SME
IPO ·
BSE SME
Msafe Equipments Ltd
Listed
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.
Issue details
Price band
₹116 – ₹123
Face value
₹10
Lot size
1,000 shares
Minimum investment
₹2,46,000
Issue size
₹66.42 Cr
Fresh issue
₹50.45 Cr
Offer for sale
₹12.30 Cr
Issue type
Book Built
Exchange
BSE SME
Key dates
Opens
28 Jan 2026
Closes
30 Jan 2026
UPI mandate cut-off
5:00 PM on 30 Jan 2026
Allotment
2 Feb 2026
Refunds
3 Feb 2026
Shares in demat
3 Feb 2026
Listing
4 Feb 2026
Subscription and listing
Subscription
116.77x
Listing price
₹144
Registrar
Maashitla Securities Pvt Ltd
Lead manager
Seren Capital
Subscription by category
Total
116.77x
Total applications
1,52,913
Anchor investors
Amount raised
₹18.76 Cr
Bid date
27 Jan 2026
50% lock-in ends
6 Mar 2026
Rest lock-in ends
5 May 2026
Listing day
Issue price
₹123
Open
₹144.00
High
₹151.20
Low
₹136.80
Day close
₹150.30
Listing gain at open
+17.07%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
25,42,000
47.07%
Anchor Investor Shares Offered
15,25,000
28.24%
QIB (Ex. Anchor) Shares Offered
10,17,000
18.83%
NII Shares Offered
7,74,000
14.33%
bNII > ₹10L
5,16,000
9.56%
sNII < ₹10L
2,58,000
4.78%
Retail Shares Offered
17,86,000
33.07%
Market Maker Shares Offered
2,98,000
5.52%
Total Shares Offered
54,00,000
100.00%
Finaccle’s quick read
Apply
FY25 income up 48%, PAT up 99%, ROE 33.98%, post-issue P/E 11.95x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the 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. Its product portfolio includes aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders, and fibre reinforced plastic (FRP) ladders, catering to operational and safety needs across construction, maintenance, installation, repair, and infrastructure development activities.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
33.98%
ROCE
21.21%
Debt / equity
—
PAT margin
21.42%
P/E post issue
11.95
Market cap
₹250.92 Cr
Use of IPO money
Funding of Capital expenditure towards setup of a new Manufacturing Facility.
₹32.26 Cr
Funding of Capital expenditure for manufacturing of equipments for Rental purpose.
₹6.00 Cr
Utilization towards working capital requirements.
₹8.00 Cr
General Corporate Purposes
₹1.76 Cr
Issue Expenses
₹7.48 Cr
Strengths
✓
Revenue up 48% in FY25 to ₹71.62 Cr
✓
PAT up 99% in FY25 to ₹13.01 Cr
✓
PAT margin of 21.42%
✓
ROE of 33.98% and ROCE of 21.21%
Risks to watch
!
SME platform: large lot size and thinner trading liquidity
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.