Multi-Model Source of Revenue through Product Sales and Rental Services
Our revenues are derived from two primary sources, namely product sales and rental services, providing us with a
2023-24 and 62.97% in FY 2022-23, with the balance derived from sales. While sales contribute to one-time revenue
IPO Timeline
Open Date28 Jan 2026
Close Date30 Jan 2026
Allotment2 Feb 2026
Refund3 Feb 2026
Credit to Demat3 Feb 2026
Listing Date4 Feb 2026
Objects of the Issue
The Offer comprises a Fresh Issue of up to 44,00,000 Equity Shares of face value of ₹10 each, aggregating up to ₹ Lakhs by the company and an Offer for Sale of up to 10,00,000 Equity Shares of face value of ₹ 10 each aggregating to up to ₹ Lakhs by the Selling Shareholders. Offer for Sale the company will not receive any proceeds of the Offer for Sale by the Selling Shareholders. Each of the selling Shareholders will be entitled to the respective proportion of the proceeds of the Offer for Sale
Purpose
Amount
The India Scaffolding Market studied was valued at INR s in 2024 and is expected to reach INR 12811.78
₹7,208.97 Cr
The total estimated cost of the project is, of which 3225.92 lakhs is proposed to be financed from the
₹37.02 Cr
The total estimated cost of the proposed manufacturing facility is, as per the Project Report dated
₹37.02 Cr
** the company has allocated a contingency amount of 5% of the project cost i.e. from the net
₹1.76 Cr
Risk Factors
BSE (BSE SME) for using its name in the Offer Document. For the purpose of this Offer, the Designated Stock Exchange will be the BSE Limited ("BSE").low
Strengths & Weaknesses
Strengths
✓Multi-Model Source of Revenue through Product Sales and Rental Services
✓Our revenues are derived from two primary sources, namely product sales and rental services, providing us with a
✓2023-24 and 62.97% in FY 2022-23, with the balance derived from sales. While sales contribute to one-time revenue
Weaknesses
!BSE (BSE SME) for using its name in the Offer Document. For the purpose of this Offer, the Designated Stock Exchange will be the BSE Limited ("BSE")
Management & Promoters
P
Pradeep AggarwalChairman and Managing Director
A
Ajay Kumar KanoiWhole time Director
F
Foreign CompaniesWhole Time Director
E
Equipments TradingWhole Time Director
R
Rushil AgarwalWhole Time Director
R
Rajani Ajay KanoiNon-Executive Director
V
Vaibhav MandhanaIndependent Director
M
Manish KankaniIndependent Director
S
Sombir CSWhole Time Director
V
Vice PresidentWhole Time Director
Shareholding Pattern
Pre-IPO
Category
%
Promoters
99.13%
Public
0.87%
Promoters
10%
Peer Comparison
Company
P/E
EPS
Msafe EquipmentsIPO
—
—
JANUARY ***
30.0x
—
CIN: UDLPLC
—
—
Pre-IPO Financials
Period
Revenue (Cr)
PAT (Cr)
Net Worth (Cr)
Total Assets (Cr)
March 2025
₹19.61 Cr
₹10.5 Cr
₹20.77 Cr
—
2025
—
₹13.01 Cr
₹16.9 Cr
—
2024
—
₹6.55 Cr
₹37.67 Cr
—
2023
—
₹3.65 Cr
—
—
2013
—
—
—
—
About
Msafe Equipments, founded in 2019, produces, sells, and offers height-safety equipment for rent to workers who work at heights. Its products include aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders, and fibre reinforced plastic (FRP) ladders. Their products mainly cater to construction, maintenance, installation, repair, and infrastructure development activities to ensure safe working. The company runs 3 manufacturing facilities in Greater Noida, Uttar Pradesh, with 17 war
rupiya.io is for research and education only. IPO data is sourced from public disclosures (DRHP/RHP). Not investment advice. Validate with SEBI-regulated disclosures before acting.
