Mobilise App Lab Limited is launching its 100% fresh issue of 25.12 lakh equity shares on the NSE SME (Emerge) platform. The subscription window will open on Monday, February 23, 2026, and close on Wednesday, February 25, 2026.
The company’s product suite—including OpsSuite (maintenance management), EduPro (education ERP), and SCMPro (supply chain)—serves a diverse B2B client base. Financially, Mobilise has shown strong momentum; its Profit After Tax (PAT) increased from ₹3.10 crore in FY24 to ₹4.71 crore in FY25. Impressively, for the 9-month period ending December 2025 (FY26), the company has already clocked a PAT of ₹4.01 crore, maintaining high net margins of approximately 30%.
The proceeds will be utilized for:
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Product Development & Talent Hiring: ₹5.54 crore.
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Infrastructure Development: ₹5.47 crore.
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Marketing & Business Expansion: ₹3.03 crore.
Key IPO Details & Timetable
| Feature | Details |
| Price Band | ₹75 – ₹80 per share |
| Lot Size | 1,600 Shares (Min. Investment ₹2,56,000 for Retail*) |
| Total Issue Size | ₹20.10 Crore (100% Fresh Issue) |
| Grey Market Premium | ₹11 (Approx. 14% Listing Gain) |
| Anchor Bidding | February 20, 2026 (Friday) |
| Public Open Date | February 23, 2026 (Monday) |
| Public Close Date | February 25, 2026 |
| Allotment Date | February 26, 2026 |
| Tentative Listing | March 2, 2026 |
*Note: Retail investors must apply for a minimum of 2 lots (3,200 shares) due to the SME lot size regulations.
Important News & Investor Insights
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Today's Status (Feb 18): The company is in the final "cooling" phase. Anchor bidding is scheduled for this Friday (Feb 20), which will be the first real test of institutional demand.
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GMP Trend: The Grey Market Premium is currently hovering around ₹11, signaling a positive debut expectation. This is particularly strong for an IT SaaS play in the current market.
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Differentiated Moat: Unlike generic IT service firms, Mobilise is a "multi-solution SaaS" platform. This means their revenue is primarily derived from software licenses and subscriptions, leading to higher Return on Net Worth (RoNW), which stood at a robust 33.27% in Dec 2025.
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Customer Concentration: A potential risk is their reliance on the top 10 clients for a significant portion of revenue. Additionally, a large chunk of their historical sales has been concentrated in Maharashtra.
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Valuation: At the upper price band of ₹80, the post-issue P/E ratio is roughly 14.22x. This is considered attractive compared to peers like Unicommerce Esolutions (67x) or Iris Business (61x), though those are larger mainboard entities.
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