Mopshop Distribution Limited operates as a business-to-business distributor of household cleaning tools, facility management products, and hygiene consumables.
The company serves a network of corporate and banking clients across multiple locations in India through an asset-light procurement model.
The Mopshop Distribution IPO opens for public subscription on August 19, 2026, and closes on August 21, 2026, with the enterprise aiming to raise up to ₹27.26 crore through a combination of a fresh issue and an Offer for Sale by the promoter.
The fixed issue price for this BSE SME offering has been set at ₹138 per equity share, requiring a minimum retail application of 2,000 shares.
This breakdown covers all essential data for the Mopshop Distribution IPO, including its official price band, current subscription status, important allotment dates, and today's grey market premium.
Briefs of Mopshop Distribution IPO Details
- Price Band: ₹138 per share (Fixed Price)
- IPO Open / Close Dates: 19 August 2026 / 21 August 2026
- Lot Size: 1,000 shares (Minimum retail application of ₹2,76,000 for 2 lots)
- Issue Size: 19,75,000 shares / Up to ₹27.26 crores
- Fresh Issue / OFS: Fresh Issue of 16,00,000 shares / OFS of 3,75,000 shares
- Registrar: Cameo Corporate Services Limited
- Listing Exchange: BSE SME
IPO Reservation
- Face value: ₹10 per share
- Anchor offer: Nil (Not Applicable)
- QIB-shares: Nil (No separate quota; grouped under NIIs)
- NIIs-Shares offered: 9,38,000 Equity Shares (50% of the Net Issue)
- RIIs- Shares offered: 9,38,000 Equity Shares (50% of the Net Issue)
What is the Current Grey Market Premium (GMP) for the Mopshop Distribution Public Offering?
Investors can monitor the grey market premium (GMP) for this and other upcoming public offerings on our dedicated IPO GMP tracking page. For more studies on GMP vs listing performances investor can check our detailed IPO GMP vs Listing Accuracy Study 2026 and GMP vs Listing Gains July 2026 IPOs: A Data Analysis of 34 IPOs in which we had analysed actual listings and GMPs of July 2026 IPOs.
Note that because GMP fluctuates daily according to market demand, it remains an unofficial metric that is not regulated by SEBI, NSE, or BSE.
What are the Key Dates and the Tentative Allotment Calendar for Mopshop Distribution?
- IPO Open & Close Date: 19 August 2026 to 21 August 2026
- Basis of Allotment Date: 24 August 2026
- Refund Initiation Date: 25 August 2026
- Credit of Shares: 25 August 2026
- Listing Date: 26 August 2026
What are the specific objectives outlined for the allocation of the Mopshop Distribution IPO funds?
Proceeds from the new share issuance will be directed by corporate management toward the following core strategic initiatives:
- Debt Repayment: An allocation of ₹11.98 crores is designated to repay its Cash Credit facility with the Bank of India to lower finance costs.
- Logistics Fleet: ₹2.60 crores will be used to purchase commercial trucks and electric vehicles (EV tempos) for delivery schedules.
- Solar Power Plant: ₹1.05 crores is earmarked to install a rooftop grid-connected solar power plant at its primary warehousing facility in Vasai, Maharashtra.
- General Corporate Purposes:The residual net proceeds will fund regular administrative costs and long-term brand equity enhancement.
How is The Financial Performance of Mopshop Distribution ?
The following data presents a financial summary for Mopshop Distribution, with all figures denominated in crores of Rupees.
Period Ended | 28 Feb 26 | 31 Mar 2025 | 31 Mar 24 | 31 Mar 23 |
Total Income | 44.66 | 42.00 | 37.86 | 30.02 |
Profit After Tax | 5.18 | 3.48 | 1.42 | 0.81 |
EBITDA | 7.96 | 6.13 | 2.91 | 1.39 |
Total Borrowing | 12.21 | 5.14 | 6.59 | 3.92 |
Assets | 37.80 | 23.64 | 17.80 | 13.41 |
Source: RHP
Financial Observations
Total Income
The company recorded an increase in its top-line revenue over the observed fiscal periods.
