Msafe Equipments IPO

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Msafe Equipments IPO details

28th – 30th Jan 2026
04 Feb 2026
₹116 – ₹123
Lot size 1000 — ₹123000
66cr

Schedule of Msafe Equipments

Issue open date 28 Jan 2026
Issue close date 30 Jan 2026
UPI mandate deadline 30 Jan 2026 (5 PM)
Allotment finalization 02 Feb 2026
Refund initiation 03 Feb 2026
Share credit 03 Feb 2026
Listing date 04 Feb 2026
Mandate end date 14 Feb 2026
Lock-in end date for anchor investors (50%) 04 Mar 2026
Lock-in end date for anchor investors (remaining) 03 May 2026

Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.

About Msafe Equipments

Incorporated in 2019, the company is engaged in the manufacturing, sale, and rental of access and height-safety equipment used for safe working at heights. Its product portfolio includes aluminium scaffoldings, mild steel scaffoldings, aluminium ladders, and fibre reinforced plastic ladders, designed to meet diverse safety and operational needs. These solutions are used across construction, maintenance, installation, repair, and infrastructure projects, supporting activities such as facade works, HVAC and MEP installations, electrical works, interior finishing, firefighting, and warehouse operations, while reducing workplace safety risks.

The company offers a wide range of aluminium scaffolding systems, including stairway, podium, cantilever, bridge, and extra-reach variants, along with steel scaffoldings for high-load and long-duration projects. Its aluminium and FRP ladders cater to mobility and electrical safety requirements. The company serves a broad customer base across civil construction, infrastructure, facility management, HVAC, MEP, electrical contracting, warehousing, and logistics, and catered to over 2,500 customers in FY 2024–25. 


Financials of Msafe Equipments


Issue size

Funds Raised in the IPO Amount
Total issue size 66
Fresh Issue – Proceeds go to the company 50
Offer for Sale 12

Utilisation of proceeds

Purpose INR crores (%)
Capital expenditure for new manufacturing facility 32.26 (64.52%)
Capital expenditure for rental equipment 6 (12%)
Working capital requirements 8 (16%)
General corporate purposes 3.74 (7.48%)

Strengths

  • In-house manufacturing with large installed capacity across aluminium and MS products
  • Diversified product mix across scaffolding, ladders, and rental solutions
  • Strong presence in infrastructure and large construction projects across India
  • Established rental model providing recurring revenue visibility
  • Expansion plans aligned with rising demand for access and height-safety equipment

Risks

  • Business heavily dependent on construction and infrastructure sector cycles
  • Delays in land acquisition and approvals may impact new facility setup
  • High trade receivables may strain cash flows and liquidity
  • Economic slowdowns or global instability can affect demand and profitability
  • The business is labour-intensive and may be impacted by labour shortages, wage pressures, or work stoppages.