Comparison between Marushika Technology IPO and Msafe Equipments IPO.
Marushika Technology IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Msafe Equipments IPO is a SME Bookbuilding proposed to list at BSE SME.
| Marushika Technology IPO | Msafe Equipments IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | NSE SME | BSE SME |
| Lead Managers | NEXGEN Financial Solutions Pvt. Ltd. | Seren Capital Pvt.Ltd. |
| Registrar | Skyline Financial Services Pvt.Ltd. | Maashitla Securities Pvt.Ltd. |
| Market Maker | Nikunj Stock Brokers Ltd. | Evermore Share Broking Private Limited |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | Anchor Investor |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Marushika Technology IPO is up to ₹25.61 Cr whereas the issue size of the Msafe Equipments IPO is up to ₹62.75 Cr. The final issue price of Marushika Technology IPO is ₹117.00 per share and of Msafe Equipments IPO is ₹123.00 per share.
| Marushika Technology IPO | Msafe Equipments IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹111.00 per share | ₹116.00 per share |
| Issue Price (Upper) | ₹117.00 per share | ₹123.00 per share |
| Issue Price (Final) | ₹117.00 per share | ₹123.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1200 shares | 1000 shares |
| Fresh Issue Size | 21,88,800 shares | 41,02,000 shares |
| Fresh Issue Size (Amount) | up to ₹25.61 Cr | up to ₹50.45 Cr |
| OFS Issue Size | 0 shares | 10,00,000 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹12.30 Cr |
| Issue Size Total | 21,88,800 shares | 51,02,000 shares |
| Issue Size Total (Amount) | up to ₹25.61 Cr | up to ₹62.75 Cr |
Marushika Technology IPO opens on Feb 12, 2026, while Msafe Equipments IPO opens on Jan 28, 2026. The closing date of Marushika Technology IPO and Msafe Equipments IPO is Feb 16, 2026, and Jan 30, 2026, respectively.
| Marushika Technology IPO | Msafe Equipments IPO | |
|---|---|---|
| Anchor Bid Date | Feb 11, 2026 | Jan 27, 2026 |
| Issue Open | Feb 12, 2026 | Jan 28, 2026 |
| Issue Close | Feb 16, 2026 | Jan 30, 2026 |
| Basis Of Allotment (Tentative) | Feb 17, 2026 | Feb 02, 2026 |
| Initiation of Refunds (Tentative) | Feb 18, 2026 | Feb 03, 2026 |
| Credit of Share (Tentative) | Feb 18, 2026 | Feb 03, 2026 |
| Listing date (Tentative) | Feb 19, 2026 | Feb 04, 2026 |
| Anchor Lockin End date 1 | Mar 19, 2026 | Mar 06, 2026 |
| Anchor Lockin End date 2 | May 18, 2026 | May 05, 2026 |
Marushika Technology IPO P/E ratio is 11.6, as compared to Msafe Equipments IPO P/E ratio of 15.12.
| Marushika Technology IPO | Msafe Equipments IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated Consolidated)
| Company Financials (Restated)
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 79.71 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 58.19 | 73.53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 11.6 | 15.12 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹99.88 Cr. | ₹250.92 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 52.77 | 67.97 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 26.88 | 34.56 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 1.39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹10.09 | ₹8.13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 52.77 | 50.73 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Marushika Technology IPO Retail Individual Investors (RII) are offered 7,70,400 shares while in Msafe Equipments IPO retail investors are offered 7,70,400 shares. Qualified Institutional Buyers (QIB) are offered 4,35,600 shares in Marushika Technology IPO and 10,17,000 shares in Msafe Equipments IPO.
| Marushika Technology IPO | Msafe Equipments IPO | |
|---|---|---|
| Anchor Investor Reservation | 6,51,600 shares | 15,25,000 shares |
| Market Maker Reservation | 1,16,400 shares | 2,98,000 shares |
| QIB | 4,35,600 shares | 10,17,000 shares |
| NII | 3,31,200 shares | 7,74,000 shares |
| RII | 7,70,400 shares | 17,86,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 21,88,800 shares | 51,02,000 shares |
Marushika Technology IPO subscribed 17.94x in total, whereas Msafe Equipments IPO subscribed 166.72x.
| Marushika Technology IPO | Msafe Equipments IPO | |
|---|---|---|
| QIB (times) | 2.92x | 117.97x |
| NII (times) | 41.00x | 308.23x |
| Big NII (times) | 50.69x | 380.85x |
| Small NII (times) | 21.92x | 162.98x |
| RII (times) | 16.51x | 133.16x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 17.94x | 166.72x |