- Total income scaled from ₹30.02 crores in FY23 to ₹44.66 crores in the 11-month stub period ending Feb 2026.
- This growth aligns with expanding sales volumes from corporate and banking clients.
- Centralised procurement processes supported the multi-location distribution network.
Mopshop Distribution Limited’s total income increased steadily from ₹30.02 Cr in FY23 to ₹44.66 Cr in FY26.
Profit After Tax
Net profitability experienced sequential growth during the reported timeline.
- PAT moved from ₹0.81 crores in FY23 to ₹5.18 crores in the FY26 stub period.
- Securing commercial terms with vendors impacted purchase costs, aiding the bottom line.
- The net profit margin stood at 11.59% in the latest reported period.
Profit After Tax rose sharply from ₹0.81 Cr in FY23 to ₹5.18 Cr in FY26.
EBITDA
Operational earnings advanced as the firm managed its direct supply chain overheads.
- EBITDA increased from ₹1.39 crores in FY23 to ₹7.96 crores by February 2026.
- The EBITDA margin widened to 17.84% during the most recent 11-month fiscal period.
- Revenue growth outpaced operating cost increases over these periods.
EBITDA increased more than fivefold from ₹1.39 Cr in FY23 to ₹7.96 Cr in FY26.
Total Borrowing
The business utilised external debt primarily to manage the working capital intensity inherent in B2B distribution.
- Total borrowings stood at ₹3.92 crores in FY23 and increased to ₹12.21 crores by February 2026.
- These funds are concentrated in a short-term working capital cash credit facility.
- A designated portion of the IPO proceeds will be used to repay this facility.
Total Borrowing stood at ₹12.21 Cr as of 28 Feb 2026, up from ₹3.92 Cr in FY23.
Assets
The overall resource base of the company widened to accommodate its inventory and trade receivables.
- Total assets expanded from ₹13.41 crores in FY23 to ₹37.80 crores in Feb 2026.
- This build-up is largely dominated by current assets, specifically ₹16.15 crores in trade receivables and ₹14.58 crores in inventory for FY26.
- Physical fixed assets represent a minor fraction of the total balance sheet.
What Are the P/E ratio and Peer Comparison of Mopshop Distribution Limited?
Based on a fixed offer price of ₹138 and an FY25 earnings per share (EPS) of ₹6.24, Mopshop Distribution trades at a price-to-earnings (P/E) multiple of 22.11x.
Company Name | Total Operating Income (₹ Cr) | Basic EPS (₹) | P/E Ratio | RoNW (%) |
Mopshop Distribution Ltd | 41.99 | 6.24 | 22.11 | 73.6 |
Niparo Trading Pvt Ltd | 15.21 | ₹10.66 | N/A | 6.14 |
Miraclean Tools Pvt Ltd | 8.65 | ₹92.86 | N/A | 9.02 |
Note: The financial metrics for the unlisted sector peer noted above are sourced directly from its fiscal year 2025 annual filing available on the MCA public records website.
Analysis:
According to the Red Herring Prospectus, Mopshop Distribution does not have any listed companies in India with a directly comparable business model.
At the fixed issue price of ₹138, the company demands an implied P/E multiple of approximately 22.11x based on FY25 EPS.
When benchmarked against unlisted regional peers like Niparo Trading and Miraclean Tools, Mopshop operates at a larger scale with ₹41.99 crores in FY25 operating income.
It reports a Return on Net Worth (RoNW) of 73.67%, compared to Niparo's 6.14% and Miraclean's 9.02%, reflecting differences in capital utilisation.
What is the Industry of Outlook Mopshop Distribution Limited?
Growth potential
- The Indian facility management and hygiene consumables market is expanding, driven by post-pandemic hygiene awareness across corporate workspaces.
- Organised B2B distribution networks are replacing fragmented, regional suppliers by offering corporate clients integrated procurement solutions.
- The transition towards eco-friendly cleaning tools and green facility management products is creating new product categories for distributors.
