Mopshop Distribution IPO

SME • BSE SME • Fresh capital cum OFS

LISTEDSMEBSE SME

Mopshop Distribution

Price band

₹138

Lot size

1000 shares

Min investment

₹1,38,000

Issue size

₹27.26 Cr

About the company

Mopshop Distribution Limited was started in 2018. The company is in the Facility Management Supplies business, which means it supplies the cleaning and hygiene material that offices, hospitals and buildings use every day. Its product range includes microfiber cloths, surface disinfectants, sensor based dispensers, biodegradable garbage bags, tissue papers, pedal bins, wringer buckets, vacuum cleaners, air fresheners, tool kits and related items. The products are chosen for regular use, long life and low cost. The company sells to businesses across banking and insurance, construction and real estate and healthcare, and also supplies to facility management companies who do the housekeeping work at client sites. It has more than 300 clients across India. Orders are taken through an online order management platform built for it by an outside technology provider, supported by its own business development team. It has 115 employees working across 9 locations, with a warehouse at Vasai in Palghar.

Mopshop Distribution Limited supplies facility management products such as cleaning and hygiene consumables to businesses. It serves over 300 clients across BFSI, construction, real estate and healthcare from 9 locations, taking orders through its own online order management platform.

IPO details

Issue price: ₹138
Price band: ₹138
Face value: ₹10
Lot size: 1000
Min investment: ₹1,38,000
Issue size: ₹27.26 Cr
Sale type: Fresh capital cum OFS
Listing on: BSE SME
BSE scrip code: 7901
NSE symbol: MOPSHOP.BO

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	1,000	₹1,38,000
Retail (Max)	1	1,000	₹1,38,000
HNI (Min)	2	2,000	₹2,76,000

Investor reservation

CATEGORY	RESERVED
NII	9,38,000 shares (50.00% of the Offer)
Retail	9,38,000 shares (50.00% of the Offer)

Objects of the issue

1Repayment of all or a portion of certain outstanding borrowings availed by the Company11.50

2Purchase of Commercial Vehicles for transportation and logistical purposes2.21

3Funding of capital expenditure requirement towards setting up of Rooftop Grid Solar Power Plant at the Warehousing Facility located at Vasai, Palghar, Thane 4012081.05

4General Corporate Purpose

5Offer Related Expenses

Financials

Rs. Crore • restated

METRIC	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	23.81	18.12	13.51
Total Income	42.00	37.86	30.02
Profit After Tax	3.48	1.42	0.81
EBITDA	1.39	2.92	6.15
NET Worth	6.74	2.92	1.25
Reserves and Surplus	6.04	2.57	1.15
Total Borrowing	5.14	6.59	3.92

Key performance indicators

P/E Ratio

17.6

EPS (₹)

7.84

RoCE

50.12%

RoNW

51.56%

PAT Margin

8.28%

✓ Strengths

• Sales have grown every year, from Rs 30.02 crore in FY2023 to Rs 37.86 crore in FY2024 and Rs 42.00 crore in FY2025.

• Profit after tax has grown faster, from Rs 0.81 crore in FY2023 to Rs 1.42 crore in FY2024 and Rs 3.48 crore in FY2025.

• The client base is wide, with more than 300 clients spread across banking, insurance, construction, real estate and healthcare, so it is not tied to one industry.

• Cleaning and hygiene consumables are repeat purchase items. Once a client is added, orders keep coming month after month.

• The company works from 9 locations, which helps it serve clients who have offices in more than one city.

• It has its own online order management platform, which makes repeat ordering easy for clients and helps keep them.

• Borrowing came down from Rs 6.59 crore in FY2024 to Rs 5.14 crore in FY2025 while net worth rose from Rs 2.92 crore to Rs 6.74 crore.

• Rs 11.50 crore of the issue money will repay borrowings, which will cut interest cost further.

⚠ Risks

• The financial data in the offer document is old. The latest year shown is FY2025, ending 31 March 2025, so there is no FY2026 figure to judge the most recent performance.

• The EBITDA figures in the offer document do not sit well with the profit figures. EBITDA is shown falling from Rs 6.15 crore in FY2023 to Rs 2.92 crore in FY2024 and Rs 1.39 crore in FY2025, while profit after tax rises over the same period. This needs to be checked in the RHP before relying on the margin trend.

• This is a distribution business, which means the company mostly buys and resells. Such businesses usually work on thin margins and have low pricing power.

• There is very little to stop a competitor. Cleaning consumables can be supplied by many vendors and clients can switch on price.

• The company is small, with 115 employees and a net worth of Rs 6.74 crore, and is raising Rs 27.26 crore, which is much larger than its own funds.

• The online ordering platform was built by an outside provider, so the company does not fully own that technology.

• This is a fixed price issue at Rs 138 per share, so there is no price discovery through bidding.

• This is an SME issue. One lot is 1,000 shares, which is Rs 1.38 lakh at the issue price, and SME shares usually trade in low volume after listing.

Promoters & holding

Prakash Hakim Singh and Bunty Hakim Singh Gaur

Pre-issue promoter holding

99.99%

Post-issue promoter holding

72.57%

Data refreshed 07 Nov 2026, 05:04 pm IST. GMP is unofficial market sentiment, not investment advice.