Msafe Equipments Subscription
Last updated on 30-Jan-2026 17:18:07
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 1017000 | 119979000 | 117.97 |
| HNIs | 774000 | 238570000 | 308.23 |
| bHNI | 516000 | 196521000 | 380.85 |
| sHNI | 258000 | 42049000 | 162.98 |
| Individual | 1786000 | 237820000 | 133.16 |
| Total | 3577000 | 596369000 | 166.72 |
Application-Wise Breakup  | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 172 | 21095 | 122.65 |
| HNIs (3-10L) | 86 | 12617 | 146.71 |
| Individual | 893 | 118910 | 133.16 |
| QIB Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹19.5 | @8% ₹22.3 | @9% ₹25 | @10% ₹27.8 | @11% ₹30.6 | @12% ₹33.4 |
Msafe Equipments Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| bHNI | 9 | 9000 | 1107000 | 172 |
Msafe Equipments Reservation
| Category | Shares Offered | % |
|---|---|---|
| Anchor | 1525000 | 28.24% |
| QIB | 1017000 | 18.83% |
| HNI | 774000 | 14.33% |
| INDIVIDUAL | 1786000 | 33.07% |
| Market Maker | 298000 | 5.52% |
| Total | 5400000 | 100% |
Msafe Equipments About
IPO Details
| Total Issue Size | 54,00,000 shares (aggregating up to ₹66.42 Cr) |
| Fresh Issue | 44,00,000 shares (aggregating up to ₹54.12 Cr) |
| Offer For Sale | 10,00,000 shares (aggregating up to ₹12.30 Cr) |
| Face Value | ₹10/- Per Share |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,60,00,000 Equity Shares |
| Share Holding Post Issue | 2,04,00,000 Equity Shares |
| Reserved for Market Maker | 2,98,000 shares (aggregating up to ₹3.66 Cr) |
| Market Maker | Evermore Share Broking |
Key Performance Indicators (KPI)
| KPI | Sep-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| ROE | 33.98% | 67.97% | 69.99% |
| ROCE | 21.21% | 34.56% | 28.04% |
| EPS (BASIC) | 6.56 | 8.13 | 4.09 |
| P/E Pre IPO | 15.12 | ||
| P/E Post IPO | 11.95 |
Company Financial (In ₹Crore)
| Period Ended | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Assets | 87.67 | 73.59 | 48.19 | 33.54 |
| Total Income | 49.07 | 71.62 | 48.34 | 29.71 |
| Profit After Tax | 10.5 | 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 |
Peer Comparision (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| Msafe Equipments Ltd. | 15.12 | - | 10.00 |
| Techno Craft India Industries Limited | 19.9 | 2235.30 | 10.00 |
Source: RHP,we have shown the P/E ratio of the IPO issuer company based on the pre-IPO valuation, and the CMP has been represented by the IPO issue price (upper price band).All the financial information for listed industry peer mentioned above is sourced from the Financial Results of the aforesaid companies for the year ended March 31, 2025 and stock exchange data dated December 30, 2025 to compute the corresponding financial ratios.
Peer Comparision (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Msafe Equipments Ltd. | 16.03 | 50.73 | 8.13 |
| Techno Craft India Industries Limited | 777.00 | 14.84 | 112.32 |
About Company
Incorporated in 2019, Msafe Equipments Limited is engaged in the manufacturing, sale, and rental of access and height-safety equipment used for safe working at heights.
The product portfolio includes aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders, and FRP ladders, catering to construction, maintenance, installation, repair, and infrastructure activities.
The company operates three manufacturing facilities in Greater Noida, Uttar Pradesh, supported by a network of 17 warehouses across states such as Maharashtra, Karnataka, Tamil Nadu, Gujarat, Punjab, and West Bengal, enabling efficient nationwide sales and rental operations.
The business follows a dual revenue model, generating income through product sales as well as rental services, which helps smoothen demand cycles.
During FY 2025, the company supplied products across 22 States and 3 Union Territories, serving sectors including construction, HVAC, MEP, electrical works, fire safety, interiors, and warehousing.
As of June 30, 2025, the company employed 299 permanent employees and 28 contractual staff, supporting operations and pan-India reach.
Strength
Multi-model revenue stream through both sales and rental of height-safety equipment.
In-house manufacturing facilities backed by quality certifications ensure product reliability.
Well-diversified customer base across industries and geographies reduces regional concentration risk.
Weakness
Dependence on construction and infrastructure sectors, making the business vulnerable to cyclical slowdowns.
High reliance on aluminium scaffolding, with any decline in demand potentially impacting revenues.
Lack of long-term customer contracts, as revenues depend largely on purchase orders and work orders.
Msafe Equipments Lead Manager(s)
Msafe Equipments Address
Address
F-311, 3rd Floor
Aditya Arcade Plot No. 30
Community Center, Preet Vihar, East Delh
New Delhi, New Delhi, 110092
+91-88822 07104
E-mail:info@msafegroup.com
Website:https://www.msafegroup.com/