The scrip listed at Rs 144, a 17.07% premium to the issue price. The stock was currently frozen at its upper limit of 5% to the listing price. The stock touched a high of Rs 151.20 and a low of Rs 136.80, with around 30.54 lakh shares changing hands on the counter.
Msafe Equipments' IPO was subscribed 153.98 times. The issue opened for bidding on 28 January 2026 and it closed on 30 January 2025. The price band of the IPO was fixed between Rs 116 to Rs 123 per share.
The IPO comprised fresh issue of 44,00,000 equity shares and offer for sale (OFS) of 10,00,000 equity shares by existing shareholders.
The company intends to utilize the net proceeds for funding of capital expenditure towards setup of a new manufacturing facility, funding of capital expenditure for manufacturing of equipment’s for rental purpose, utilization towards working capital requirements and for general corporate purpose.
Ahead of the IPO, Msafe Equipments on 27 December 2025, raised Rs 1.75 crore from anchor investors. The board allotted 1.43 lakh shares at Rs 123 per share to 8 anchor investor.
Msafe Equipments manufactures, sells and rents access and height-safety equipment for working at elevated locations, with a product portfolio that includes aluminium and mild steel scaffoldings, aluminium ladders and fibre-reinforced plastic ladders. The company operates three manufacturing facilities in Greater Noida, Uttar Pradesh, and is supported by 17 warehouses across key states, enabling efficient sales and rental operations. In FY25, Msafe supplied products across 22 states and three Union Territories, serving clients in construction, HVAC, MEP, electrical, fire safety, interior fit-out and warehousing segments. As of 31 December 2025, Msafe Equipments had a workforce of 350 permanent employees and 66 contractual staff.
The company recorded revenue from operations of Rs 49.01 crore and net profit of Rs 10.50 crore for the period ended 30 September 2025.