- Mobilise App Lab's IPO was fully subscribed on its first day of bidding on Feb 23
- The IPO aims to raise over Rs 20 crore with a price band of Rs 75 to Rs 80 per share
- Grey market premium suggests a 20% listing gain with shares estimated at Rs 96 each
The initial public offering (IPO) of Mobilise App Lab Ltd. which opened for subscription on Feb. 23 was fully subscribed on Day 1. The NSE SME issue will remain open for bidding till Feb. 25.
The company aims to raise over Rs 20 crore from the primary market through the IPO. Mobilise App Lab specialises in providing IT solutions.
On the first day of bidding, the grey market premium (GMP) for the issue has gained, indicating a positive listing gain.
Here's all you need to know about the SME IPO of Mobilise App Lab.
Mobilise App Lab IPO GMP Today
According to InvestorGain, the GMP for the Mobilise App Lab IPO stood at Rs 16 on Feb. 23. The latest GMP hints at an estimated listing price of Rs 96 apiece compared to the upper limit of the issue price of Rs 80. Shares of the company are expected to be listed at a premium of 20%, as per the latest GMP.
Note: GMP does not represent official data and is based on speculation.
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Mobilise App Lab IPO: Key Details
The Mobilise App Lab IPO is a book build issue worth Rs 20.10 crore. It comprises only a fresh issuance of 25 lakh shares.
The price band for the IPO has been fixed between Rs 75 and Rs 80 per share.
The NSE SME issue received bids for 20,88,000 shares compared to 17,98,400 on offer, leading to an overall subscription of 1.16 times so far on Day 1.
Retail investors can participate in the IPO by bidding for two lots comprising a total of 3,200 shares, amounting to a minimum investment of Rs 2,56,000. High net worth individuals (HNIs) need to bid for three lots, requiring an investment of Rs 3,84,000.
The IPO share allotment is expected to be finalised on Feb. 26. The company will transfer shares to the demat accounts of successful bidders on Feb. 27 and refunds to non-allottees will be done on the same day.
The shares of the company are scheduled to list on the NSE SME platform on March 2.
Corporate Capitalventures Ltd. is the book running lead manager and Bigshare Services Ltd. is the registrar of the issue. SS Corporate Securities Ltd. is the market maker of the company.
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Use Of Proceeds
The company will use proceeds from the IPO to fund product development through talent hiring, business development and marketing activities, infrastructure and for general corporate purposes.
About Mobilise App Lab
Mobilise App Lab provides IT solutions to its clients. It was founded in 2012. The company offers innovative, scalable and secure IT products for the digital transformation of businesses.
Financials
The company reported a 52% year-on-year (YoY) increase in standalone profit after tax (PAT) to Rs 4.71 crore in FY25 from Rs 3.1 crore in FY24. Revenue from operations grew 33.8% YoY to Rs 16.14 crore in FY25 compared to Rs 12.06 crore in the preceding financial year.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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