Msafe Equipments IPO
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Msafe Equipments IPO details
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.