Msafe Equipments IPO GMP & Subscription Status: Day 1 IPO Live Updates

Posted by : sachet | Wed Jan 28 2026

The Msafe Equipments IPO GMP is ₹0 as of 28th January 2026. It is a book-building issue IPO of ₹66.42 crores. This is an entirely fresh issue of 0.44 crore shares. The issue will be listed on BSE and SME on its tentative listing date, 4th February 2026. The face value of Msafe Equipments IPO shares is ₹10 per share, and the IPO price band is ₹116 to ₹123 per share. Retail investors can bid for a minimum of 2 lots of 2,000 shares worth ₹2,46,000. Scroll down to check the Msafe Equipments IPO GMP and subscription details.

Table of Contents

Msafe Equipments IPO GMP Grey Market Premium

As mentioned earlier, the Msafe Equipments IPO GMP currently stands at ₹0.00 per share. Thus, the estimated listing price would be at ₹70.00. This indicates that the estimated listing gain in this IPO could be 0.00%. Explore the table for Msafe Equipments IPO GMP updates.

GMP DATE	IPO Price	GMP Price	Estimated Listing Price	Estimated Gain
28-01-2026	₹123.00	₹21.00	₹144.00	17.07%
27-01-2026	₹123.00	₹20.00	₹143.00	16.26%
26-01-2026	₹123.00	₹11.00	₹134.00	8.94%
25-01-2026	₹123.00	₹11.00	₹134.00	8.94%
24-01-2026	₹123.00	₹11.00	₹134.00	8.94%
23-01-2026	₹123.00	₹11.00	₹134.00	8.94%
22-01-2026	₹123.00	₹7.00	₹130.00	5.69%
21-01-2026	₹123.00	₹7.00	₹130.00	5.69%

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Msafe Equipments IPO GMP status at Univest.

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Msafe Equipments IPO Subscription Status

As of now, the Msafe Equipments IPO has been subscribed to 0.57 times. Of these, 0.73 times are subscribed by retail investors, 0.58 times by non-institutional investors, and 0.29 times by QII (Qualified Institutional Investors).

The healthy subscription status indicates that investors are expecting higher returns at the time of Msafe Equipments’s IPO listing on 4th February 2026. Msafe Equipments also has a positive outlook behind the fresh issue of 0.44 crore shares, which will raise around Rs 24.77 crores.

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Msafe Equipments IPO Subscription status at Univest.

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Msafe Equipments IPO Details

IPO Allotment Date	2nd February 2026
IPO Open Date	28th January 2026
IPO Close Date	30th January 2026
Refund Initiation	3rd February 2026
Issue Size	54,00,000 shares(agg. up to ₹66 Cr)
Fresh Issue	41,02,000 shares(agg. up to ₹50 Cr)
Offer for Sale	10,00,000 shares of ₹10(agg. up to ₹12 Cr)
Face Value	₹10 per share
Lot Size	2,000 Shares
Issue Price	₹116 to ₹123 per share
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Listing Date	4th February 2026

Also Read: Msafe Equipments IPO GMP & Review: Apply or Avoid?

Explanation

Msafe Equipments IPO: Msafe Equipments IPO Limited has declared an issue price band of ₹116 to ₹123 per share. With this IPO, the company allows retail investors to bid for at least 2 lots of 2,000 shares, each worth ₹2,46,000. The face value of Msafe Equipments IPO Limited shares is ₹10 per share. The shares of Msafe Equipments IPO Limited will be listed on BSE and SME on its tentative listing day, 4th February 2026. Scroll down to check GMP updates and Msafe Equipments IPO reviews.

About Msafe Equipments Ltd.

Msafe Equipments Limited was established 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. Its 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 facilities in Greater Noida, Uttar Pradesh, supported by a network of 17 warehouses across multiple states, including Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal. These facilities enable efficient storage, dispatch, and collection of products for both sales and rentals. During Fiscal 2025, Msafe supplied products across 22 States and 3 Union Territories, serving diverse client requirements in sectors such as construction, HVAC, MEP, electrical works, fire safety, interiors, and warehousing.

As of December 31, 2025, the Company employed 350 permanent staff and 66 contractual employees, ensuring operational efficiency and nationwide reach.

Also Read- Msafe Equipments IPO GMP & Review: Apply or Avoid?

