Last day! Msafe Equipments IPO ends today; subscription rises 81x, GMP 21%

Msafe Equipments IPO received bids for around 284.92 million shares against an offer size of 3.87 million shares

Msafe Equipments IPO: The three-day window to bid for the initial public offering (IPO) of height-safety equipment manufacturer Msafe Equipments is scheduled to close today, Friday, January 30, 2026. 

 

The company's maiden public issue, which opened for subscription on Wednesday, January 28, 2026, has received a solid investor response so far. The issue has been subscribed over 73.5 times, supported by participation from all the investor categories.

 

As per BSE data available at 01:30 PM, the IPO received bids for around 284.92 million shares against an offer size of 3.87 million shares. The Non-Institutional Investors (NIIs) portion was subscribed over 115 times, while the retail investors segment was booked 66.7 times. The  Qualified Institutional Buyers (QIBs) portion was subscribed 41.85 times.

 

Msafe Equipments IPO GMP

The unlisted shares of Msafe Equipments were trading at ₹149 in the grey market, commanding a premium of ₹26 or 21 per cent against the upper end price of ₹123, according to sources tracking unofficial market activity.

Msafe Equipments IPO details

The Noida-based company aims to raise ₹66.42 crore through its IPO, comprising a fresh issue of 4.4 million equity shares and an offer-for-sale of 1 million shares.

 

The issue is priced in the range of ₹116–₹123 per share with a lot size of 1,000 shares. At the upper end of the price band, retail investors would need to invest ₹2.46 lakh to apply for two lots, or 2,000 shares.

 

Shares of Msafe Equipment are expected to be listed on the BSE SME platform on Wednesday, February 4, 2026. Maashitla Securities is the registrar for the issue, while Seren Capital is the sole book-running lead manager.

 

With the subscription window closing today, the basis of allotment is likely to be finalised on Monday, February 2.

 

As per 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 equipment for rental purposes, and ₹8 crore for working capital requirements. The remaining funds will be used for general corporate purposes.