Mobilise App Lab IPO GMP Today, Date, Price & Review 2026
Mobilise App Lab IPO GMP, Date, Price, Review & Complete Analysis (2026)
The IT and SaaS sector in India continues to attract investor attention, especially in the SME segment. Mobilise App Lab Limited is the latest entrant aiming to raise capital through the SME exchange. The company specializes in enterprise software solutions and promotes its core HR and resource management platform — HRevO.
At first glance, the company’s financial growth appears impressive. Revenue has grown sharply. Profit margins look strong. Net worth has expanded significantly.
However, a deeper reading of the Red Herring Prospectus (RHP) reveals significant client and geographic concentration risks.
So, is the mobilise app lab ipo a scalable SaaS opportunity or a high-risk SME concentration play?
Quick Summary
- IPO Type: Book Built Issue (SME)
- Price Band: ₹75 – ₹80 per share
- Issue Size: 25,12,000 shares
- GMP (20-02-2026): ₹0
- Revenue FY25: ₹16.14 Cr
- PAT FY25: ₹4.71 Cr
- Top 10 Clients Contribution: 94%+
- Major Risk: Extreme client & geographic concentration
The Cheat Sheet: Mobilise App Lab IPO Details
This is a 100% Fresh Issue, meaning the funds raised go directly into the company — promoters are not selling shares.
Mobilise App Lab IPO GMP (Grey Market Premium)
The mobilise app lab ipo GMP has witnessed a sharp correction.
- Current GMP (20-02-2026): ₹0
- Estimated Listing Premium: 0%
GMP Trend Breakdown:
- ₹13 (17th–18th Feb)
- ₹5 (19th Feb)
- ₹0 (20th Feb)
The falling mobilise app lab limited ipo GMP suggests declining speculative interest in the grey market.
What Does This Mean?
- Investors may feel the IPO is fully priced.
- Concentration risks are influencing sentiment.
- SME liquidity concerns may limit listing pop.
Important: GMP is unofficial and speculative. It indicates listing sentiment, not long-term fundamentals.
About Mobilise App Lab Limited
Mobilise App Lab Limited operates in the enterprise IT services and SaaS domain.
Core Business Areas:
- Custom enterprise software development
- B2B IT solutions
- HR digitization tools
- Workforce resource management systems
Flagship Product: HRevO
The company’s main revenue driver is HRevO, an HR and resource management SaaS platform.
HRevO enables businesses to:
- Manage HR workflows
- Track employee productivity
- Digitize HR operations
- Improve workforce efficiency
The business model is essentially a B2B SaaS + IT services hybrid structure.
Business Model Analysis: Strength with Dependency
While owning proprietary software is a positive sign, there are concentration concerns.
A substantial portion of revenue is driven by:
- One primary product (HRevO)
- A small set of enterprise clients
- A single dominant state market
If a larger HR-tech competitor enters aggressively or undercuts pricing, revenue stability could be impacted.
The business is scalable — but currently narrow.
Financial Performance: Strong Growth on a Small Base
(₹ in Crores)
Key Financial Highlights
Revenue Growth
Revenue grew from ₹6.94 Cr (FY23) to ₹16.14 Cr (FY25) — more than doubling in two years.
Profitability
PAT margin in FY25:₹4.71 Cr ÷ ₹16.14 Cr ≈ 29%
A 29% net margin is strong for a software SME.
Momentum
In 9 months of FY26, profit already stands at ₹4.01 Cr, indicating continued performance stability.
However, high margins must be evaluated alongside concentration risk.
Revenue Concentration Risk (Major Red Flag)
Revenue from Top 10 Clients:
- FY24: 98.92%
- FY25: 97.39%
- Dec 2025: 94.08%
Over 94% of revenue comes from just 10 clients.
This is the biggest risk in the mobilise app lab limited ipo.
If 2–3 large clients exit:
- Revenue may drop significantly
- Profit margins may compress
- Business valuation could decline
Geographic Concentration
Revenue from Maharashtra:
- 71.80% (FY24)
- 68.35% (FY25)
The company is heavily dependent on one state.
