Msafe Equipments Limited IPO
Msafe Equipments Limited IPO
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Having completed its public offering, Msafe Equipments Limited's is now listed and trading on the BSE exchange as of 04-02-2026. The IPO raised cumulative capital of 54,00,000 Shares, including 44,00,000 Shares in primary capital infusion and ₹12.30 Cr in secondary market transactions.
The IPO was conducted with a price range of ₹116 to ₹123 and minimum investment requirement of 1000 shares. subscription activity between 28-01-2026 and 30-01-2026 reflected market assessment of the offering's valuation and prospects.
The allotment process finalized on 02-02-2026 distributed equity ownership to successful bidders. The listing established a transparent market mechanism for share trading, price discovery, and investor participation in the company's future growth.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Msafe Equipments IPO About Company
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.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Msafe Equipments IPO Strength Factors
- Multi-Model Revenue Stream: Earns revenue from both sales and rental of height-safety equipment.
- In-House Manufacturing: Certified facilities ensure reliable and high-quality products.
- Diversified Customer Base: Serves multiple industries and regions, reducing concentration risk.
Msafe Equipments IPO Risk Factors
- Sector Dependence: Heavy reliance on construction and infrastructure makes the business vulnerable to industry slowdowns.
- Product Concentration Risk: High dependence on aluminium scaffolding may impact revenue if demand declines.
- No Long-Term Customer Contracts: Revenue largely depends on individual purchase and work orders.
Msafe Equipments IPO Lead Manager(s)
- Seren Capital Private Limited
Msafe Equipments IPO Promoter(s)
- Pradeep Aggarwal
- Ajay Kumar Kanoi
- Vansh Aggarwal
- Rushil Agarwal
- Gaurav Ajay Kumar Kanoi
- Rajani Ajay Kanoi
- Monika Aggarwal
Msafe Equipments IPO FAQs
Msafe Equipments Limited IPO subscribed 166.81 times. The public issue subscribed 133.16 times in the retail category,117.97times in QIB, and 381.43 times in the HNI (10+) category byFebruary 4, 2026 4:15:02 AM (Day 4).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Msafe Equipments IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Msafe Equipments IPO FAQs
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