Msafe Equipments Limited Financials

The company’s financial analysis is essential before applying for the Msafe Equipments IPO. Look at the table to learn about Msafe Equipments Limited’s financials.

Year Ended	30th Sep 2025 (in cr.)	31st March 2025 (in cr.)	31st March 2024 (in cr.)	31st March 2023 (in cr.)
Assets	87.67	73.59	48.19	33.59
Revenue	49.07	71.62	48.34	29.71
Profit After Tax	10.50	13.01	6.55	3.65
EBITDA	19.21	26.08	15.12	9.19
Net Worth	36.15	25.65	12.64	6.09
Reserves and Surplus	20.15	24.65	11.64	5.09
Total Borrowings	37.67	32.56	25.87	20.37

Explanation

Msafe Equipments Limited’s revenue increased by 48.15% from ₹48.34 crores in March 2024 to ₹71.62 crores in March 2025. Moreover, the company’s PAT increased by 98.62% from ₹6.55 crores in March 2024 to ₹13.01 crores in March 2025.

Msafe Equipments IPO Objectives

The primary aim of the Msafe Equipments IPO is to raise ₹24.77 crores. On the other hand, Msafe Equipments has decided to utilise these funds in different ways.

For funding of Capital expenditure towards the setup of a new Manufacturing Facility.
For funding capital expenditure for the manufacturing of equipment for rental purposes.
To General Corporate Expenses.
To utilise working capital requirements.

Msafe Equipments IPO Registrar

Maashitla Securities Private Limited is the registrar for the Msafe Equipments IPO, awaiting the allotment process and initiating refunds. For any queries regarding the Msafe Equipments allotment and refund, you can contact Maashitla Securities Private Limited at investor.po@maashitla.com or at +91-11-45121795-96.

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Msafe Equipments IPO Review

The Msafe Equipments IPO has gained neutral ratings from industry experts, brokers, and institutional investors. Msafe Equipments Limited’s revenue increased by 48.15% from ₹48.34 crores in March 2024 to ₹71.62 crores in March 2025. Moreover, the company’s PAT increased by 98.62% from ₹6.55 crores in March 2024 to ₹13.01 crores in March 2025.

Most analysts recommend applying for this IPO to diversify your investment portfolio. However, we’re waiting for additional ratings to get a clearer picture and will keep posting them to deliver real-time insights. Until then, you can explore the company’s technical analysis to know whether you should apply for the Msafe Equipments IPO or not.

Key Indicators	Value
PE Ratio (Price-to-Earnings)	15.12
EPS (Earnings Per Share)	8.13
RoNW	29.05%
ROCE	21.21%
ROE	33.98%
EBITDA Margin	39.20%
Price to Book Value	5.44
Market Capitalisation	₹250.92 Cr

The P/E ratio of Msafe Equipments Limited shares is 15.12, and its Earnings Per Share (EPS) stands at 8.13. Thus, the Msafe Equipments IPO can deliver gains on its tentative listing date, 4th February 2026.

Note: The data, as mentioned above, is taken from authentic sources and highlights pre-issue information. The PE ratio and EPS of Msafe Equipments Limited are subject to change after the IPO. Explore the table below to get post-issue updates on these two metrics.

Indicators	Pre-IPO	Post-IPO
PE Ratio	15.12	11.95
EPS	8.13	10.29

FAQs on Msafe Equipments IPO

What is the Msafe Equipments IPO GMP?

Currently, on 28th January 2026, the Msafe Equipments IPO GMP (Grey Market Premium) stands at ₹21. This indicates that the estimated listing price could be ₹144.00 per share.

What is the issue price of the Msafe Equipments IPO?

The Msafe Equipments IPO issue price band is set at ₹116.00 to ₹123.00 per share. Retail investors can apply for a minimum of 2 lots, each consisting of 2,000 shares, worth ₹2,46,000. Moreover, HNIs are required to bid for a minimum of 3 lots (3,000 shares) worth ₹3,69,000.

Who is the registrar of the Msafe Equipments IPO?

Disclaimer: The above information is compiled from authentic sources and is just for informational purposes. To have detailed information about the Msafe Equipments IPO, download the Msafe Equipments IPO RHP and Msafe Equipments IPO DRHP. Conduct your research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.