Msafe Equipments IPO: The initial public offering (IPO) of Msafe Equipments, which opened for bidding on Wednesday, January 28, received a robust response from all sections of investors, with the issue being subscribed 73.23 times as of 1:30 PM.
The IPO received bids for 26.19 crore shares against 35.77 lakh shares on offer. The NII segment showed particularly strong interest, with its quota being subscribed 149.55 times, while the QIB segment was subscribed 31.74 times.
The retail investor category also displayed strong enthusiasm, placing bids for 11.38 crore shares against their reserved 17.86 lakh shares, resulting in a subscription of 63.77 times.
The company proposes to utilise the net proceeds from the IPO to meet working capital requirements and for general corporate purposes.
Msafe Equipments issue details
1. Msafe Equipments IPO date: The issue opened for subscription on Wednesday, January 28, and will end today, January 30.
2. Msafe Equipments IPO price: The price band of the IPO has been fixed at ₹123 per equity share.
3. Msafe Equipments IPO size: The company aims to raise ₹54.2 crore through the IPO, which is a fresh issue of 0.44 crore shares.
4. Msafe Equipments IPO lot size: The IPO lot size is fixed at 2,000 shares, requiring a minimum investment of ₹2.46 lakh for retail investors.
5. Msafe Equipments IPO reservation: The IPO has reserved 25.42 lakh shares for QIB, 7.74 lakh for NII, and 17.86 lakh for retail investors.
6. Msafe Equipments IPO allotment date: The IPO allotment date is set for Monday, February 02. Investors who receive an allotment will see the shares in their demat accounts by Tuesday, February 03, while those who do not will have their refunds processed on the same day.
7. Msafe Equipments IPO listing: The SME IPO is proposed to list on BSE SME on Wednesday, February 04.
8. Msafe Equipments IPO GMP: According to market sources, the GMP of Msafe Equipments IPO on Friday was 25, indicating that the stock might list at a 20.33% premium to the IPO price of ₹123.
9. Msafe Equipments IPO book-running lead manager and registrar: Seren Capital Pvt. Ltd. is the book-running lead manager, and Maashitla Securities Pvt. Ltd. is the registrar of the issue. The market maker of the company is Evermore Share Broking Private Limited.
10. Msafe Equipments overview: It is engaged in the manufacturing, sales, and rental of access and height-safety equipment used for safe working at heights.
Its product portfolio includes aluminum scaffoldings, mild steel (MS) scaffoldings, aluminum ladders, and fiber-reinforced plastic (FRP) ladders, catering to operational and safety needs across construction, maintenance, installation, repair, and infrastructure development activities.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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