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MSAFE · BSE · Scaffolding and Ladders
Msafe Equipments IPO listed on 04 Feb 2026 on BSE at ₹144.00, a gain of 17.07% over the issue price of ₹123.00. The IPO was subscribed 166.72x overall.
Msafe Equipments IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 28 Jan 2026 |
| IPO Close Date | 30 Jan 2026 |
| Basis of Allotment | 02 Feb 2026 |
| Initiation of Refunds | 03 Feb 2026 |
| Credit of Shares to Demat | 03 Feb 2026 |
| Listing Date | 04 Feb 2026 |
Listing day gain
+17.07%
Listed at ₹144 (issue ₹123)
Issue
₹123
Listing
₹144
Current
₹150.3
+22.2% vs issue
Day range
₹136.8 – ₹151.2
Issue Size
5,400,000 shares
(aggregating up to ₹66.00 Cr)
Issue Price
₹116 – ₹123
Face Value
₹10/share
Market Lot
1,000 shares
Retail Min Investment
₹246,000
Listing At
BSE
Sale Type
both
Fresh Issue
4,102,000 shares
(aggregating up to ₹50 Cr)
Offer for Sale
1,000,000 shares
(aggregating up to ₹12 Cr)
Reserved for Market Maker
298,000 shares
(aggregating up to ₹3.67 Cr)
Issue Type
book building
Open Date
28 Jan
Close Date
30 Jan
Allotment
02 Feb
Listing
04 Feb
Last updated: 8 months ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 04 Feb 2026 Latest | ₹123 | ₹21 | ₹144 | ₹21 |
17.07%
|
12:08 PM |
| 03 Feb 2026 | ₹123 | ₹21 | ₹144 | ₹21 |
17.07%
|
2:46 PM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 30 Jan 2026
| Category | Subscribed (x) | No. of Applications |
|---|---|---|
| QIB | 117.97x | - |
| NII | 308.23x | - |
| bNII (bids above ₹10L) | 380.85x | - |
| sNII (bids below ₹10L) | 162.98x | - |
| Retail Investors | 133.16x | - |
| Total | 166.72x | - |
Showing the latest subscription snapshot.
View full subscription historyPradeep Aggarwal, Ajay Kumar Kanoi, Vansh Aggarwal, Rushil Agarwal, Gaurav Ajay Kumar Kanoi, Rajani Ajay Kanoi and Monika Aggarwal are the company promoters.
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹246,000 |
| Retail (Max) | 2 | 2,000 | ₹246,000 |
| S-HNI (Min) | 3 | 3,000 | ₹369,000 |
| S-HNI (Max) | 8 | 8,000 | ₹984,000 |
| B-HNI (Min) | 9 | 9,000 | ₹1,107,000 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 298,000 (5.52%) |
| NII (HNI) Shares Offered | 774,000 (14.34%) |
|
•
bNII > ₹10L
|
516,000 (9.56%) |
|
•
sNII < ₹10L
|
258,000 (4.78%) |
| QIB Shares Offered | 2,542,000 (47.07%) |
|
•
Anchor Investor Shares Offered
|
1,525,000 (28.24%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
1,017,000 (18.83%) |
| Retail Shares Offered | 1,786,000 (33.07%) |
| Total Shares Offered | 5,400,000 (100.00%) |
Msafe Equipments Limited is primarily engaged in the business of manufacturing, selling, and renting access and height-safety equipment. Its product portfolio includes aluminium and mild steel (MS) scaffolding, as well as aluminium and fibre-reinforced plastic (FRP) ladders. These products are used across various sectors including construction, infrastructure, maintenance, and facility management to facilitate safe working at heights.
Key Strengths:
Company Growth:
Standalone · ₹ in Crores
| Particulars | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Total Revenue | 33.54 | 48.34 | 71.62 |
| Profit After Tax (PAT) | 3.65 | 6.55 | 13.01 |
| EBITDA | 9.19 | 15.12 | 26.08 |
| Total Assets | 29.71 | 48.19 | 73.59 |
| Net Worth | 6.09 | 12.64 | 25.65 |
| Reserves & Surplus | 5.09 | 11.64 | 24.65 |
| Total Borrowing | 20.37 | 25.87 | 32.56 |
Revenue & Profit Trend
The basis of allotment for Msafe Equipments IPO was finalised on 02 Feb 2026. You can check your allotment status using your PAN number or application number on the Maashitla Securities Pvt. ltd. portal or BSE.
The Msafe Equipments IPO is expected to open in Jan 2026, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Msafe Equipments IPO is ₹116.00 - ₹123.00 per share.
As per market sources, Msafe Equipments IPO GMP is currently ₹21.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Msafe Equipments IPO stands at 166.72x overall.
The listing date for Msafe Equipments IPO is 04 Feb 2026.
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