Mobilise App Lab files DRHP to raise equity via SME IPO on NSE Emerge

New Delhi, Sep 2, 2025 – Mobilise App Lab Limited (proposed listing on NSE Emerge) has submitted its Draft Red Herring Prospectus in a bid to raise funds through a new issue of 25,12,000 equity shares. Mobilise App Lab Limited is a SaaS and enterprise software company catering to HR, facility and asset management, supply chain, and education segments. The firm intends to list on NSE Emerge and has no offer for sale in this issue.

The Gurugram-headquartered SaaS and enterprise software company intends to use proceeds for hiring for product development, sales and marketing growth, and infrastructure strengthening, and the remainder for general corporate objectives. This is entirely a fresh issue, with no OFS, and the equity is being sought to be listed on the NSE Emerge.

Offer Snapshot

The IPO comprises a completely fresh issue of 25,12,000 equity shares with a market maker reserve portion of 1,26,000 shares. After the issue, the equity base of the company will get enhanced to 95,12,000 shares compared to the existing 70,00,000 shares. The issue will be listed on the NSE Emerge exchange.

The promoters of the company are Mr. Ashish Sharma, Mrs. Smriti Sharma, and Dr. Manish Sharma. Corporate CapitalVentures Pvt Ltd is acting as the Book Running Lead Manager (BRLM), and Bigshare Services Pvt Ltd is also appointed as the registrar to the issue.

Objects of the Issue

The proceeds of the IPO will be used by the company to invest in growth areas. Approximately ₹554.43 lakh will be used in product development by way of talent acquisition, and ₹303.28 lakh will be used for business development and marketing purposes. Investments amounting to approximately ₹469.44 lakh are proposed to be made in infrastructure, security, cloud, devices, and connectivity improvements. The rest will be used for general corporate purposes, the details of which will be decided in the Red Herring Prospectus (RHP).

Financial Highlights (Standalone)

The three-year consistent growth of the company is evident from its operational revenues, which more than doubled from ₹694.51 lakh in FY23 to ₹1,614.09 lakh in FY25. EBITDA also increased sharply to ₹692.47 lakh with improved margin levels, from 33.16% in FY23 to 42.90% in FY25, reflecting better operating efficiency. Profit after tax increased steadily, from ₹176.19 lakh to ₹471.33 lakh, and PAT margins expanded to 29.20%. On the balance sheet, net worth quadrupled, touching ₹826.10 lakh in FY25 from ₹206.50 lakh in FY23, indicating a healthier financial standing.

Revenue Mix by Product

Revenue mix of the company for the last three years shows consistent growth in most of its products. HRevO (HRMS) has continued to be the top contributor, growing from ₹285.25 lakh in FY23 to ₹852.13 lakh in FY25. OpsSuite (CMMS) was also a strong performer, growing over two times to ₹479.73 lakh in FY25 from ₹175.61 lakh in FY23. SCMPro (Supply Chain) revenues grew gradually from ₹142.92 lakh to ₹219.47 lakh in the same period. Conversely, EduPro (Education ERP) decreased, falling from ₹90.73 lakh in FY23 to ₹62.76 lakh in FY25. Revenues in total increased from ₹694.51 lakh in FY23 to ₹1,614.09 lakh in FY25.

Shareholding and Capital

Prior to the IPO, the company had 70,00,000 paid-up equity shares outstanding. After the issue, this figure will increase to 95,12,000 shares, accounting for new equity raised through the fresh issue. The promoter group now holds 96% of pre-issue equity, with the revised post-issue holding being made known in the Red Herring Prospectus (RHP).

*Post-issue holding will depend on final pricing and allocation.

Segment and Operations

Mobilise offers four solutions: HRevO for HR and payroll, OpsSuite for asset and maintenance management with IoT integrations, SCMPro for source-to-contract and procure-to-pay, and EduPro for school ERP. Interestingly, OpsSuite supports large-scale biomedical asset tracking and preventive maintenance initiatives, and HRevO processes data for over 4 lakh employees worldwide.

Key Risk Disclosures

• Customer concentration: High proportion of revenues contributed by top customers.
• Geographic concentration: A large chunk of sales is from Maharashtra.
• IP status: Certain trademarks are sought to be applied for and pending.
• Compliance history: Case of delayed GST, TDS, and Companies Act filings in earlier periods.
• Related party arrangements: Certain lease agreements and loans with promoters at non-arm’s-length terms.

Strategic Outlook

Proceeds are aimed at hiring for product and AI positions, building a go-to-market strategy in key metros in a disciplined manner, and making infrastructure improvements, including cloud capacity, security stack, MPLS links, and developer hardware. Management’s attention is on scaling recurring SaaS revenues, expanding margin mix, and increasing institutional client coverage on the Emerge listing.

Before and After Comparison

Post-IPO, there will be a definite change in the shareholding pattern of the company. The equity base will rise from 70,00,000 to 95,12,000 shares, widening the outstanding share base. This will also mean an increased free float, as necessary under SME listing rules, making the stock more liquid in the market than in its pre-issue form.

*Illustrative. Exact post-issue metrics will be finalised in the RHP and basis of allotment.

Note: Price band, bid lot, anchor participation, and timeline will be finalised in the RHP and communicated by the issuer and BRLM.

REF: https://nsearchives.nseindia.com/emerge/corporates/content/Registration_01092025194234_DRHP_Mobilise.pdf

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations