Msafe SME IPO Subscription Status
Msafe SME IPO closed on 30 January 2026 with an overall subscription of 166.81x based on shares applied. QIB demand came in at 117.97x, NII at 308.61x, and retail at 133.16x.
Allotment will be finalised on 2 February 2026. The stock is scheduled to list on NSE and BSE on 4 February 2026.
Issue Price
Rs 123.00
GMP Today
Rs 26.00 (+21.14%)
Overall Subscription
166.81x
Issue Size
₹62.75 Cr
Allotment Date
2 Feb 2026
Listing Date
4 Feb 2026
Msafe SME IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 123.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 12.51 Cr | Rs 1,475.74 Cr | 117.97x |
| FII | - | Rs 326.07 Cr | - |
| DFI | - | Rs 91.71 Cr | - |
| Mutual Funds | - | - | - |
| Other | - | Rs 1,057.96 Cr | - |
| NII | Rs 9.52 Cr | Rs 2,938.08 Cr | 308.61x |
| bNII (above Rs 10L) | Rs 6.35 Cr | Rs 2,420.87 Cr | 381.43x |
| Corporate | - | Rs 27.52 Cr | - |
| Individual | - | Rs 2,363.63 Cr | - |
| Other | - | Rs 29.73 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 3.17 Cr | Rs 517.20 Cr | 162.98x |
| Corporate | - | Rs 2.44 Cr | - |
| Individual | - | Rs 508.74 Cr | - |
| Other | - | Rs 6.03 Cr | - |
| IND | Rs 21.97 Cr | Rs 2,925.19 Cr | 133.16x |
| Fixed price | - | Rs 2,925.19 Cr | - |
| Total | Rs 44.00 Cr | Rs 7,339.00 Cr | 166.81x |
Msafe SME IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 1,017 | 103 | 0.10x |
| FII | - | 27 | - |
| DFI | - | 4 | - |
| Mutual Funds | - | - | - |
| Other | - | 72 | - |
| NII | 258 | 33,712 | 130.67x |
| bNII (above Rs 10L) | 172 | 21,095 | 122.65x |
| Corporate | - | 213 | - |
| Individual | - | 20,622 | - |
| Other | - | 260 | - |
| sNII (Rs 2L to Rs 10L) | 86 | 12,617 | 146.71x |
| Corporate | - | 61 | - |
| Individual | - | 12,409 | - |
| Other | - | 147 | - |
| IND | 893 | 1,18,910 | 133.16x |
| Fixed price | - | 1,18,910 | - |
| Total | 2,168 | 1,52,725 | 70.45x |
What Do These Subscription Numbers Mean?
A subscription of 166.81x by shares means the IPO received bids for 167 times the shares reserved. Allotment odds depend on application count in each category, not share volume.
Here is what each category number tells you:
QIB at 117.97x by shares: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 117.97x, it reflects serious institutional conviction.
NII at 130.67x by applications: NII includes high net worth individuals applying above Rs 2 lakh. Proportional allotment uses application subscription. bNII came in at 122.65x and sNII at 146.71x by applications. Share subscription was 308.61x. Allotment uses application count, not share volume.
At 133.16x subscription by applications, approximately 1 in 133 retail applicants can expect an allotment (~1% per application). Retail allotment is done by lottery when oversubscribed.
Msafe SME IPO Allotment Chances
Allotment odds below use application subscription (number of bids received), not share or amount subscribed.
Retail (IND)
- •Application subscription: 133.16x.
- •Allotment odds: about 1 in 133 (~1% chance per application).
- •Method: Lottery. If allotted, you receive at least one lot.
- •One application per PAN. Multiple eligible accounts in a household can improve overall family odds, not individual odds.
SHNI (Rs 2 lakh to Rs 10 lakh)
- •Application subscription: 146.71x.
- •Allotment odds: about 1 in 147 for a minimum-lot application (~1% of the applied lot on average).
- •Method: Proportional. Shares allotted are based on your bid size, not a lottery.
- •Share subscription was 162.98x. Allotment uses application count, not share volume.
BHNI (above Rs 10 lakh)
- •Application subscription: 122.65x.
- •Allotment odds: about 1 in 123 for a minimum-lot application (~1% of the applied lot on average).
- •Method: Proportional. Shares allotted are based on your bid size, not a lottery.
