Mehul Telecom IPO
GMP, Subscription, Price, Dates & Financial Details
Telecom-infrastructure
Incorporated in May 2023, Mehul Telecom Private Limited is a multi-brand mobile retail chain engaged in the sale of smartphones and a wide range of connected lifestyle products and accessories. The company operates through a hybrid retail model comprising:COCO (Company Owned, Company Operated)…
Open Date
Fri, 17 Apr 2026
Close Date
Tue, 21 Apr 2026
Price Band
₹ 96 – 98
Lot Size
1200
Issue Size
₹ 27.73 Cr
Minimum Investment
₹ 235,200 (2400 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Mehul Telecom IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹27.73 Crore, comprising a fresh issue of 28.30 Lakh equity shares aggregating to ₹27.73 Crore.
The Mehul Telecom IPO remained open for subscription from April 17, 2026, to April 21, 2026. The basis of allotment was finalized on April 22, 2026, and the company's shares were listed on BSE SME Platform on April 24, 2026.
The company had fixed the price band at ₹96 to ₹98 per share, with a lot size of 1200 shares. Retail investors were required to make a minimum investment of ₹235,200 (based on the upper price band) to apply for one lot.
KFin Technologies Limited served as the registrar to the issue. Cumulative Capital Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Mehul Telecom Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Mehul Telecom IPO Timeline (Tentative)
- IPO Open Date
- Fri, 17 Apr 26
- IPO Close Date
- Tue, 21 Apr 26
- Basis of Allotment
- Wed, 22 Apr 26
- Initiation of Refunds
- Thu, 23 Apr 26
- Credit of Shares to Demat
- Thu, 23 Apr 26
- Listing Date
- Fri, 24 Apr 26 — NSE & BSE
Open Date
17 April 2026
Close Date
21 April 2026
Basis Of Allotment
22 April 2026
Listing Date
24 April 2026
IPO Subscription
Check Live Subscription →The Mehul Telecom IPO has received bids for 11,74,44,000 shares against 22,99,200 shares offered, resulting in an overall subscription of 51.08x. the NII category is subscribed 79.74x, Retail Investors 37.41x, and QIBs 32.5x. Within the NII category, BNII is subscribed 96.96x, while SNII is subscribed 45.29x.
QIB
32.5x
NII
79.74x
BNII
96.96x
SNII
45.29x
RII
37.41x
Total
51.08x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 9,43,200 shares, representing 49.75% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 5,49,600 shares (28.99%), while Non-Institutional Investors (NIIs) receive 4,03,200 shares (21.27%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 549,600 | 28.99% |
| Non-Institutional | 403,200 | 21.27% |
| BNII | 268,800 | 14.18% |
| SNII | 134,400 | 7.09% |
| Retail Investors | 943,200 | 49.75% |
| Total | 1,896,000 | 100% |
Financials Details(₹ in Crores)
| Particular | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 54.41 | 0.1 | 34.41 |
| Revenue | 152.02 | 0 | 115.47 |
| Profit After Tax | 7.07 | 5.74 | -0.01 |
| Net Worth | 24.18 | 17.1 | 0.09 |
| Reserve & Surplus | 16.55 | 9.48 | -0.01 |
| Total Borrowings | 3.72 | 0.07 | 0 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Mehul Telecom Limited KPI Information
| Particular | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 34.27 | 59.84 | 99.32 | 40.95 |
| ROCE % | 34.8 | 47.16 | 42.43 | 30.05 |
| Debt / Equity | 0.15 | 0 | 0 | 0 |
| RoNW % | 29.25 | 35.31 | 71.22 | 38.45 |
| Pat Margin % | 4.65 | 5 | 2.05 | 0.64 |
Peers Comparison
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Mehul Telecom Ltd | 10 | 0.00 | 8.30 | 8.30 | 35.31 | 23.49 |
| Fonebox Retail Ltd | 10 | 14.45 | 4.43 | 4.43 | 13.18 | 33.62 |
| Jay Jalaram Technologies Ltd | 10 | 17.13 | 5.27 | 5.27 | 10.02 | 56.81 |
| Bhatia Communications & Retail (India) Ltd | 1 | 18.94 | 1.10 | 1.10 | 15.56 | 7.08 |
About Mehul Telecom Limited
Incorporated in May 2023, Mehul Telecom Private Limited is a multi-brand mobile retail chain engaged in the sale of smartphones and a wide range of connected lifestyle products and accessories. The company operates through a hybrid retail model comprising:
- COCO (Company Owned, Company Operated) Stores
- FOFO (Franchise Owned, Franchise Operated) Outlets
Business Operations
The company offers an extensive portfolio of mobile devices and electronic accessories through its retail network across Gujarat. Its operations are focused on delivering a comprehensive customer experience by combining product availability with after-sales support.
