Msafe Equipments: IPO Fund Utilization Report Q2 FY27

Msafe Equipments Ltd has submitted its Monitoring Agency Report for the second quarter of FY27, ending September 30, 2026. The report, issued by CARE Ratings Limited, details the utilization of funds raised through its Initial Public Offering (IPO) of equity shares, which aggregated to Rs. 54.12 crore. The company utilized issue proceeds towards the acquisition of land for proposed capital expenditure. While the land acquired differs in location, counterparty, and cost from the offer document, the board of directors approved the revised details on May 11, 2026, subsequent to the agreement date. CARE Ratings confirmed no deviation from the objects as per SEBI regulations.