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MSAFE
Msafe Equipments IPO, a SME IPO was listed on the exchange on February 4, 2026. The price band is set between ₹116 –123 , with a face value of ₹10 . Retail investors can apply with a minimum of 2 lots, each comprising 1,000 shares — amounting to ₹246,000 at the upper price.
Msafe Equipments IPO has been successfully listed on the exchange. Track the listing performance, current stock price, and post-listing trends. This information is for education only—not investment advice.
Msafe Equipments IPO SME Important Dates
Get important updates regarding Msafe Equipments IPO SME tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates. Dates are updated as soon as they are announced.
Issue price ₹123
Issue
₹123
Open Date
Jan 28
Close Date
Jan 30
Allotment
Feb 02
Listing
Feb 04
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
Last updated: 1 month 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 |
| 02 Feb 2026 | ₹123 | ₹20 | ₹143 | ₹20 |
16.26%
|
2:17 PM |
| 01 Feb 2026 | ₹123 | ₹26 | ₹149 | ₹26 |
21.14%
|
9:26 PM |
| 31 Jan 2026 | ₹123 | ₹26 | ₹149 | ₹26 |
21.14%
|
2:59 PM |
| 30 Jan 2026 | ₹123 | ₹26 | ₹149 | ₹26 |
21.14%
|
3:05 PM |
| 29 Jan 2026 | ₹123 | ₹25 | ₹148 | ₹25 |
20.33%
|
5:16 PM |
| 28 Jan 2026 | ₹123 | ₹23 | ₹146 | ₹23 |
18.7%
|
4:38 PM |
| 27 Jan 2026 | ₹123 | ₹20 | ₹143 | ₹20 |
16.26%
|
4:56 PM |
| 26 Jan 2026 | ₹123 | ₹11 | ₹134 | ₹11 |
8.94%
|
4:17 PM |
| 25 Jan 2026 | ₹123 | ₹11 | ₹134 | ₹11 |
8.94%
|
11:52 PM |
| 24 Jan 2026 | ₹123 | ₹11 | ₹134 | ₹11 |
8.94%
|
6:31 PM |
| 23 Jan 2026 | ₹123 | ₹11 | ₹134 | ₹11 |
8.94%
|
2:14 PM |
| 22 Jan 2026 | ₹123 | ₹7 | ₹130 | ₹7 |
5.69%
|
6:57 PM |
Latest snapshot: Jan 30, 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 | — |
Pradeep Aggarwal, Ajay Kumar Kanoi, Vansh Aggarwal, Rushil Agarwal, Gaurav Ajay Kumar Kanoi, Rajani Ajay Kanoi and Monika Aggarwal are the company promoters.
IPO investment limits, also referred to as application limits or bidding limits, define the minimum and maximum number of shares, lots, and investment amount that investors can apply for in an IPO based on their category (Retail, HNI, or Institutional). These limits are calculated as per SEBI guidelines and help ensure fair distribution of shares. Retail investors typically have lower minimum and maximum limits compared to High Net Worth Individuals (HNI) and Non-Institutional Investors (NII). Understanding IPO application limits is essential for investors to determine how much they can invest, calculate the number of lots they can apply for, and plan their investment strategy accordingly. The investment limits table shows the lot size, number of shares, and total amount in rupees for each investor category.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹246,000 |
| Retail (Max) | 1 | 1,000 | ₹123,000 |
| 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 |
The IPO reservation structure, also known as share allocation breakdown, details how the total issue size is distributed among different investor categories as mandated by SEBI (Securities and Exchange Board of India) regulations. This reservation table shows the exact percentage and number of shares allocated to Qualified Institutional Buyers (QIB), Retail Individual Investors (RII), High Net Worth Individuals (HNI), Non-Institutional Investors (NII), and other reserved categories like employees and shareholders. Understanding IPO reservation percentages is crucial for investors to evaluate their probability of share allotment, as each category has different subscription levels and competition. The maximum allottees column indicates the cap on the number of investors who can receive shares in each category, helping you assess the likelihood of getting an allotment based on your investor category.
| 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 Latest |
|---|---|---|---|
| Total Revenue | 33.54 | 48.34 |
71.62
↑ 48.2%
|
| Profit After Tax (PAT) | 3.65 | 6.55 |
13.01
↑ 98.6%
|
| EBITDA | 9.19 | 15.12 |
26.08
↑ 72.5%
|
| Total Assets | 29.71 | 48.19 |
73.59
↑ 52.7%
|
| Net Worth | 6.09 | 12.64 |
25.65
↑ 102.9%
|
| Reserves & Surplus | 5.09 | 11.64 |
24.65
↑ 111.8%
|
| Total Borrowing | 20.37 | 25.87 |
32.56
↑ 25.9%
|
Revenue & Profit Trend
The Msafe Equipments IPO is expected to open in January, 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 February 4, 2026.
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