NewsMopshop Distribution IPO Day 3: Issue subscribed 1.27x so far. Check issue details and key datesMopshop Distribution IPO Day 3: Issue subscribed 1.27x so far. Check issue details and key dates
Mopshop Distribution IPO closed with 1.27x overall subscription, driven by 2.35x retail interest. QIB and NII categories remained unsubscribed. The company reported FY25 revenue of ₹41.99 crores and PAT of ₹3.48 crores. Proceeds will fund debt repayment and logistics expansion. Listing is scheduled for 26-08-2026.
*this image is generated using AI for illustrative purposes only.
Mopshop Distribution Limited’s IPO has closed its book-building window with an overall subscription of 1.27x. The issue witnessed significant interest from the Retail category, which oversubscribed by 2.35x, driving the total demand. In contrast, Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII) showed minimal participation, with both categories remaining below the 1x threshold. The IPO was priced at a fixed price of ₹138.00000.
Final Subscription Status
The subscription momentum was driven almost entirely by retail investors. Here is the day-wise progression of the subscription:
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 18-08-2026 | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Day 2 | 19-08-2026 | 0.00x | 0.00x | 0.07x | 1.41x | 0.76x |
| Day 3 | 20-08-2026 | 0.00x | 0.00x | 0.07x | 2.07x | 1.12x |
| Day 4 | 21-08-2026 | 0.00x | 0.00x | 0.07x | 2.35x | 1.27x |
Intra-day timeline on 21-08-2026
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 05:45 | 0.00x | 0.00x | 2.35x | 1.27x |
Category-wise Breakdown
- QIB: 0 x
- NII (bHNI): 0.07 x
- NII (sHNI): 0 x
- Retail: 2.35 x
- Employees: 0 x
- Overall: 1.27 x
The Retail category was the sole driver of oversubscription, ticking up significantly from 1.41x on Day 2 to 2.35x by the close of Day 4. Institutional interest remained absent throughout the process.
About the Company
Mopshop Distribution Limited is a facility management supplies company incorporated in 2018 and headquartered in Vasai, Maharashtra. Operating through a B2B model, it provides cleaning tools and hygiene consumables to over 300 clients across BFSI, construction, healthcare, and facility management sectors. The company utilizes a customized digital infrastructure for order management and operates warehouses in 7 cities with a capacity of around 20,000 sq. ft. Key promoters include Prakash Hakim Singh (MD) and Bunty Hakim Singh Gaur (CEO).
Financial Highlights
The company has shown consistent revenue growth over the last three years. Total equity has 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 |
Revenue from operations grew from ₹30.02 crores in FY23 to ₹41.99 crores in FY25. Similarly, PAT increased from ₹0.81 crores to ₹3.48 crores over the same period.
Objects of the Issue
The net proceeds from the IPO will be utilized for the following purposes:
- Repayment of outstanding borrowings from Bank of India: ₹11.50 crores
- Purchase of commercial vehicles for transportation: ₹2.21 crores
- Setting up rooftop grid solar power plant: ₹1.05 crores
- General corporate purposes: Balance net proceeds
- Offer related expenses: Portion of net proceeds
Risk Factors
- Customer Dependency: Top 5 clients contributed 27.65% of revenue in FY25, posing concentration risk.
- Geographic Concentration: Maharashtra contributed 66.77% of total revenue in FY25.
- Working Capital Intensity: The business requires substantial working capital for inventory, leading to negative operating cash flows in FY23 and FY24.
What's Next
- Allotment Date: 24-08-2026
- Listing Date: 26-08-2026
- Basis of Allotment: Since the issue is oversubscribed, allotment will be made on a pro-rata basis or through lottery as per SEBI guidelines. Investors can check their application status on the registrar’s website after the allotment date.
How might the complete absence of QIB participation impact Mopshop's liquidity and price stability in the initial weeks post-listing?
Given the heavy reliance on retail investors, what is the likely probability of the stock listing at a premium or discount to the issue price of ₹138?
Will the planned repayment of ₹11.50 crores in bank debt significantly improve the company's operating cash flows, which have been negative in recent years?
19
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