Market trends
- The distribution sector remains highly working-capital intensive, requiring companies to manage inventory efficiently alongside extended client credit terms.
- Companies are increasingly investing in proprietary logistics fleets, such as EV tempos, to ensure reliable last-mile delivery and manage third-party costs.
- Direct sourcing capabilities and the negotiation of bulk commercial discounts with manufacturers are key factors in achieving higher EBITDA margins.
What Are The Strengths and Risks of Mopshop Distribution IPO ?
Strengths:
- Margin Profile: The implementation of a centralised procurement process reduced purchase costs, expanding EBITDA margins from 4.62% in FY23 to 17.84% by Feb 2026.
- Return Metrics: The business reported a Return on Net Worth (RoNW) of 73.67% in FY25, indicating high capital use efficiency.
- Asset-Light Model: Non-current tangible net assets represent a minor fraction of the balance sheet, allowing for operational scalability.
Risks:
- Geographic Concentration: The company is heavily reliant on Maharashtra, which contributed 66.97% of the total revenue in the 11-month period ending Feb 2026.
- Negative Cash Flows: The working-capital-intensive nature of the business resulted in negative operating cash flows of ₹(4.10) crores in the Feb 2026 stub period.
- Customer Dependency: The top 10 clients contributed 75.89% of the revenue in the 11-month period ended Feb 2026, creating vulnerability to client churn.
Key Considerations for Investors
- Cash Flow Strain: The firm's working capital intensity led to negative operating cash flows of ₹(4.10) crores in the 11-month period ending February 2026.
- Concentration Risk: The top 10 clients accounted for 75.89% of recent revenues, while operations are heavily concentrated in Maharashtra (66.97% of revenue).
- Debt Reduction: The firm will utilise ₹11.98 crores of the IPO proceeds to repay its working capital facility, reducing its pre-issue borrowing of ₹12.21 crores.
- Return Metrics: The company operates an asset-light model, recording an EBITDA margin of 17.84% (Feb 2026) and a 73.67% Return on Net Worth (FY25).
Key Takeaways
- IPO Price Band: ₹138 per equity share (Fixed Price)
- Lot Size: 1,000 shares (Minimum retail application of ₹2,76,000 for 2 lots)
- Allotment Date : Allotment on 24 August 2026;
- Listing Date: Listing on BSE SME on 26 August 2026
Important IPO Related Resources
2. IPO Allotment Status – How to Check Allotment Status of IPO Shares
3. July 2026 IPO Review: 33 IPOs, ₹21140.52 Cr Raised & 56.37x Average Subscription
4. July 2026 IPO Subscription Review: 32 IPOs Data, Demand Patterns & Key Trends
5. IPO Listing Performance Tracker 2026 – Complete Dataset of IPO Listing Gains in India
6. IPO Valuation vs Listing Performance Study 2026
FAQs on Mopshop Distribution IPO
Up-to-date grey market premium data for this small and medium enterprise (SME) public offering is available on our tracking hub, as unofficial market rates adjust daily according to broader market sentiment.
The public offering is structured as a fixed-price issue set at ₹138 per equity share.
The allotment status and its underlying basis are slated for finalization on 24 August 2026.
Upon completion of the allotment process, individuals can confirm whether they received shares by visiting the Cameo Corporate Services Limited registrar portal and providing their application info or PAN.
The tentative listing date for the equity shares on the BSE SME platform has been set for 26 August 2026.
Mopshop’s digital-first B2B model displays impressive operational scaling, with EBITDA margins reaching 17.84% and comfortably outperforming smaller unlisted peers. Fully repaying outstanding borrowings with Fresh Offer proceeds will significantly strengthen its balance sheet and leverage position. However, investors must evaluate the ₹138 Offer Price (22.10x FY25 P/E) against significant vulnerabilities, including severe geographic concentration in Maharashtra (66.97%), high top-10 client concentration (75.89%), and historical negative operating cash flows.
Disclaimer: Content presented here is structured as an educational summary and should not be treated as professional investment advice. Individuals must independently verify their choices with a certified SEBI advisor prior to investing.
