Mobilise App Lab Ltd. IPO

Mobilise App Lab

• Mobilise App Lab is coming out with an initial public offering (IPO) of 25,12,000 shares in a price band of Rs 75-80 per equity share.
• The issue will open on February 23, 2026 and will close on February 25, 2026.
• The shares will be listed on SME Platform of NSE.
• The face value of the share is Rs 10 and is priced 7.5 times of its face value on the lower side and 8 times on the higher side.
• Book running lead manager to the issue is Corporate CapitalVentures.
• Compliance Officer for the issue is Amit Kumar.

Profile of the company

Mobilise App Lab is an Indian software as a service IT solutions provider offering digital platforms to streamline and manage enterprise operations. Founded in 2013, the company began its journey with EDUPro Enterprise Resource Planning (ERP), a solution designed to help schools, colleges, and training institutes manage functions such as admissions, attendance, fees, examinations, transportation, and academics. In 2016-17, the company developed a Computerized Maintenance Management System (CMMS), which was later branded as OpsSuite ERP. This solution enables businesses to efficiently manage and maintain physical assets, handle work orders, track equipment and asset history, monitor inventory levels, and schedule preventive maintenance and calibration. The OpsSuite ERP solution has been implemented across multiple states in India, providing functionalities such as asset tracking, complaint redressal, and supplier management. Additionally, the OpsSuite platform is being used by multiple industries across Healthcare, Food & Beverages, Facility Maintenance, etc. supporting their operational and maintenance needs.

In 2017-18 the company also launched SCMPro ERP, a comprehensive solution for managing the entire supply chain. It effectively integrates and manages two key processes: Source-to-Contract (S2C), which covers supplier discovery, sourcing, negotiations, contract creation, supplier management, and contract lifecycle management; and Procure-to-Pay (P2P), which includes purchase requests, purchase orders, goods receipt notes (GRNs), invoice processing, and payments. Later in the year 2019-20 the company also launched an ERP solution for Human Resources called HRevO, designed to simplify and streamline workforce management throughout the employee lifecycle. Key features include talent acquisition, employee records management, payroll and expense tracking, talent development, and people analytics.

The company provides its ERP solutions to B2B clients who further deliver services to its end customers, rather than selling directly to individual users. The company is powered by a skilled and versatile team with a deep understanding of client needs. The team includes Product Architects, Solution Engineers, and Full-stack Developers experienced in modern technologies like Angular, React, Laravel, Node.js, Python, PHP, and .NET. Cloud and DevOps engineers handle smooth deployments and secure infrastructure.

Proceed is being used for:

• Funding requirement in product development through talent Hiring for the company
• Funding requirement toward business development and marketing activities aimed at driving the organization’s expansion across domestic market
• Funding towards the infrastructure of the company
• General corporate purpose

Industry overview

The IT-BPM (Information Technology- Business Process Management) industry in India has demonstrated consistent and resilient growth over the past three years, driven by strong global demand for digital transformation, cloud computing, data analytics, and AI-enabled services. Despite macroeconomic uncertainties, the sector has maintained a positive trajectory, supported by its adaptability, diversified service offerings, and a growing focus on value-added capabilities. FY 2025 is estimated to continue this upward momentum, with increased client spending on next-gen technologies, expansion into new verticals, and rising demand from global enterprises seeking costefficient, innovation-led solutions.

The projected growth of the Indian IT-BPM industry revenue from FY 2024 to FY 2030 in USD billion. Starting at $254.0 billion in FY 2024, the revenue is expected to grow steadily, reaching $282.6 billion in FY 2025 and $300 billion by FY 2026. This positive trend reflects the sector's continued expansion, driven by digital transformation, rising global outsourcing demand, and increasing investments in cloud, AI, and cybersecurity technologies. The CAGR (Compound Annual Growth Rate) is marked at 5.5%, indicating a healthy and consistent pace of industry development. 

Looking further ahead, the industry is projected to generate $308.0 billion in FY 2027, $320.0 billion in FY 2028, $335.0 billion in FY 2029, and ultimately reach $350.0 billion by FY 2030. The progressive increments highlight the resilience and global competitiveness of India's IT-BPM sector. Contributing factors include the rise of Software as a Service (SaaS), global capability centres (GCCs), and government policies supporting digital public infrastructure and innovation. This consistent upward trajectory underlines the IT- BPM industry's critical role in India’s economic growth and its strategic importance in the global digital economy.

Pros and strengths

Understanding client’s unique needs: At Mobilise, it understands that every organization has distinct challenges and goals. That’s why it specializes in developing SaaS-based solutions that are not only powerful but also highly customizable-designed to align with clients’ specific operational needs. Whether the client is engaged in the sector of healthcare, education, facility management, or human resources, its modular and scalable platforms simplify complex processes such as asset and maintenance management (CMMS/iFMS), procurement and supply chain automation, HR management (HRMS), and educational ERP systems for schools and universities.

