Mehul Telecom IPO Details

SME BSE

Mehul Telecom IPO Summary

Mehul Telecom IPO opens for subscription on 17 Apr 2026 and closes on 21 Apr 2026.The IPO will be listed on BSE with the tentative listing date set for 24 Apr 2026.

Mehul Telecom IPO price band has been fixed at ₹96 – ₹98 per share. The face value is ₹10 per share with a lot size of 1200.

Mehul Telecom IPO total issue size comprises 28,29,600 shares (aggregating up to ₹27.73 Cr). This includes a fresh issue of 28,29,600 shares (aggregating up to ₹27.73 Cr). Pre-issue shareholding stands at 76,22,000, which will increase to 1,04,51,600 post-issue.

Mehul Telecom IPO carries a ₹5 (5.1%) GMP, reflecting investor sentiment.

Mehul Telecom IPO Lot Size :Individual Minimum is 2 lots (2,400 shares) amounting to ₹235,200. Individual Maximum is 2 lots (2,400 shares) amounting to ₹235,200. SHNI Minimum is 3 lots (3,600 shares) amounting to ₹352,800. SHNI Maximum is 8 lots (9,600 shares) amounting to ₹940,800. BHNI Minimum is 9 lots (10,800 shares) amounting to ₹1,058,400.

The Lead Managers for Mehul Telecom IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is Cumulative Capital Pvt Ltd . To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.

For SME (Small and Medium-sized Enterprise) IPOs, a Market Maker is appointed to ensure liquidity and stability for the stock once it is listed. They do this by continuously quoting bid and ask prices, ensuring there is a market for the shares. The appointed market maker for this IPO is Nikunj Stock Brokers. You can analyze their track record by checking the Market Maker Performance Summary report.

For detailed information, Refer to the Mehul Telecom Limited RHP.

Mehul Telecom IPO Details

Open Date

17 Apr 2026

Close Date

21 Apr 2026

Listing Date

24 Apr 2026

Issue Price

₹96 - ₹98

Face Value

₹10 per share

Lot Size

1200 Shares

GMP

₹5(5.1%)

Issue Type

IPO

Listing On

BSE

Type

Book Built Issue

Pre-issue Shareholding

76,22,000 shares

Post-issue Shareholding

1,04,51,600 shares

Total Issue Size

28,29,600 shares(aggregating up to ₹27.73 Cr)

Fresh Issue

28,29,600 shares(aggregating up to ₹27.73 Cr)

Offer for Sale

Mehul Telecom IPO Subscription

Mehul Telecom IPO Application Wise Breakup

Mehul Telecom IPO Dates

17 Apr 2026
Opening dateOpen
21 Apr 2026
Closing dateClose
22 Apr 2026
Allotment Date Allotment
23 Apr 2026
Initiation of RefundsRefund
23 Apr 2026
Credit of SharesCredit
24 Apr 2026
Listing dateListing

Mehul Telecom IPO Lot Size

Application	Lots	Shares	Amount
Individual Minimum	2	2400	₹235,200
Individual Maximum	2	2400	₹235,200
SHNI Minimum	3	3600	₹352,800
SHNI Maximum	8	9600	₹940,800
BHNI Minimum	9	10800	₹1,058,400

Mehul Telecom IPO Reservation

Promoter Holding

Pre Issue:

94.25%

Post Issue:

68.74%

Promoter Names:

Mehul Vasantbhai Raymagiya, , Raymagiya Hemali Mehulbhai

Documents

DRHP

Mehul Telecom IPO DRHP

RHP

Mehul Telecom IPO RHP

Anchor List

Anchor Investors

Mehul Telecom IPO Valuations

ROE34.27%

ROCE34.80%

Debt/Equity0.15

RoNW29.25%

PAT Margin4.65%

EBITDA Margin6.39%

EPS(₹) (Pre IPO)7.53

EPS(₹) (Post IPO)9.02

P/E (x) (Pre IPO)13.02

P/E (x) (Post IPO)10.86

Mehul Telecom Financial Information

Period Ended	31 Dec 2025	31 Mar 2025	31 Mar 2024
Assets	54.41	0.10	34.41
Total Income	152.02		115.47
Profit After Tax	7.07	5.74	-0.01
EBITDA	9.71	8.02	3.04
NET Worth	24.18	17.10	0.09
Reserves and Surplus	16.55	9.48	-0.01
Total Borrowing	3.72	0.07
Amount in ₹ Crore

