Msafe Equipments IPO Details
| Detail | Description |
|---|---|
| IPO Date | 28 to 30 Jan, 2026 |
| Listing Date | Wed, Feb 4, 2026 |
| Face Value | ₹ 10 per share |
| Issue Price Band | ₹ 116 to ₹ 123 |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital & OFS |
| Total Issue Size | 54,00,000 shares (agg. up to ₹ 66 Cr) |
| Reserved for Market Maker | 2,98,000 shares (agg. up to ₹ 4 Cr) |
| Fresh Issue(Ex Market Maker) | 41,02,000 shares (agg. up to ₹ 50 Cr) |
| Offer for Sale | 10,00,000 shares of ₹10 (agg. up to ₹ 12 Cr) |
| Net Offered to Public | 51,02,000 shares (agg. up to ₹ 63 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,60,00,000 shares |
| Share Holding Post Issue | 2,04,00,000 shares |
About Msafe Equipments IPO
Msafe Equipments IPO is a book build issue of ₹66.42 crore, which comprises a fresh issue of ₹54.12 crore and an offer for sale of ₹12.30 crore. The price band is ₹116 to ₹123 and the lot size for an application is 1,000, while the minimum amount required by an individual investor (retail investor) to invest is ₹2,46,000 (2,000 shares). The IPO will open for subscription from Jan 28, 2026, to Jan 30, 2026, on the BSE SME platforms of the stock exchange, with a tentative listing date fixed as Feb 4, 2026.
Company Background
Incorporated in 2019, Msafe Equipments Ltd. is a prominent Indian player specializing in the manufacturing, sales and rental of premium height-safety and access solutions. This company operates 3 advanced facilities in Greater Noida and also produces safety-certified aluminium and MS scaffolding, industrial ladders and aerial work platforms. Msafe has built a pan-India network of 17 warehouses and a presence in 22 states. Msafe serves critical sectors like infrastructure and renewable energy, maintaining high operational standards with a dedicated workforce of over 300 employees.
Operations & Product Range
Facility & Production
Msafe operates 3 advanced manufacturing units in Greater Noida, spanning over 50,000 square feet. The monthly production capacity of Msafe has reached 100 tons for aluminium and 500 tons for mild steel (MS) scaffolding by 2025. The company leverages in-house CAD design facilities to ensure precision and compliance with EN1004 global safety standards.
Brand & Market Presence
Msafe Equipments Ltd. is a leading Indian name in height-safety, featuring flagship brands like 'Msafe' and 'Steelsafe'. With 17 strategically located warehouses, it maintains a strong presence across 22 states and serves international markets via its Dubai-based LLC. ‘Msafe’ brand is synonymous with durability and safety in the construction and aviation sectors.
Revenue Channels
- • Rental services charge (solutions like scaffolding and platforms to major infrastructure and construction players).
- • Direct product sales in both domestic and international markets (like the UAE).
- • Customized service charges (as per the requirements of the clients).
Management & Shareholding
Promoter & Shareholding
The company is primarily promoted by Pradeep Aggarwal, Ajay Kumar Kanoi and Vansh Aggarwal, who collectively held a 100% stake before the Msafe Equipments IPO. But after the Msafe Equipments IPO, the promoter holding will dilute to roughly 78.43%, with the remaining shares distributed among public investors and institutional participants to support capital growth.
Board Members
The board members are led by Mr. Pradeep Aggarwal (Chairman & MD), a qualified Chartered Accountant. He is supported by Whole-time Directors Mr. Ajay Kumar Kanoi and Mr. Rushil Agarwal. The board’s governance is strengthened by independent directors Mr. Vaibhav Mandhana and Mr. Manish Kankani, ensuring professional oversight and transparency.
Msafe Equipments IPO Objectives
- • Funding of capital expenditure for manufacturing facilities as per the requirements to maintain the balance sheet of the company.
- • Investment in the equipments.
- • General Corporate purposes.
Conclusion
Msafe Equipment IPO provides an opportunity to invest in a growing company that shows consistent growth in revenue and profit. The company operates manufacturing facilities with a network of 17 warehouses across multiple states. Msafe Equipments Ltd. supplies products to both the domestic and international markets. Their diverse product portfolio and high-quality products with timely delivery have built trust and assurance in the customers.
Msafe Equipments IPO Financial Information
Latest Revenue
71.62
₹ Crore
Profit After Tax
13.01
₹ Crore
Net Worth
25.65
₹ Crore
Total Borrowing
32.56
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 2025 | 73.59 | 71.62 | 13.01 | 25.65 | 24.65 | 32.56 |
| 31 Mar 2024 | 48.19 | 48.34 | 6.55 | 12.64 | 11.64 | 25.87 |
| 31 Mar 2023 | 33.54 | 29.71 | 3.65 | 6.09 | 5.09 | 20.37 |
| Amount in ₹ Crore | ||||||
Msafe Equipments Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 67.97% |
| ROCE | 34.56% |
| Debt/Equity | - |
| RoNW | 50.73% |
| PAT Margin | 18.24% |
| EBITDA Margin | 36.55% |
| Price to Book Value | 7.67 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.13 | 6.38 |
| P/E (x) | 15.12 | 19.28 |
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Competitive Strengths
Diverse product portfolio and services
Domestic and international market reach .
Efficient storage and timely delivery dispatch that creates trust
Professional members in the management team, with expert promoters who made timely decisions
Download regulatory filings
Msafe Equipments IPO Timeline
| IPO Open Date | Wed, Jan 28, 2026 |
| IPO Close Date | Fri, Jan 30, 2026 |
| Tentative Allotment | Mon, Feb 2, 2026 |
| Initiation of Refunds | Tue, Feb 3, 2026 |
| Credit of Shares to Demat | Tue, Feb 3, 2026 |
| Tentative Listing Date | Wed, Feb 4, 2026 |
| Cut-off time for UPI mandate confirmation | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹ 2,46,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹ 2,46,000 |
| S-HNI (Min) | 3 | 3,000 | ₹ 3,69,000 |
| S-HNI (Max) | 8 | 8,000 | ₹ 9,84,000 |
| B-HNI (Min) | 9 | 9,000 | ₹ 11,07,000 |