
Industrials & Construction Equipment · BSE
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, with a product portfolio that includes aluminium scaffoldings, mild steel scaffoldings, aluminium ladders, and fibre reinforced plastic ladders catering to construction, maintenance, installation, repair, and infrastructure development activities. The company operates three manufacturing facilities in Greater Noida, Uttar Pradesh, and is supported by a network of 17 warehouses across states such as Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal, enabling efficient storage, dispatch, and collection for both sales and rental operations. During FY 2025, Msafe supplied products across 22 states and 3 union territories, serving clients in sectors including construction, HVAC, MEP, electrical works, fire safety, interiors, and warehousing, and as of June 30, 2025, the company employed 299 permanent staff and 28 contractual employees to support its nationwide operations.
Price Band
₹116 – ₹123
Issue Size
₹66.42 Cr
Lot Size
1000 shares
GMP
+14.6%
Est. Listing
₹141
at current GMP
Subscribed
166.81x
overall
Open
28 Jan 2026
Close
30 Jan 2026
Allotment
2 Feb 2026
Refund
3 Feb 2026
Demat Credit
4 Feb 2026
Listing
4 Feb 2026
Overall Subscription
166.81x
Total Demand
QIB Multiplier
117.97x
Institutions & Funds
NII / HNI
308.61x
High Net-Worth
Retail (RII)
133.16x
Individual Bidders
Live bidding breakdown by institutional, non-institutional, and retail investors
| Category | Shares Offered | Shares Applied / Bid | Times Subscribed |
|---|---|---|---|
| QIB | 1,017,000 | 119,979,000 | 117.97x |
| NIB | 774,000 | 238,868,000 | 308.61x |
| HNIs(10L +) | 516,000 | 196,819,000 | 381.43x |
| HNIs (2-10L) | 258,000 | 42,049,000 | 162.98x |
| RETAIL | 1,786,000 | 237,820,000 | 133.16x |
| Total | 4,351,000 | 835,535,000 | 166.81x |
Total unique applications received across retail and HNI tranches
| Category | Applications Reserved | Applications Received | Times Subscribed |
|---|---|---|---|
| QIB | — | 103 | 0.00x |
| NIB | — | 33,712 | 0.00x |
| RETAIL | 893 | 118,910 | 133.16x |
| HNIs(10L +) | 172 | 21,095 | 122.65x |
| HNIs (2-10L) | 86 | 12,617 | 146.71x |
| Total Applications | 1,151 | 186,437 | 161.98x |
Track continuous institutional and retail bidding order books for all active issues on the ipo live subscription feed.
Msafe Equipments Limited is bringing an initial public offering (IPO) in the Industrials & Construction Equipment sector with an aggregate issue size of ₹66.42 Crores. The shares are offered at a price band of ₹116 to ₹123 per equity share on BSE. Currently, market analysts recommend evaluating the company's financial valuation, price-to-earnings (P/E) multiple, and peer comparison prior to submitting bids.
The public offer consists of a fresh issue and offer-for-sale structured under SEBI regulations. Bidding is open to Qualified Institutional Buyers (QIB), Non-Institutional Bidders (NII/HNI), and Retail Individual Investors (RII). Applications can be submitted online using ASBA or UPI mandate through certified stock brokers and net banking portals.
Following the close of bidding on 2026-01-30, the basis of allotment is scheduled to be finalized on 2026-02-02. Investors can verify their application status online by submitting their PAN card number, Application Number, or DP Client ID on the registrar's official portal (Maashitla Securities Private Limited) or the BSE allotment checking window.
The latest Grey Market Premium (GMP) for Msafe Equipments Limited IPO is ₹18 per equity share. Based on the upper price band of ₹116 to ₹123 per equity share, the estimated listing price is ₹141 (+14.6% expected listing gain).
With a lot size of 1000 shares and current GMP of ₹18, the expected profit per application lot is approx ₹18,000 (+14.6% gain). Minimum application cost is approx ₹1,23,000.
The Msafe Equipments Limited IPO aggregate issue size is ₹66.42 Crores with an equity price band set at ₹116 to ₹123 per equity share. The retail lot size is 1000 shares requiring a minimum capital outlay of approx. ₹1,23,000.
Live subscription figures are compiled real-time from the NSE and BSE bidding engines. Currently, overall subscription is 166.81x (Retail: 133.16x, QIB: 117.97x, NII: 308.61x). You can track live multiples directly on our dedicated subscription page.
The basis of allotment will be published on the official registrar portal (Maashitla Securities Private Limited) and the BSE status verification website on or around 2026-02-02. Investors can verify status using PAN card or application number.
Msafe Equipments Limited shares are scheduled to list on BSE on 2026-02-04.