31 Mar 2023
Assets33.54
Total Income29.71
EBITDA9.19
Profit After Tax3.65
NET Worth6.09
Reserves and Surplus5.09
Total Borrowing20.37
At a glance
Updated 2026-09-09The shares listed at ₹144.00, a 17.07% move from the issue price. Msafe Equipments is a SME IPO with an issue size of ₹66.42 crore, proposed for listing on BSE SME. The offer opens on 28th Jan 2026 and closes on 30th Jan 2026. The issue structure includes a fresh issue of ₹50.45 crore and an offer-for-sale component of ₹12.30 crore. The current listing schedule points to 4th Feb 2026.
Issue details
Listing atBSE SME
Issue typeBook Build Issue
Issue size₹66.42 Cr
Fresh issue₹50.45 Cr
Offer for sale₹12.30 Cr
Face value₹10
Price band₹116.00–₹123.00
Allotment2nd Feb 2026
Listing4th Feb 2026
Listing performance
Full performance ↗Issue price₹123.00
Listing price₹144.00
Current price—
Listing gain17.07%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹21.00
GMP / upper price17.07%
Est. listing₹144.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens28th Jan 2026
Closes30th Jan 2026
Allotment2nd Feb 2026
Refund3rd Feb 2026
Demat3rd Feb 2026
Listing4th Feb 2026
Subscription demand
Full bidding ↗QIB117.97×
sHNI162.98×
bHNI241.79×
NII / HNI241.79×
Retail133.16×
Total166.72×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 2000 | ₹246,000 |
Company
Incorporated2019
Use of proceeds
| Object | Amount |
|---|---|
| Funding of Capital expenditure towards setup of a new Manufacturing Facility. | ₹32.26 Cr |
| Funding of Capital expenditure for manufacturing of equipments for Rental purpose. | ₹6.00 Cr |
| Utilization towards working capital requirements. | ₹8.00 Cr |
| General Corporate Purposes | ₹1.76 Cr |
| Issue Expenses | ₹7.48 Cr |
| Total | ₹55.50 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue49.07₹ Cr · -31.5% vs prior year
EBITDA19.21₹ Cr · -26.3% vs prior year
PAT10.50₹ Cr · -19.3% vs prior year
Assets87.67₹ Cr · +19.1% vs prior year
Net Worth36.15₹ Cr · +40.9% vs prior year
Borrowing37.67₹ Cr · +15.7% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ crore31 Mar 2024
Assets48.19
Total Income48.34
EBITDA15.12
Profit After Tax6.55
NET Worth12.64
Reserves and Surplus11.64
Total Borrowing25.87
31 Mar 2025
Assets73.59
Total Income71.62
EBITDA26.08
Profit After Tax13.01
NET Worth25.65
Reserves and Surplus24.65
Total Borrowing32.56
30 Sep 2025
Assets87.67
Total Income49.07
EBITDA19.21
Profit After Tax10.50
NET Worth36.15
Reserves and Surplus20.15
Total Borrowing37.67
KPIs
| KPI | Mar 31, 2025 | Sep 30, 2025 |
|---|---|---|
| ROE | 67.97% | 33.98% |
| ROCE | 34.56% | 21.21% |
| RoNW | 50.73% | 29.05% |
| PAT Margin | 18.24% | 21.42% |
| EBITDA Margin | 36.55% | 39.20% |
| Price to Book Value | 7.67 | 5.44 |
Valuation & shareholding
Pre-IPO EPS8.13
Post-IPO EPS10.29
Pre-IPO P/E15.12
Post-IPO P/E11.95
Promoter holding pre100%
Promoter holding post73.53%
Market cap₹250.92 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Msafe Equipments IPO | — | 11.95 x | — | — |
| Poojaa Precision IPO | — | 19.43 x | — | — |
| Kanishk Aluminium IPO | — | 19.03 x | — | — |
| HRS Aluglaze IPO | — | 20.40 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Funding of Capital expenditure towards setup of a new Manufacturing Facility. | ₹32.26 Cr |
| Funding of Capital expenditure for manufacturing of equipments for Rental purpose. | ₹6.00 Cr |
| Utilization towards working capital requirements. | ₹8.00 Cr |
| General Corporate Purposes | ₹1.76 Cr |
| Issue Expenses | ₹7.48 Cr |
| Total | ₹55.50 Cr |
Registrar & lead managers
Registrar
Maashitla Securities Pvt.Ltd.Lead managers
- Seren Capital Pvt.Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-09.
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