Mobilise App Lab Limited has successfully concluded its three-day bidding window for its 20.10 crore SME IPO, witnessing significant momentum on the final day of subscription. The issue, which was open from February 23 to February 25, 2026, closed with a total subscription of approximately 13 times. Demand was led by Non-Institutional Investors (NII) at 20 times and Retail Investors at 17 times, signaling strong confidence in the company’s SaaS-based business model. Shares were offered in a price band of 75 to 80 per share. With the upper price band fixed at 80, the Grey Market Premium (GMP) has been fluctuating between 8 and 16 per share. This suggests a potential listing price in the range of 88 to 96, representing a possible gain of up to 20% for successful allottees. The company operates a B2B Software-as-a-Service model, specializing in ERP platforms for education, healthcare, and supply chain management. Financial performance highlights a robust trajectory, with revenue growing from 12.06 crore in FY24 to 16.14 crore in FY25. Profitability remains a key highlight for investors. The firm reported a Profit After Tax (PAT) of 4.71 crore in FY25, maintaining a healthy net margin of 29%. For the nine months ending December 2025, the company has already clocked 4.01 crore in profit with an improved EBITDA margin of 48.34%. Proceeds from the 100% fresh issue will be strategically deployed to fuel future growth. Approximately 5.54 crore is earmarked for product development and talent acquisition, while 5.47 crore will fund infrastructure upgrades. Another 3.03 crore is set aside for business development and marketing. While the company shows strong growth, investors are tracking high revenue concentration, as the top 10 clients currently account for over 94% of total income. Additionally, a significant portion of business is currently localized within Maharashtra. The allotment of shares is expected to be finalized on February 26, 2026. Following the credit of shares to demat accounts, the company is scheduled to make its debut on the NSE Emerge platform on March 2, 2026. This listing comes at a time of high activity in the SME segment, with several other issues like Kiaasa Retail and Accord Transformer also competing for liquidity. Mobilise App Lab’s lean, debt-free balance sheet and scalable digital architecture position it as a notable player in the expanding Indian enterprise tech space.