Msafe Equipments IPO opens on Jan 28: Check GMP, key dates, price band

Msafe Equipments IPO: The initial public offering (IPO) of Msafe Equipments, a manufacturer of height-safety equipment, will open for public subscription on Wednesday, January 28, 2026. Through its maiden share sale, the company aims to raise ₹66.42 crore, comprising a fresh issue of 4.4 million equity shares and an offer for sale (OFS) of 1 million shares.

 

Msafe Equipments IPO is being offered at a price band of ₹116 to ₹123 per share, with a lot size of 1,000 shares. At the upper price band, a retail investor will require ₹2,46,000 to bid for two lots consisting of 2,000 shares. 

 

Incorporated in 2019, Msafe Equipments is engaged in the manufacturing, sales, and rental of access and height-safety equipment used for safe working at heights. The company's 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. The company operates three manufacturing units in Greater Noida, Uttar Pradesh.  ALSO READ | KRM Ayurveda IPO allotment today; check status, latest GMP, listing date

Here are the key details of the Msafe Equipments IPO:

Msafe Equipments IPO GMP

According to sources tracking unofficial markets, the unlisted shares of Msafe Equipments were trading at ₹134, up ₹11 or 9 per cent from the upper end of the price band.

Msafe Equipments key dates

The public issue will remain open for subscription until Friday, January 30, 2026. The basis of allotment for the company’s shares is expected to be finalised on Monday, February 2, while the shares will be credited to investors’ demat accounts on Tuesday, February 3. Msafe Equipments shares are tentatively scheduled to be listed on the BSE SME platform on Wednesday, February 4, 2026.

Msafe Equipments IPO registrar, lead manager

Maashitla Securities is acting as the registrar for the public offering, while Seren Capital is serving as the sole book-running lead manager.

Msafe Equipments IPO objective

According to the red herring prospectus (RHP), the company plans to use ₹32.26 crore from the net fresh issue proceeds to set up a new manufacturing facility, ₹6 crore for the manufacturing of equipments for rental purpose, and ₹8 crore for working capital requirements. The remaining funds will be used for general corporate purposes. 

Msafe Equipments IPO financial overview

In the financial year 2025 (FY25), the company had reported a revenue from operations of ₹71.34 crore, up 48.22 per cent from ₹48.13 crore in the year-ago period. The company's earnings before interest, tax, depreciation and amortisation (Ebitda) came in at ₹26.07 crore in FY25, up 72.52 per cent from ₹15.11 crore in the previous year. Its profit after tax (PAT) stood at ₹13.01 crore against ₹6.55 crore in FY24.