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Subscription Status · Jan 28 – Jan 30, 2026 · ₹116–123
Msafe Equipments IPO subscribed 166.72 times — as of Jan 30, 2026
The Msafe Equipments IPO subscription has recorded exceptional investor demand with an overall subscription of 166.72× as of Jan 30, 2026, indicating that investors applied for 166.72 times the number of shares on offer. All investor categories — institutional, HNI, and retail — have participated actively, making this one of the closely watched IPO openings.
As of January 30, 2026
| Category | Shares Offered | Shares Bid For | Times Subscribed | Applications |
|---|---|---|---|---|
|
QIB
Qualified Institutional Buyers
|
1,017,000 | 119,979,000 |
117.97×
|
— |
|
NII
Non-Institutional Investors
|
774,000 | 238,570,000 |
308.23×
|
— |
|
bNII
Bids above ₹10L
|
516,000 | 196,521,000 |
380.85×
|
— |
|
sNII
Bids below ₹10L
|
258,000 | 42,049,000 |
162.98×
|
— |
|
Retail
Retail Individual Investors
|
1,786,000 | 237,820,000 |
133.16×
|
— |
|
Total
|
3,577,000 | 596,369,000 |
166.72×
|
— |
How subscription built up across investor categories over time
Snapshot of each day's bidding activity
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 1,017,000 | 119,979,000 | 117.97× | — |
| NII | 774,000 | 238,570,000 | 308.23× | — |
| bNII | 516,000 | 196,521,000 | 380.85× | — |
| sNII | 258,000 | 42,049,000 | 162.98× | — |
| Retail | 1,786,000 | 237,820,000 | 133.16× | — |
| Total | 3,577,000 | 596,369,000 | 166.72× | — |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 1,017,000 | 823,000 | 0.81× | — |
| NII | 774,000 | 20,628,000 | 26.65× | — |
| bNII | 516,000 | 16,141,000 | 31.28× | — |
| sNII | 258,000 | 4,487,000 | 17.39× | — |
| Retail | 1,786,000 | 27,066,000 | 15.15× | — |
| Total | 3,577,000 | 48,517,000 | 13.56× | — |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 1,017,000 | 814,000 | 0.80× | — |
| NII | 774,000 | 2,680,000 | 3.46× | — |
| bNII | 516,000 | 1,919,000 | 3.72× | — |
| sNII | 258,000 | 761,000 | 2.95× | — |
| Retail | 1,786,000 | 4,972,000 | 2.78× | — |
| Total | 3,577,000 | 8,466,000 | 2.37× | — |
As of January 30, 2026, the Msafe Equipments IPO has been subscribed 166.72 times overall. The IPO is fully subscribed with strong investor demand indicating extremely high interest.
The Msafe Equipments IPO subscription window was open from January 28, 2026 to January 30, 2026. Investors could apply through their demat account or ASBA facility.
The Msafe Equipments IPO has a price band of ₹116 to ₹123 per share, with a lot size of 1,000 shares. Minimum retail investment: ₹116,000 (lower band) or ₹123,000 (upper band).
The QIB category has been subscribed 117.97 times. QIBs were offered 1,017,000 shares. Strong QIB subscription indicates high institutional confidence.
Retail investors subscribed 133.16 times. Retail was offered 1,786,000 shares. High retail subscription reflects strong small-investor interest.
Overall NII: 308.23×. bNII (>₹10L): 380.85×, sNII (<₹10L): 162.98×. NII includes HNIs and corporate entities investing above ₹2 lakh.
Basis of allotment is on February 02, 2026. Check via the registrar's website — Maashitla Securities Private Limited (SEBI Reg. No.: INR000004370) using your PAN number, application number, or DP/Client ID. You can also check on BSE/NSE websites or through your broker's app.
Msafe Equipments IPO is expected to list on February 04, 2026. Shares will list on BSE SME platform. Allotted shares are credited to your demat account 1 business day before listing.
A subscription multiple of 166.72× means investors have bid for 166.72 times the total shares available. Since the IPO is oversubscribed, not every applicant will receive shares — allotment happens via lottery (for retail) or proportionately (for other categories). Higher multiples generally reduce allotment probability.
Based on the current retail subscription of 133.16×, the estimated allotment probability for retail investors is Very Low. Only 1 lot likely via lottery if selected. Retail allotment in oversubscribed IPOs is done by computerised lottery — each valid application has an equal probability regardless of the number of lots applied for.
You can apply for Msafe Equipments IPO through: (1) ASBA (Application Supported by Blocked Amount) via your bank's net banking or mobile app, (2) UPI-based application through your broker's app (Zerodha, Groww, Angel One, etc.), or (3) directly via your demat account. The amount is blocked in your account and deducted only upon allotment. Applications were accepted from Jan 28 to Jan 30, 2026.
The grey market premium (GMP) reflects unofficial pre-listing trading sentiment. For the latest Msafe Equipments IPO GMP data, check the IPO Rise GMP page. Note: GMP is unofficial, speculative, and not a guaranteed indicator of listing price — use it only as a sentiment signal alongside official subscription data.
The Msafe Equipments IPO subscription tracks how many times each investor category has subscribed relative to their reserved quota. As of Jan 30, 2026, the overall subscription stands at 166.72× — Massively Oversubscribed.
QIBs include domestic mutual funds, FIIs/FPIs, banks, insurance companies, and SEBI-registered venture capital funds. They are allocated up to 50% of the net offer (75% for SME IPOs). For Msafe Equipments IPO, QIB subscription is at 117.97×. High QIB subscription signals strong institutional conviction and is considered a positive indicator for post-listing performance.
NIIs are high-net-worth individuals (HNIs) and corporate bodies applying for more than ₹2 lakh. SEBI further divides this into bNII (bids above ₹10 lakh) and sNII (bids between ₹2–10 lakh), each with a separate allotment bucket. For Msafe Equipments IPO: bNII at 380.85×, sNII at 162.98×. Very high NII subscription (>50×) often signals leveraged HNI bidding, suggesting a strong listing expectation.
Retail investors apply for up to ₹2 lakh. They are reserved 35% of the net offer (in most mainboard IPOs). If oversubscribed, allotment is via computerised lottery — each applicant (regardless of lot count) has an equal probability. Msafe Equipments IPO retail subscription: 133.16×. With 133.16× retail subscription, allotment is lottery-based.
Price band: ₹116–₹123 per share. Lot size: 1,000 shares. Minimum retail investment at upper band: ₹123,000. Applications must be in multiples of 1,000 shares.
Stock exchanges (BSE/NSE) publish subscription data multiple times a day during the subscription window. The figures shown here represent the latest available snapshot. "Shares Offered" is the quota reserved for each category; "Shares Bid For" is the total demand received; "Times Subscribed" is the ratio of demand to supply.
Subscription Opens Done
Jan 28, 2026Subscription Closes Done
Jan 30, 2026Basis of Allotment Done
Feb 02, 2026Listing on BSE Done
Feb 04, 2026Only 1 lot likely via lottery if selected. Based on retail subscription of 133.16×.
Retail allotment in oversubscribed IPOs is done by computerised lottery — each valid application has equal odds regardless of lot size applied.
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Higher subscription = lower allotment probability. Progress bars compare each category relative to the highest-subscribed category.