- Price band
- ₹75 – ₹80
- Issue size
- ₹20.10 Cr
- Lot size
- 1600 sh
- Bidding
- 23 – 25 Feb
- Grey market
- —
Face value ₹10.00
100% fresh capital
Lists 2 Mar 2026
No quote recorded
Market data to 30 Oct 2026. Company figures are as filed, sourced 16 Oct 2026. Every figure’s origin is listed under Sources.
IPOVista score
How this issue scores, and why
Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.
IPOVista score
Broadly well-balanced
63% of the scoring model was backed by disclosed data for Mobilise App Lab, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.
How this score is builtBelow the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.
Read this before the number
SME platform listing
SME issues trade in larger lot sizes with thinner volumes than mainboard listings, which makes exiting a position harder.
The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.
The company
What the business actually does
Founded 2013 · Faridabad, Haryana, India · 95 employees
Mobilise App Lab sells four enterprise software platforms to Indian businesses and institutions, which in turn use them to serve their own end customers. HRevO is an HR and payroll system covering hiring through offboarding. OpsSuite is a computerised maintenance management system for tracking physical assets, work orders, equipment history and preventive maintenance. SCMPro handles source-to-contract and procure-to-pay across the supply chain. EduPro is a school and college ERP covering admissions, attendance, fees, examinations, transport and hostel, and the company also integrates RFID student tracking and GPS bus tracking around it. The business began as an LLP in 2013 with EduPro, added the CMMS in 2016-17, SCMPro in 2017-18 and HRevO in 2019-20. It employed 95 people across Faridabad, Gurugram and client sites.
Revenue is mainly monthly recurring charges for access, support and updates, plus a separate change cost when a client wants work beyond the agreed scope. Pricing differs by platform: EduPro bills per student per month, HRevO per employee per month or as a lump-sum enterprise contract, OpsSuite per asset, per site or at a flat enterprise rate, and SCMPro as a lump sum for the project scope. HRevO was 52.79% of FY25 revenue from operations of Rs 1,614.09 lakh. The structural constraint is concentration: the top ten customers were 97.39% of FY25 revenue and repeat customers 92.94%.
The company on paper
- Legal name
- Mobilise App Lab Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- 17 Jul 2023trading as Mobilise App Lab since 2013
- CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA
- U62012HR2023PLC113349
- Sector
- Information Technology · Enterprise SaaS and ERP platforms for HR, maintenance, procurement and education
- Employees
- 95
- Registered office
- Faridabad, Haryana, India
- Promoters
- Ashish Sharma, Smriti Sharma, Manish Sharma
- Promoter holding, pre-issue
- 94.0%
- Promoter holding, post-issue
- 69.2%
- Website
- mobilise.co.in
The numbers
Financial performance
Revenue has compounded at 52.4% a year across the 3 reported financial years.
Revenue and profit
Figures in ₹ crore, as reported in the prospectus. Interim quarters are not annualised.
- Revenue
- Profit after tax
Margin trend
Profit and operating margin as a percentage of revenue
- Net margin
- EBITDA margin
Net worth and borrowings
At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.
- Net worth
- Total borrowings
The price
Valuation
What the issue asks for the business, set against what the business earns.
No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.
The terms
How the issue is structured
100% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.
- Fresh issueNew shares — proceeds go to the company
- ₹20.10 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- ₹0
- Total issue size
- ₹20.10 Cr
- Shares offered in the OFS
- —
- Pre-issue shares outstanding
- —
- Employee discount
- —
- Market maker portionSME issues require a market maker to provide two-way quotes
- 1,26,400
What the issue does to ownership
Share of paid-up equity before and after the offer. The promoters give up 24.8% of the company.
- Promoters
- Everyone else
Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.
Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. This record does not disclose a pre- and post-issue share count, so the part of the company actually changing hands is not split out — everyone who is not a promoter is shown together.
Demand
What the market is bidding
Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.
Subscription by category
Cumulative bid multiples at the end of day 3. Anchor allocations are excluded.
Hover or focus a category to see who bids in it.
A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.
Grey market premium
Unofficial over-the-counter sentiment
No grey-market quotes have been recorded for this issue.
