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116.19x
subscribed
Msafe Equipments IPO
Electric Equipment
closed
116.19x
subscribed
₹2.32LMin. investment
Msafe Equipments Limited IPO Details
Issue size
₹66Cr
IPO type
SME
Market Cap
₹250.92CrLower than sector avg
Price range
₹116 – ₹123
Listing ExchangeBSE
RevenueApr 2024 - Mar 2025
₹71.34CrLower than sector avg
Lot size
1000 shares
Draft Red Herring Prospectus
Read
Growth rate3Y CAGR
54.98%
SectorElectric Equipment
Price range₹116 – ₹123
IPO type
SME
Lot size1000 shares
Issue size₹66Cr
Draft Red Herring Prospectus
Read
Market Cap
₹250.92CrLower than sector avg
RevenueApr 2024 - Mar 2025
₹71.34CrLower than sector avg
Growth rate3Y CAGR
54.98%
Checklist
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Companies in this sectorObjectives
Funds for new manufacturing unit
59.74%
Working capital
14.81%
General corporate purposes
14.34%
Capex for manufacturing of equipment
11.11%
About Msafe Equipments Limited
Incorporated in 2019, Msafe Equipments is a manufacturer, distributor and lessor of access and height safety equipment, which is primarily used to facilitate safe working at heights. Construction, maintenance, installation, repair and infrastructure projects are the main areas where the company's aluminium and MS scaffoldings, aluminium ladders and FRP ladders are used.
The company runs three factories in Greater Noida, UP. Unit I has a ladder capacity of 720,000 kg per annum and is at 79.85% utilisation in H1 FY26. Unit II has an aluminium scaffolding capacity of 792,000 kg per annum with 85.15% capacity utilisation. Unit III started in May 2025, has an MS scaffolding capacity of 32,85,000 kg per annum and is at 80.62% utilisation. The company is going to build a new manufacturing plant in Mathura, UP, the cost of which has been estimated at 3,702.22 lakhs. After the completion of the project, the total installed capacity for MS scaffolding will be 62,85,000 kg per annum, and for aluminium scaffolding and ladders, 25,12,000 kg per annum.
The company adopts a composite revenue model of product sales and rentals. Rentals continue to be a major share of the revenue, 43.07% in H1FY26 and 51.65% in FY25. In FY25, it reached more than 2,500 customers through both channels. The company in FY25 sold its products in 22 states and 3 UTs, with Maharashtra accounting for 30.92% of revenue, Karnataka at 12.71%, and Tamil Nadu at 8.03% being the major markets. Besides that, it exports to the UAE, Nigeria, and the Maldives, which account for 2.23% of the revenue in FY25.
Msafe Equipments IPO Subscription Status
Latest News on Msafe Equipments IPO

Msafe Equipments IPO: The ₹66.42 crore initial share sale comprised a fresh issuance of 44 lakh shares aggregating to ₹54.12 crore and an offer-for-sale of 10 lakh shares valued at ₹12.30 crore by promoters Vansh Aggarwal and Ajay Kumar Kanoi.
3 min read

Msafe Equipments IPO allotment: The initial share sale, with a price band of ₹116 to ₹123 per share, aimed to raise ₹66.42 crore via fresh issuance of 44 lakh shares worth ₹54.12 crore and an offer for sale of ₹12.30 crore by promoters Ajay Kumar Kanoi and Vansh Aggarwal.
3 min read
Frequently asked questions
How to invest in the Msafe Equipments IPO ?
Investors can apply for the Msafe Equipments IPO through their Demat account via the stock exchange or through their broker.
What is the issue size of Msafe Equipments IPO ?
The issue size of the Msafe Equipments IPO is 66 Cr.
What is 'pre-apply' for Msafe Equipments IPO ?
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
Which exchanges will Msafe Equipments IPO shares list on?
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Application closed