Msafe Equipments IPO GMP

January 30, 2026 Written By Mihir Gohel, Reviewed and Fact Checked by Harpal Parmar

Msafe Equipments IPO opens for subscription on January 28, 2026, and closes on January 30, 2026, raising ₹66 crore through a mix of fresh issue (₹50 crore) and offer for sale (₹12 crore) listed on BSE SME. The Greater Noida-based manufacturer produces aluminium and MS scaffolding, industrial ladders, and aerial work platforms meeting EN1004 standards, serving construction, infrastructure, renewables, and maintenance sectors. Msafe Equipments IPO targets investors seeking exposure to India’s infrastructure safety equipment demand amid construction boom.

₹26

Latest IPO GMP

Last updated on 01 Feb 2026 13.46

₹123

IPO Offer Price

*cut off price

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Listing Price

Listing date is 04/02/2026.

Expert Opinions

Market sentiment for Msafe Equipments IPO remains constructive among SME investors targeting infrastructure plays, buoyed by safety regulation enforcement. Company strengths encompass EN1004-compliant aluminium scaffolding production, integrated sales/rental model generating recurring revenue, pan-India distribution via 17 warehouses, and diversified end-markets spanning construction, power, and oil&gas sectors. Risks include rental asset depreciation, project cyclicality tied to infra spending, working capital intensity, and competition from unorganized players.

Valuation analysis for Msafe Equipments IPO and year 2025 reveals Return on Equity (ROE) of 67.97%, ROCE of 34.56%, and Net Asset Value (NAV) of ₹16.03, commanding premium multiples justified by rental income stability. Long-term investment perspective aligns with ₹111 lakh crore National Infrastructure Pipeline execution, favoring portfolios positioned for multi-year construction safety demand.

Investor Considerations

Msafe Equipments IPO investors should scrutinize the company’s strong financial trajectory, with FY 2025 revenue climbing 48% to ₹71.62 crore and PAT soaring 99% to ₹13.01 crore, bolstered by 36.55% EBITDA margins from rental income scaling. Height safety equipment sector outlook surges alongside ₹111 lakh crore infrastructure capex, mandating EN1004-compliant scaffolding for construction and renewables.

Valuation analysis for Msafe Equipments IPO in 2025 reveals Price to Book Value of 7.67, PAT Margin of 18.24%, and EBITDA Margin of 36.55%, reflecting premium pricing for rental model stability. Growth prospects encompass facility expansions and export push amid urbanization. Risk factors include asset depreciation cycles, infra project delays, and raw material volatility. Long-term investment goals leverage recurring rentals, while short-term strategies navigate SME allotment and listing risks.