Long-standing client relationships: It has established long-standing relationships with its clients through the execution of software license-cum-service agreements for its ERP solutions. A significant portion of its revenue is derived from repeat business with its existing customers, highlighting the strength and continuity of these partnerships. These enduring relationships have not only contributed to consistent revenue growth from its current clients but have also facilitated the expansion of its customer base through referrals and increased credibility. Furthermore, its ability to cross-sell other products and services to its existing clients enhances overall customer lifetime value and contributes positively to its profitability. This track record of customer retention and cross-selling reflects its commitment to delivering value and maintaining client satisfaction over the long term.

Quality assurance and quality certification: The company operates under internationally recognized standards, ensuring quality, security, and structured development practices, it adopts an agile development methodology with data security embedded at the core of its system architecture. All its solutions are built in alignment with Role-Based Access Control (RBAC) principles to ensure secure and controlled access. All software products developed by Mobilise are cloud-enabled, hosted on Microsoft Azure, and are GDPR compliant, consistently achieving high ratings on clients’ IT security evaluations. It is an ISO 9001:2008, ISO 27001:2002 and CMMI Maturity Level 3 certified company.

Risks and concerns

Dependence on limited number of customers: The company is engaged in providing IT Solutions, ERP Implementation and provide web, mobile and IoT applications. At present, the majority of its revenue from operations is concentrated towards a limited number of customers. Revenue from the top ten customers accounted for 94.08% for the period ended December 31, 2025, and 97.39%, 98.91%, and 96.15% for the periods ended March 31, 2025, March 31, 2024, and March 31, 2023, respectively. Substantial portion of its revenues has been dependent upon few clients (Top 10). The loss of any one or more of its major clients would have a material effect on its business operations and profitability.

Risk related to attrition of key IT personnel: Its success depends largely on the work of its IT professionals, its promoters, directors and senior management, its ability to attract and retain qualified IT professionals. It may face high attrition rates in the future. A significant increase in the attrition rate among skilled IT professionals with specialised skills could decrease its operating efficiency and productivity and could lead to a decline in demand for its software products. The competition for highly-skilled IT professionals may require it to increase salaries, and it may be unable to pass on these increased costs to its customers. This would increase its operational costs which may adversely affect its business, results of operations and financial condition.

Dependence on HRevO product for revenue: Substantial portion of its revenues has been dependent upon its software product i.e. HRevO. Revenue from the HRevO product accounted for 48.52% of total revenue for the period ended December 31, 2025, and 52.79%, 61.32%, and 41.07% for the periods ended March 31, 2025, March 31, 2024, and March 31, 2023, respectively. The loss of any one or more of its major clients would have a material effect on its business operations and profitability.

Outlook

Mobilise App Lab is a technology-driven company with an expertise in web, mobile, and IT applications. The company provides its ERP solutions to B2B clients who further deliver services to its end customers, rather than selling directly to individual users. The company is powered by a skilled and versatile team with a deep understanding of client needs. On the concern side, the company operates in the highly competitive ERP solutions sector, which is characterized by the presence of both organized players, including large domestic and international technology companies, and a significant number of unorganized players. Many of these unorganized players operate at relatively lower cost structures and offer products and services at more economical price points, primarily targeting cost-sensitive customers. Their ability to deliver low-cost solutions and attract customers who prioritize pricing over product reliability or scalability may adversely impact its market share, margins, and pricing flexibility.

The company is coming out with a maiden IPO of 25,12,000 equity shares of face value of Rs 10 each. The issue has been offered in a price band of Rs 75-80 per equity share. The aggregate size of the offer is around Rs 18.84 crore to Rs 20.10 crore based on lower and upper price band respectively. On performance front, revenue from operations increased significantly by 33.88% from Rs 1,205.60 lakh in Fiscal 2024 to Rs 1,614.09 lakh in Fiscal 2025. The company reported a net profit of Rs 471.33 lakh in FY 2024-25 which is increased by 52.02% as compared to a net profit of Rs 310.05 lakh in FY 2023-24.

Meanwhile, the company has already taken several concrete steps. First, a detailed portfolio unification plan has been defined, which focuses on upgrading and combining its existing products into a single, easy-to-use solution. This approach helps reduce overlap, improve performance, and makes marketing, support, and scaling much simpler. On the technology side, the company has established a strong foundation for quality and security. All products are developed using agile practices with role-based access control (RBAC), hosted on Microsoft Azure, and aligned with GDPR requirements. Certifications such as ISO 9001, ISO 27001, CMMI L3, and regular CERT-In VAPT audits ensure that security and quality standards are consistently maintained across all modules. These measures make it safer and easier to consolidate different products into a unified platform.

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, Tatva Chintan Pharma Chem has informed that it enclosed the transcript of the earnings call held on 16 May 2026 post announcement of financial results of the Company for the quarter and financial year ended 31 March 2026. The above information shall be made available on Company’s website of at www.tatvachintan.com.

The above information is a part of company’s filings submitted to BSE.