Mopshop Distribution IPO Day 2 Live: Retail jumps 70%, total at 0.26x

Mopshop Distribution IPO Day 2 Live: Retail jumps 70%, total at 0.26x - Check analysts view and more

2 min read Updated on 19 Aug 2026, 12:22 PM

Reviewed by

Ritika DScanX News Team

AI Summary

Mopshop Distribution IPO Day 2 saw Retail subscription surge 70% to 0.51x, pushing total subscription to 0.26x. QIB and NII categories remain at 0x. The company reported FY25 revenue of ₹41.99 crores and PAT of ₹3.48 crores. The IPO closes on August 21, 2026.

*this image is generated using AI for illustrative purposes only.

Mopshop Distribution’s initial public offering entered its second day of trading on August 19, 2026, witnessing a sharp uptick in retail investor interest. While the issue remains modestly subscribed overall at 0.26x, the Retail category surged by 70% intraday, moving from 0.30x to 0.51x. Institutional investors, including Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs), have yet to show any interest, leaving the issue far from fully subscribed.

Subscription Status

The momentum on Day 2 was driven almost entirely by retail participants. The total subscription ticked up by 62.5% during the day, rising from 0.16x to 0.26x. Despite this late-day rally in the Retail segment, the lack of institutional backing means the IPO is still seeking substantial demand.

Category	Day 1 (18-08-2026)	Day 2 (19-08-2026)
QIB	0.00x	0.00x
NII (bHNI)	0.00x	0.00x
NII (sHNI)	0.00x	0.00x
Retail	0.00x	0.51x
Total	0.00x	0.26x

Intra-day timeline on 19-08-2026

Time (IST)	QIB	NII (bHNI)	Retail	Total
05:45	0.00x	0.00x	0.30x	0.16x
06:45	0.00x	0.00x	0.51x	0.26x

Momentum highlights

Retail: Jumped +70.0% today (from 0.30x to 0.51x)
Total: Jumped +62.5% today (from 0.16x to 0.26x)
QIB & NII: Remained flat at 0.00x

About the Company

Mopshop Distribution Limited, incorporated in 2018 and headquartered in Vasai, Maharashtra, is a facility management supplies company. It operates through a B2B model, providing cleaning tools and hygiene consumables to over 300 clients across BFSI, construction, healthcare, and facility management sectors. Led by MD Prakash Hakim Singh and CEO Bunty Hakim Singh Gaur, the company utilizes a customized digital infrastructure for order management and operates warehouses in 7 cities.

Financial Highlights

Mopshop Distribution has shown consistent revenue growth over the last three years. Total equity also expanded significantly, reflecting retained earnings and capital infusion.

Particulars	FY 2025 (₹ crores)	FY 2024 (₹ crores)	FY 2023 (₹ crores)
Revenue from Operations	41.99	37.85	30.02
Profit After Tax	3.48	1.42	0.81
Total Equity	6.74	2.92	1.25

Objects of the Issue

Repayment of outstanding borrowings from Bank of India: ₹11.50 crores
Purchase of commercial vehicles for logistics: ₹2.21 crores
Setting up rooftop grid solar power plant: ₹1.05 crores
General corporate purposes and offer-related expenses: Balance proceeds

Risk Factors

Customer concentration risk with top 5 clients contributing 27.65% of revenue.
Geographic concentration with Maharashtra contributing 66.77% of total revenue.
Working capital intensive operations leading to negative operating cash flows in past years.

Offer Details

Price Band: ₹138.00000 - ₹138.00000
Issue Size: ₹276000 - ₹500000
Lot Size: 2000 shares
IPO Dates: Opened on 2026-08-19, closes on 2026-08-21
Allotment Date: 2026-08-24
Listing Date: 2026-08-26

Will the complete lack of QIB and NII interest signal underlying valuation concerns that could lead to the IPO being withdrawn or downgraded?

How might Mopshop's heavy reliance on Maharashtra (66.77% of revenue) impact its ability to attract institutional investors seeking geographic diversification?

Given the working capital intensive nature of the business, will the proceeds from this IPO be sufficient to resolve negative operating cash flows without further dilution?