- •Share subscription was 381.43x. Allotment uses application count, not share volume.
Check the Msafe SME IPO Allotment Status page from 2 February 2026 for your allotment result.
Msafe SME IPO GMP After Subscription
GMP for Msafe SME stands at Rs 26.00 today, giving an estimated listing price of Rs 149.00 per share.
The GMP has moved up from Rs 7.00 on 22 Jan 2026 to Rs 23.00 on 2 Feb 2026.
A subscription of 166.81x combined with a GMP of 21.14% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the Msafe SME IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
Msafe SME IPO Day-wise Subscription
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 28 Jan 2026 | 0.80x | 3.46x | 2.78x | 2.37x |
| Day 2 - 29 Jan 2026 | 0.81x | 26.65x | 15.15x | 13.56x |
| Day 3 - 30 Jan 2026 | 117.97x | 308.23x | 133.16x | 166.72x |
Msafe SME IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 28 January 2026 |
| IPO Close Date | 30 January 2026 |
| Allotment Date | 2 February 2026 |
| Refund Initiation | 3 February 2026 |
| Share Credit to Demat | 3 February 2026 |
| Listing Date | 4 February 2026 |
| Minimum Investment | Rs 2,46,000.00 |
| Lot Size | 1000 shares |
About Msafe SME
No company information available
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors
High net worth individuals applying above Rs 2 lakh. Divided into bNII (above Rs 10 lakh) and sNII (Rs 2 lakh to Rs 10 lakh). NII allotment is proportional.
IND - Individual Investors
Investors applying up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Minimum one lot per successful applicant.
Msafe SME IPO Subscription FAQs
What is Msafe SME IPO subscription status today?
Msafe SME IPO subscription closed on 30 January 2026 with overall subscription of 166.81x (by shares) as of 27 June 2026, 3:17 AM IST. QIB 117.97x, NII 130.67x, IND 133.16x.
What is the overall subscription of Msafe SME IPO?
Msafe SME IPO is subscribed 166.81x overall by shares at close on 30 January 2026. QIB 117.97x, NII 130.67x, and IND 133.16x.
What is Msafe SME IPO QIB subscription?
Msafe SME IPO QIB (Qualified Institutional Buyers) subscription is 117.97x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Msafe SME IPO IND subscription?
Msafe SME IPO IND subscription is 133.16x by applications. Minimum retail bid is up to Rs 2 lakh per PAN.
What is Msafe SME IPO NII subscription?
Msafe SME IPO NII (Non-Institutional Investors) subscription is 130.67x by applications. NII covers bids above Rs 2 lakh.
What are allotment chances in Msafe SME IPO for retail?
At 133.16x subscription by applications, approximately 1 in 133 retail applicants can expect an allotment (~1% per application). Allotment is done by lottery.
When is Msafe SME IPO allotment date?
Msafe SME IPO allotment date is 2 February 2026. Check Msafe SME IPO Allotment Status on IPOwiz from that day using your PAN.
When does Msafe SME IPO subscription close?
Msafe SME IPO subscription closed on 30 January 2026. No new applications are accepted after the close.
What is Msafe SME IPO GMP today?
Msafe SME IPO GMP is ₹26 today (+21.14% over issue price ₹123). See live GMP on the Msafe SME IPO GMP Today page.
What is Msafe SME IPO issue price and lot size?
Msafe SME IPO issue price is ₹123 per share. Lot size is 1000 shares. Minimum investment is ₹2,46,000 per lot (minimum 2 lots for SME). Issue size: ₹62.75 Cr.
When is Msafe SME IPO listing date?
Msafe SME IPO listing date is 4 February 2026 on NSE and BSE. Allotment is on 2 February 2026.
How does subscription affect Msafe SME IPO allotment?
Allotment odds in Msafe SME IPO depend on application subscription in each category, not share volume. Retail uses lottery when oversubscribed. NII proportional allotment at 130.67x by applications means roughly 1 in 131 for minimum-lot bids; bNII at 122.65x (~1 in 123). At 166.81x overall, competition is very high.
For allotment results from 2 February 2026, visit the Msafe SME IPO Allotment Status page. For listing day updates on 4 February 2026, download the IPOwiz App.
Reviewed by Dinesh Agrawal
15+ years in Indian capital markets and IPO research. Subscription data verified before publish.