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Msafe Equipments Limited, established in 2019, specializes in the manufacturing, sales, and rental of access and height-safety equipment. The company's product line includes aluminium and mild steel scaffoldings, along with aluminium and fibre reinforced plastic (FRP) ladders, serving diverse sectors such as construction, infrastructure, and industrial maintenance. A significant portion of its revenue is generated through its rental services, which provide customers flexible access to equipment across India. The company operates from three manufacturing facilities in Greater Noida and maintains a network of 21 warehouses nationwide.
Jan 28, 2026
Jan 30, 2026
Feb 04, 2026
SME
Closed
66.42 Cr
54.12 Cr
12.3 Cr
₹116 - ₹123
1000
Our Company intends to utilize the Net Proceeds of the Offer to meet the following objects:
Funding of capital expenditure amounting to ₹32.26 crores towards setting up a new manufacturing facility at Kosi Kotwan Industrial Area, Mathura, Uttar Pradesh, to expand production capabilities and enter the hanging scaffolding segment.
Funding of capital expenditure of ₹6.00 crores for the in-house manufacturing of additional aluminium scaffoldings, MS scaffoldings, and ladders to expand the equipment fleet for the rental business.
Utilization of ₹8.00 crores towards funding the company's incremental working capital requirements to support business expansion.
To meet general corporate purposes, including but not limited to, meeting operating expenses, strengthening business development and marketing capabilities, and addressing unforeseen exigencies.
15.12
8.13
33.98%
21.21%
29.05%
—
21.42%
39.2%
5.44
Diversified revenue from both product sales and a significant rental services model, providing recurring income streams.
In-house manufacturing facilities with ISO and CE certifications ensure control over product quality and supply chain.
A well-diversified customer base across various industries and geographies, reducing dependency on any single sector.
Experienced promoters and management team with extensive domain knowledge in the scaffolding industry.
Significant dependence on the performance of the construction and infrastructure sectors, making the business vulnerable to sector-specific slowdowns.
Lack of long-term customer agreements, with revenue primarily dependent on short-term purchase and work orders.
Limited operating history in in-house manufacturing, having transitioned from third-party sourcing only in FY 2023-24.
High dependence on a limited number of suppliers for key raw materials like aluminium extrusion.
Massive government infrastructure push through initiatives like the National Infrastructure Pipeline (NIP) and PM Gati Shakti is set to fuel scaffolding demand.
The growing preference for modular, lightweight, and safety-compliant systems over traditional scaffolding presents a significant market opportunity.
Increasing demand for rental-based mobile access platforms for industrial maintenance and plant access needs.
Expansion into new product segments such as hanging scaffolding to cater to specialized requirements in high-rise construction and industrial maintenance.
Intense competition from both large organized players and numerous unorganized regional vendors, leading to pricing pressures.
Volatility in raw material prices, particularly aluminium, which can adversely affect manufacturing costs and profit margins.
Economic slowdowns or delays in project execution within the construction and infrastructure sectors could lower demand.
Products are used in high-risk environments, exposing the company to potential liability claims and reputational damage from accidents.
Msafe Equipments Limited, established in 2019, specializes in the manufacturing, sales, and rental of access and height-safety equipment. The company's product line includes aluminium and mild steel scaffoldings, along with aluminium and fibre reinforced plastic (FRP) ladders, serving diverse sectors such as construction, infrastructure, and industrial maintenance. A significant portion of its revenue is generated through its rental services, which provide customers flexible access to equipment across India. The company operates from three manufacturing facilities in Greater Noida and maintains a network of 21 warehouses nationwide.
The Msafe Equipments Ltd. IPO is scheduled to open for subscription on Jan 28, 2026 and close on Jan 30, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the Msafe Equipments Ltd. IPO is ₹116 to ₹123. Investors can place bids within this range once the issue opens.
The minimum lot size for the Msafe Equipments Ltd. IPO is 1000 shares. The minimum investment amount ₹1,23,000.
The total issue size of the Msafe Equipments Ltd. IPO is approximately ₹66.42. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Msafe Equipments Ltd. IPO has been subscribed 13.56 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Msafe Equipments Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Msafe Equipments Ltd. are expected to list on stock exchanges on Feb 04, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Msafe Equipments Ltd. IPO are proposed to be used for Our Company intends to utilize the Net Proceeds of the Offer to meet the following objects:, Funding of capital expenditure amounting to ₹32.26 crores towards setting up a new manufacturing facility at Kosi Kotwan Industrial Area, Mathura, Uttar Pradesh, to expand production capabilities and enter the hanging scaffolding segment., Funding of capital expenditure of ₹6.00 crores for the in-house manufacturing of additional aluminium scaffoldings, MS scaffoldings, and ladders to expand the equipment fleet for the rental business., Utilization of ₹8.00 crores towards funding the company's incremental working capital requirements to support business expansion., To meet general corporate purposes, including but not limited to, meeting operating expenses, strengthening business development and marketing capabilities, and addressing unforeseen exigencies.
Before applying for the Msafe Equipments Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