Outcome
How it actually listed
- Issue price
- ₹80.00
- Listed at
- ₹64.10
- Listing gain
- down 19.9%
- Since listing
- up 49.1%
- Against the issue price
- up 19.5%
Trading at ₹95.60 on 30 Oct 2026
What an allotment is worth now, before costs
Work it out
What this means for one application
Three calculations, each stating the assumption it rests on.
What one application costs
Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.
- Shares applied for
- 3,200
- At cut-off price
- ₹80.00
- Amount blocked
- ₹2,56,000
One lot is 1600 shares at ₹1,28,000. This issue requires a minimum of 2 lots, so the smallest application is ₹2,56,000. That is how the SME board is built rather than a quirk of this issue: the minimum application is set above the ₹2,00,000 that caps a retail bid on the mainboard — two lots rather than one. The smallest bid here still sits in the individual investors’ category, the one the subscription figures call retail, and when that category is oversubscribed the minimum application is allotted by draw of lots — so the odds beside this apply directly.
Odds of getting an allotment
When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.
~1%
chance of one lot, per application
- Retail subscription
- 96.41×
- Applicants per share available
- 96.4× the retail quota
This is an estimate of a lottery, not a prediction. Actual odds depend on the final basis of allotment, how many applications were at the minimum lot, and rejections for technical reasons. Applying from multiple distinct PANs is the only legitimate way to hold more tickets in that lottery.
What it actually did
This issue has listed, so there is a real number instead of a prediction. The grey-market premium is shown beside it for comparison.
₹64.10
listed at, −19.9% against the issue price
- Issue price
- ₹80.00
- Premium said
- —
- If allotted 1600 shares
- −₹25,440
Listing-day figures are as reported by the exchanges.
Our read
Easy to misread
Grounded only in figures disclosed in the prospectus. This is analysis, not a recommendation.
Easy to miss in the prospectus
- The December 31, 2025 column is a nine-month stub period, not a full year. Its revenue of Rs 13.24 Cr and PAT of Rs 4.01 Cr are not comparable with the FY23-FY25 full years above them.
- There is an entity break inside the series. The business was an LLP until 17 July 2023, so FY23 and part of FY24 predate the company whose CIN appears on this record. The Prospectus reports share capital of Rs 206.50 lakh for FY23 and Rs 0.10 lakh for FY24, and basic EPS of Rs 31,005 for FY24 against Rs 262.96 for FY25, both artefacts of that conversion and the share count that followed it rather than of trading performance.
Straight from the filing
Read it yourself
Every figure on this page comes out of these. Go and check them.
Served by the issuer, the exchange or the regulator — never a copy hosted here, so what you open is the filing itself.
The paperwork
Who is running the issue
- Lead managers
- Corporate Capitalventures Private Limited
- RegistrarAllotment status is checked on the registrar's own site
- Bigshare Services Private Limited
How these figures were checked
Reconciled to Mobilise App Lab's own prospectus and to exchange disclosures, then cross-checked against 7 other independently published compilations of the same filing. Where a stated ratio disagreed with the line items it should come from, the disagreement was settled against the prospectus itself.
- NSE UDiFF cash-market bhavcopy, 2 March 2026 (ISIN INE1YNB01019, series ST, NewBrdLotQty 1600, listing-day OHLC) · read 16 Oct 2026
- NSE full security bhavdata, 2 March 2026 (MOBILISE, series ST, prev close 80.00, open 64.10, close 67.30) · read 16 Oct 2026
- Mobilise App Lab Limited - Prospectus (filed, dated 2026) · read 16 Oct 2026
- Mobilise App Lab - Investor Relations (IPO document index) · read 16 Oct 2026
The prospectus is the authoritative document. Check anything that matters against it before you act.
Other issues worth reading next
Marushika Technology
Value-added distribution and installation of IT and telecom infrastructure hardware for government-linked projects
Listed 19 Feb 2026 · SME
- Price band
- ₹111 – ₹117
- Listing gain
- up 2.6%
- Score
- 73/100
Novus Loyalty
Loyalty and rewards programme software with reward fulfilment
Listed 25 Mar 2026 · SME
- Price band
- ₹139 – ₹146
- Listing gain
- unchanged 0.0%
- Score
- 75/100
Highness Microelectronics
Industrial and medical-grade display modules and ruggedised display monitors
Listed 2 Apr 2026 · SME
- Price band
- ₹114 – ₹120
- Listing gain
- up 4.2%
- Score
- 80/100