Msafe Equipments IPO is a book-built issue IPO aiming to raise ₹66.42 crore. It comprises a fresh issue of 0.44 crore equity shares aggregating to ₹54.12 crore and an offer for sale of 0.10 crore equity shares amounting to ₹12.30 crore. The bidding window was open from January 28, 2026, to January 30, 2026, with the IPO allotment expected to be finalised on February 2, 2026. Msafe Equipments is scheduled to list on BSE SME on February 4, 2026.
The IPO was priced at ₹116–₹123 per share with a lot size of 1,000 shares. The public issue received bids for 59,63,69,000 shares against 35,77,000 shares available, resulting in an overall subscription of 166.72 times. Non-institutional investors led the response, subscribing 308.23 times their quota, followed by retail investors at 133.16 times.
Msafe Equipments’ ₹66.42 crore IPO, priced at ₹116–₹123 per share, was subscribed 166.72 times overall. The IPO consists of a fresh issue of 0.44 crore equity shares aggregating to ₹54.12 crore and an offer for sale of 0.10 crore equity shares amounting to ₹12.30 crore.
Bidding took place from January 28 to January 30, 2026, with the Msafe Equipments IPO allotment expected on February 2, 2026. Retail investors subscribed 133.16 times and NIIs 308.23 times and the listing is scheduled for February 4, 2026.
The table below breaks down the Msafe Equipments share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 2,98,000 (5.52%) |
| QIB Shares Offered | 25,42,000 (47.07%) |
| − Anchor Investor Shares Offered | 15,25,000 (28.24%) |
| − QIB (Ex. Anchor) Shares Offered | 10,17,000 (18.83%) |
| NII (HNI) Shares Offered | 7,74,000 (14.33%) |
| − bNII > ₹10L | 5,16,000 (9.56%) |
| − sNII < ₹10L | 2,58,000 (4.78%) |
| Retail Shares Offered | 17,86,000 (33.07%) |
| Total Shares Offered | 54,00,000 (100.00%) |
Data Source: BSE
| Category | Subscription (times) |
| Qualified Institutional Buyers (QIB) | 117.97 |
| Non-Institutional Investors (NII) | 308.23 |
| Retail Individual Investors (RII) | 133.16 |
| Total | 166.72 |
Note: The subscription details are as of January 30, 2026
Msafe Equipments Limited was incorporated in 2019 and is engaged in the manufacturing, sale, and rental of access and height-safety equipment used for safe working at heights. The company caters to safety and operational requirements across construction, maintenance, installation, repair, and infrastructure development activities.
The company’s product portfolio includes aluminium scaffoldings, mild steel scaffoldings, aluminium ladders, and fibre reinforced plastic ladders. These products are used across sectors such as construction, HVAC, MEP, electrical works, fire safety, interiors, and warehousing, supporting a diversified client base.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Feb 2, 2026, 6:12 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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