Mobilise App Lab IPO opens with ₹20.10 crore issue and flat GMP trend

The initial public offering of Mobilise App Lab Limited is set to open for subscription on February 23, 2026. The company is launching a Book Built Issue worth ₹20.10 crore, entirely comprising a fresh issue of equity shares. The IPO will close on February 25, 2026, and the shares are expected to list on the NSE SME platform on or about March 2, 2026.

Unlike many SME IPOs that witness high Grey Market Premium activity, Mobilise App Lab’s IPO is currently indicating a Grey Market Premium (GMP) of ₹0, reflecting neutral market sentiment. This makes it important for investors to focus more on fundamentals rather than speculative listing expectations.

This article provides a detailed overview of the company, IPO structure, financial positioning, valuation metrics, industry outlook, risks, and investment considerations.

About Mobilise App Lab Limited

Mobilise App Lab Limited is a technology-driven company engaged in providing:

• Digital transformation solutions

• Enterprise mobility services

• Custom software development

• IT consulting services

• System integration

• Ongoing maintenance and support

The company earns revenue primarily from:

• Software development contracts

• Enterprise application development

• System integration projects

• Maintenance and recurring service agreements

Its solutions are designed to help corporates and enterprises:

• Improve operational efficiency

• Enhance customer engagement

• Strengthen digital capabilities

• Optimise internal processes

The company operates in the growing IT services and digital transformation sector, which continues to expand due to increasing digital adoption across industries.

IPO Structure and Key Details

The Mobilise App Lab IPO is structured as a Book Built Issue and consists entirely of a fresh issue of shares.

Issue Highlights

• Issue Size: ₹20.10 crore

• Fresh Issue: 0.25 crore equity shares

• Price Band: ₹75 to ₹80 per share

• Market Capitalisation at ₹80: ₹76.10 crore

• Lot Size: 1,600 shares

• Exchange: NSE SME

Since the IPO is entirely a fresh issue, the proceeds will go to the company to support growth and operational requirements.

Important Dates

• IPO Opening Date: February 23, 2026

• IPO Closing Date: February 25, 2026

• Allotment Finalisation: February 26, 2026

• Tentative Listing Date: March 2, 2026

The shares will be listed on the NSE SME platform, which generally has lower liquidity compared to the mainboard.

Minimum Investment Requirement

The IPO has a relatively high entry threshold due to the SME structure.

• Retail Investors: Minimum 2 lots

  • 3,200 shares

  • ₹2,56,000 at upper price band

• High Net Worth Individuals (HNIs): Minimum 3 lots

  • 4,800 shares

  • ₹3,84,000

This makes the IPO suitable primarily for investors with a higher capital allocation capacity.

Grey Market Premium Analysis

The current Grey Market Premium is ₹0, indicating neutral sentiment.

This suggests:

• No strong speculative demand

• Limited expectation of listing gains

• Balanced demand-supply in unofficial markets

It is important to understand that:

• GMP is unofficial and unregulated

• It is based on informal trading

• It does not reflect official valuation

• It can change before listing

A flat GMP may indicate cautious investor sentiment, especially in the SME IT services segment.

Industry Overview: Digital Transformation and IT Services

India’s IT services sector remains one of the strongest contributors to the economy. Key drivers include:

• Rising enterprise digitalisation

• Cloud adoption

• Mobile application development

• Automation and AI integration

• Demand for custom enterprise solutions

Small and mid-sized IT companies are increasingly catering to niche client segments and specialised services.

Digital transformation projects are now essential rather than optional for businesses. Companies are

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