Mobilise App Lab IPO Share Allotment: What Investors Need to Know and How to Check Status

Mobilise App Lab IPO Conclusion

The initial public offering (IPO) of Mobilise App Lab, a software as a service IT solutions provider, concluded on Wednesday, February 25 with a strong subscription of 100 times. The focus is now on the share allotment, which is expected to be finalized on Thursday, February 26.

IPO Details

The SME IPO was a fresh issue of 25,12,000 shares, raising ₹20.10 crore at a price band of ₹75 to ₹80 per share. The retail segment was subscribed 96 times, while the non-institutional investors (NIIs) segment subscribed 175 times.

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Listing and Share Allotment

After the share allotment is finalized, successful bidders can expect shares to be credited to their demat accounts on Friday, February 27. Those who fail to get the allotment will receive a refund on the same day. The stock is expected to list on the NSE SME on Monday, March 2.

Grey Market Premium

Grey market sources indicate that the stock may make a modest debut on the NSE SME. The grey market premium (GMP) on Thursday morning was ₹7, suggesting that the stock may list at ₹87, a premium of nearly 9% over the issue price.

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Checking Allotment Status

Investors can check the share allotment status online on the registrar's website or on the official websites of the NSE. The official registrar, Bigshare Services Private Limited, will provide the allotment status online.