment Date
02 Feb 2026
Official Status
Out / Finalized
Registrar
Maashitla Securities Private Limited
Listing Date
04 Feb 2026

Official Allotment Verification Links

Official Registrar Portal
Maashitla Securities Private Limited

Direct allotment verification on the official registrar portal appointed for Msafe Equipments. Check with PAN or Application No.

Check on Registrar Portal
Stock Exchange Portal
BSE India Investor Portal

Official Bombay Stock Exchange investor verification channel using Issue Name and PAN Number.

Check on BSE India

Allotment Schedule & Milestones

IST
1. Allotment Finalization02 Feb 2026Basis of allotment declared
2. Refund Initiation1 day post allotmentUPI / ASBA mandate unblocked
3. Demat CreditPrior to listingShares credited to CDSL/NSDL
4. Listing Date04 Feb 2026Trading commences on exchange

How to Check Msafe Equipments Allotment Online

1Open Portal

Click on the official registrar link or BSE portal button above.

2Select Company

Select Msafe Equipments from the issue drop-down list.

3Enter Details

Select PAN, Application No., or DP Client ID and type your details.

4View Allocation

Click Submit to check your allotted share count and status.

Prospectus & Official Filings

Allotment FAQs & Help

About Msafe Equipments IPO

Complete issue overview for Msafe Equipments (MSAFE) IPO. The issue features an equity share price band of ₹116 – ₹123 per share with a minimum retail lot size of 1000 Shares (minimum application amount of ₹1,23,000). Explore live market tracking on our GMP Tracker, compare against All IPO GMP Today, or view category bidding on the Subscription Page. Verify official allotment via IPO Registrars or review participating investment bankers in our Lead Managers Directory.

Frequently Asked Questions