Product Portfolio
1. Smartphones and Tablets
The company deals in smartphones and tablets from leading brands operating in India, including:
MI, Samsung, Apple (iPhone), Vivo, Oppo, Realme, Nokia, OnePlus, Redmi, Nothing, Tecno, Infinix, Xiaomi, and other popular brands.
2. Accessories and Connected Devices
The company also offers a wide range of allied products and peripherals, such as:
- Smartwatches and wearables
- Audio devices (earphones, headphones, speakers)
- Mobile covers and screen guards
- Chargers and power banks
- Streaming devices (e.g., Fire TV Stick)
- Car accessories (e.g., holder clamps)
- Storage devices (e.g., pen drives)
- Extended warranty and protection plans
Workforce
As of March 31, 2026, Mehul Telecom Private Limited employs a total of 27 personnel.
Mehul Telecom IPO Promoters
- Mehul Vasantbhai Raymagiya
- Raymagiya Hemali Mehulbhai
Promoters Holding
Holding Pre Issue
94.25%
Holding Post Issue
0.00%
Mehul Telecom IPO Objective
The Company Mehul Telecom IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding of working capital needs
- General corporate purposes
Mehul Telecom Limited Address / Contact Details
Mehul Telecom Ltd.
West Gate Shop 223,
150 Ft Ring Road,
Rajkot Raiya Road,
Rajkot, Gujarat, 360007
Phone: 0281 2991223
Email: info@mehultelecom.com
Website: http://www.mehultelecom.com/
IPO Snapshot
Mehul Telecom IPO Lot Size
The Mehul Telecom IPO has a lot size of 1,200 shares. Retail investors require a minimum investment of ₹2,35,200 by applying for 2 lot (2,400 shares). The maximum application allowed for the retail category is 2 lots (2,400 shares), requiring an investment of ₹2,35,200.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 235,200.00 |
| Retail (Max) | 2 | 2,400 | 235,200.00 |
| S-HNI (Min) | 3 | 3,600 | 352,800.00 |
| S-HNI (Max) | 8 | 9,600 | 940,800.00 |
| B-HNI (Min) | 9 | 10,800 | 1,058,400.00 |
Issue Reservation
- QIB — 28.99%
- NII — 21.27%
- RII — 49.75%
Book Running Lead Managers
- Cumulative Capital Private Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Mehul Telecom IPO?
Mehul Telecom IPO is a Book-building IPO with a total issue size of ₹27.73 crore. The Mehul Telecom IPO price band is ₹96 to 98 per share. The Mehul Telecom IPO subscription opens on Fri, Apr 17, 2026, and closes on Tue, Apr 21, 2026. The Mehul Telecom IPO will be listed on the BSE. KFin Technologies Limited is the registrar for the Mehul Telecom IPO.
When will the Mehul Telecom IPO open for subscription?
The Mehul Telecom IPO opens on Fri, Apr 17, 2026 and closes on Tue, Apr 21, 2026
What is Mehul Telecom IPO Price Band?
Mehul Telecom IPO Price Band is ₹96 to 98 per share.
What is Mehul Telecom IPO Lot Size?
Mehul Telecom IPO lot size is 1200 shares, Retail investors need a minimum investment of ₹235200 based on the upper price band
What is the minimum investment for Mehul Telecom IPO?
The minimum investment for Mehul Telecom IPO is ₹235200, based on one lot of 1200 shares at the upper price band of ₹98 per share.
How to apply for Mehul Telecom IPO?
Investors can apply for the Mehul Telecom IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Apr 21, 2026. The application amount remains blocked until the Mehul Telecom IPO allotment is finalized.
What is Mehul Telecom IPO Issue Size?
Mehul Telecom IPO issue size is ₹27.73 crores.
What is the Mehul Telecom IPO Allotment Date?
Mehul Telecom IPO allotment date is Wed, Apr 22, 2026.
Who is the Mehul Telecom IPO Registrar?
The registrar for Mehul Telecom IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check Mehul Telecom IPO allotment status, refund processing, and other IPO-related information.
What is the Mehul Telecom IPO GMP?
The Mehul Telecom IPO GMP (Grey Market Premium) is ₹3 as of Fri, Apr 24, 2026. Based on the upper price band of ₹98 per share, the estimated Mehul Telecom IPO listing price is ₹101, indicating a potential listing gain of approximately 3.06% over the issue price.
Who is the Mehul Telecom IPO Lead Manager?
The book-running lead managers (BRLMs) for the Mehul Telecom IPO are Cumulative Capital Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Mehul Telecom IPO Red Herring Prospectus (RHP).