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| IPO Listing At | BSE SME |
| SME IPO Issue Type | Book Build Issue |
| Total Issue Size | ₹66.42 Cr |
| Reserved for Market Maker | ₹3.67 Cr |
| Net Issue Size | ₹66.42 Cr |
| Fresh Issue | ₹50.45 Cr |
| Offer for Sale | ₹12.30 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹116.00-123.00 per share |
| BSE Code | 544695 |
| Registrar | Maashitla Securities Pvt.Ltd. |
| Lead Managers | Seren Capital Pvt.Ltd. |
| Allotment Status |
| DRHP |
| RHP |
| Final Prospectus |
| Anchor List |
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 ₹0 A/C Opening₹0 AMC Trading Account ₹20F&O Trade ₹20Delivery FreeIPO Apply Open Free Account → |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 2,000 shares · Multiples of 1,000 shares
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.
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 June 30, 2025, the Company employed 299 permanent staff and 28 contractual employees, ensuring operational efficiency and nationwide reach.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of Capital expenditure towards setup of a new Manufacturing Facility. | 32.26 |
| 2 | Funding of Capital expenditure for manufacturing of equipments for Rental purpose. | 6.00 |
| 3 | Utilization towards working capital requirements. | 8.00 |
| 4 | General Corporate Purposes | 1.76 |
| 5 | Issue Expenses | 7.48 |
| Total | 55.50 |
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 87.67 | 73.59 | 48.19 | 33.54 |
| Total Income | 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 Borrowing | 37.67 | 32.56 | 25.87 | 20.37 |
| Amount in ₹ Crore | ||||
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 33.98% | 67.97% |
| ROCE | 21.21% | 34.56% |
| RoNW | 29.05% | 50.73% |
| PAT Margin | 21.42% | 18.24% |
| EBITDA Margin | 39.20% | 36.55% |
| Price to Book Value | 5.44 | 7.67 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 8.13 | 10.29 |
| P/E (x) | 15.12 | 11.95 |
| Promoter Holding | 100% | 73.53% |
| Market Cap | ₹250.92 Cr. | |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees (including underwriting commission and all other fees by whatever name called) | 6.68 |
| 2 | Fees Payable to Registrar to the Issue | 0.04 |
| 3 | Fees Payable for Advertising, printing and Publishing Expenses | 0.21 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.24 |
| 5 | Fees Payable to Statutory Auditor, Legal Advisors and other Professionals | 0.19 |
| 6 | Others (Commission/processing fee for SCSBs, Sponsor Bank and Banker(s) to the Issue and brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs) | 0.12 |
Last Updated on 16-Jun-2026 18:10:14