They are not yet a diversified pan-India SaaS provider.
Product Concentration
HRevO contributes a substantial portion of revenue.
Risks include:
- Larger SaaS players offering bundled HR solutions
- AI-based HR automation tools replacing basic systems
- Pricing pressure from funded competitors
Intangible Asset & Tech Risk
As a software-driven company, value depends on:
- Continuous innovation
- Cybersecurity protection
- Platform updates
- Technology relevance
Rapid AI evolution in HR tech may disrupt traditional HR SaaS models.
Where Will IPO Funds Be Used?
Since this is a 100% Fresh Issue, capital raised will go into:
- Geographic Expansion
- Client Diversification
- Business Scaling
- General Corporate Purposes
The company explicitly aims to reduce geographic concentration using IPO proceeds.
Valuation Perspective
IT and SaaS companies often trade at premium multiples due to scalability and margin strength.
However, valuation should factor in:
- Revenue diversification
- Client stability
- Competitive moat
- SME liquidity risk
The current GMP at ₹0 reflects cautious short-term expectations.
Bull vs Bear Case
Bull Case
- 29% PAT margin
- Consistent growth
- Profitable SME SaaS business
- Fresh issue funds for expansion
- Promoters retaining ownership
If client diversification succeeds, scalability improves.
Bear Case
- 94% revenue from Top 10 clients
- 68%+ revenue from one state
- Heavy reliance on HRevO
- SME liquidity and volatility risk
One lost contract can significantly impact earnings.
Should You Apply?
The mobilise app lab ipo suits:
✔ High-risk SME investors✔ Investors comfortable with concentration exposure✔ Those bullish on niche SaaS expansion
Not suitable for conservative investors seeking diversified revenue models.
For IPO applications and seamless SME access, investors often prefer tech-first trading platforms that offer flat brokerage models, fast IPO processing, and advanced charting tools.
One such SEBI-registered discount broker is Firstock, a Bangalore-based trading platform offering:
- Zero brokerage on equity delivery
- Flat ₹20 per order on intraday & F&O
- Access to IPOs, ETFs, mutual funds
- Advanced trading tools
Platforms like Firstock - Option Trading App simplify IPO investing and active trading through their web and mobile apps, especially for retail participants exploring SME opportunities.
Final Verdict
Mobilise App Lab Limited is profitable, growing, and operationally efficient.
But it remains:
- A boutique SaaS company
- Serving a limited client base
- Concentrated in one primary state
- Dependent heavily on one core product
The opportunity exists if expansion succeeds.
The risk exists if client churn occurs.
In SME IPOs, disciplined allocation matters more than excitement.
FAQs
1. What is the mobilise app lab ipo open date?
The IPO opens on February 23, 2026 and closes on February 25, 2026.
2. What is the mobilise app lab ipo GMP today?
As of 20-02-2026, the GMP is ₹0.
3. Is mobilise app lab limited ipo a Fresh Issue?
Yes, it is a 100% Fresh Issue.
4. What does mobilise app lab limited do?
It is a B2B SaaS and IT services company focused on HR and enterprise digitization software.
5. What is the biggest risk in mobilise app lab limited ipo?
Over 94% revenue comes from Top 10 clients and over 68% from Maharashtra.
6. What is the price band of mobilise app lab ipo?
₹75 to ₹80 per share.
7. Where will the shares list?
On the SME platform (BSE/NSE Emerge).
8. What are the FY25 revenues of mobilise app lab limited?
₹16.14 Crores.
9. What is the FY25 profit?
₹4.71 Crores.
10. Is mobilise app lab ipo suitable for long-term investors?
Only if diversification improves and client concentration reduces.
11. Why has mobilise app lab ipo GMP fallen to zero?
Grey market participants may be factoring in valuation concerns and revenue concentration risks.
12. Is this IPO high risk?
Yes, due to client concentration and SME listing nature.
Disclaimer: Investments in the securities market are subject to market risks. Read all related documents carefully before investing.Source: Red Herring Prospectus (RHP) of Mobilise App Lab Limited.
