- Price band
- ₹138 – ₹145
- Issue size
- ₹80.11 Cr
- Lot size
- 1000 sh
- Bidding
- 25 – 27 Feb
- Grey market
- —
Face value ₹10.00
100% fresh capital
Lists 5 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
58% of the scoring model was backed by disclosed data for Yaap Digital, giving low 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 2016 · Mumbai, Maharashtra, India · 108 employees
Yaap Digital is a Mumbai-headquartered digital marketing agency. It plans and runs online campaigns for brands: influencer marketing, content and video production, performance marketing and media buying across digital platforms, UI/UX and packaging design, and marketing analytics. It operates under the "YAAP" brand in India, the United Arab Emirates and Singapore through wholly owned subsidiaries, and in FY25 drew 15.98% of revenue from the UAE. Clients come mainly from banking and financial services, media and marketing agencies, travel and tourism, FMCG, lifestyle and healthcare, and include government projects. The company was incorporated in March 2016 and had 108 people on payroll as at 31 December 2025, the largest groups being creative (33), client servicing (20) and planning and strategy (14).
Revenue is fees and pass-through billings on campaigns executed for clients: Rs 152.54 crore in FY25, from Rs 112.55 crore in FY24. The cost base is largely bought in — direct expenses were Rs 102.39 crore of FY25 revenue, of which digital media buying was Rs 66.72 crore and influencer payments Rs 15.19 crore, against Rs 21.91 crore of payroll as the main fixed cost. The structural constraints are concentration and working capital: the top ten clients were 84.41% of FY25 revenue and one client alone 56.42%, BFSI was 68.59%, trade receivables ran at 123 days, and 69.41% of FY25 revenue was booked in the second half.
The company on paper
- Legal name
- Yaap Digital Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- 9 Mar 2016
- CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA
- U74900MH2016PLC274104
- Sector
- Communication Services · Digital marketing agency services — influencer, content and performance campaigns for brands
- Employees
- 108
- Registered office
- Mumbai, Maharashtra, India
- Promoters
- Atul Jeevandharkumar Hegde, Sudhir Menon, Subodh Menon
- Promoter holding, pre-issue
- 80.2%
- Promoter holding, post-issue
- 59.0%
- Website
- yaap.in
The numbers
Financial performance
Revenue has compounded at 40.2% 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
- ₹80.11 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- ₹0
- Total issue size
- ₹80.11 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
- 2,80,000
What the issue does to ownership
Share of paid-up equity before and after the offer. The promoters give up 21.2% 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
- ₹145.00
- Listed at
- ₹127.00
- Listing gain
- down 12.4%
- Since listing
- down 10.0%
- Against the issue price
- down 21.1%
Trading at ₹114.35 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
- 2,000
- At cut-off price
- ₹145.00
- Amount blocked
- ₹2,90,000
One lot is 1000 shares at ₹1,45,000. This issue requires a minimum of 2 lots, so the smallest application is ₹2,90,000. 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.
~62%
chance of one lot, per application
- Retail subscription
- 1.61×
- Applicants per share available
- 1.6× 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.
₹127.00
listed at, −12.4% against the issue price
- Issue price
- ₹145.00
- Premium said
- —
- If allotted 1000 shares
- −₹18,000
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 9M FY26 column covers the nine months to 31 December 2025, not a full year. The prospectus states it is not annualised and not comparable with the fiscal-year columns, and the business booked 69.41% of FY25 revenue in the second half, so it understates a full year by more than a quarter's worth.
- Balance-sheet equity share capital jumps from Rs 1.71 crore at 31 March 2025 to Rs 15.41 crore at 31 December 2025 because of an 8:1 bonus issue on 15 April 2025. The prospectus restates per-share figures for the bonus but not the share-capital line, so pre-bonus per-share numbers from older sources will not compare.
- Revenue above is revenue from operations. Trackers quoting Rs 154.40 crore for FY25 are using total income, which adds Rs 1.85 crore of other income.
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
- Socradamus Capital Private Limited
- RegistrarAllotment status is checked on the registrar's own site
- MUFG Intime India Private Limited
How these figures were checked
Reconciled to Yaap Digital's own prospectus and to exchange disclosures, then cross-checked against 6 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.
- Prospectus dated 2 March 2026 (NSE Emerge archives) — cover page, The Issue, Summary of the Offer Document, Our Business, Restated Consolidated Financial Information, Other Financial Information, Issue Procedure · read 16 Oct 2026
- NSE IPO bid details and metaInfo for symbol YAAP (final snapshot 27 Feb 2026 19:00 IST) — ISIN, listing date, segment, category-wise shares bid and applications · read 16 Oct 2026
- NSE cash-market bhavcopy, 5 March 2026 — YAAP row: ISIN, series ST, open 127.00, close 133.35, previous close 145.00, NewBrdLotQty 1000 · read 16 Oct 2026
The prospectus is the authoritative document. Check anything that matters against it before you act.
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