About Mehul Telecom IPO

Mehul Telecom Private Limited, incorporated in May 2023, is a multi-brand mobile retail chain engaged in the sale of smartphones and related accessories through a hybrid retail model comprising Company Owned Company Operated (COCO) stores and Franchise Owned Franchise Operated (FOFO) outlets.

The company offers a wide range of connected lifestyle products and mobile peripherals, including wearables, audio devices, and power solutions. Its product portfolio includes items such as speakers, smartwatches, earphones, headphones, tablets, mobile covers, chargers, screen guards, power banks, warranty plans, fire sticks, car holder clamps, and pen drives.

Business Verticals

COCO Model: Sales through company-owned and company-operated retail stores, enabling direct control over customer experience and operations.

FOFO Model: Sales through franchise-owned and franchise-operated outlets, supporting expansion through a scalable distribution network.

Product Portfolio

The company offers smartphones and tablets from major brands operating in India, including MI, Samsung, Apple (iPhone), Vivo, Oppo, Realme, Nokia, OnePlus, Redmi, Nothing, Tecno, Infinix, Xiaomi, and other popular brands, with a primary focus on the Gujarat market.

In addition, it provides a wide range of accessories and peripherals from leading brands, catering to the growing demand for connected devices and mobile ecosystem products.

As of March 31, 2026, Mehul Telecom Private Limited had a total workforce of 27 personnel.

Strength Of Mehul Telecom IPO

Experienced Promoters and Management Team.
Extensive Distribution Network in Gujarat.
Comprehensive Product Range.
Strategic Store Locations and Customer Experience.
Low Capex Requirements for Growth.
Strong Financial Partnership.

Risk Of Mehul Telecom IPO

Opening and closing of stores is a regular part of the Company's business and depends mainly on the revenuegenerating potential of each location. Store performance is influenced by factors such as location, customer footfall, product mix, and operating efficiency. High-revenue stores are retained to strengthen its retail network, while underperforming outlets are rationalized or closed. This approach, while optimizing operations, exposes the company to risks of site selection errors, demand misjudgment, and closure-related costs.
The company's operations and revenues are limited to and concentrated in the geographical region of the State of Gujarat. In the State of Gujarat also its business revenue is generated mainly from two districts viz., Rajkot and Morbi. Any adverse development affecting the company's operations in this region or any saturation could have an adverse impact on its business, financial condition and results of operations.
The company has a limited operating history and may be subject to risks inherent in early-stage companies, which may make it difficult for investors to evaluate its business and prospects.
A substantial portion of the company's revenues has been dependent upon a limited number of customers. Loss of any of the top customers or any reduction of business from any one of them may affect the financial performance of the Company.
The Company had negative cash flow from operating activity in recent financial years, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
The company's Registered Office and other premises from where the company operates are on lease basis and not owned. In case of non renewal on commercially acceptable / favourable terms in future, it may lead to disruption in the company's operations and / or higher rent, which in turn could have an adverse effect on its business prospects and financial condition.
The company's business is a high volume-low margin business. The company's inability to regularly grow its turnover and effectively execute the company's key business processes could lead to lower profitability and hence affect its operating results and financial conditions.
Competition from online retailers who can offer products at competitive prices and are also able to offer a wide range of products may adversely affect its business and the company's financial condition, results of operations and cash flows.
The Mobile and Accessories retailing business has a low entry barrier. Increase in competitors, including new entrants who can capture market share rapidly could have an adverse impact on the company's business, financial condition and results of operations.
Over dependence of the company's business on franchise owned and franchise operated model (FOFO) rather than company operated and company owned (COCO) model.

Objectives Mehul Telecom IPO

1. Funding of working capital needs

2. General Corporate Purposes

3. Total

Company Contact Details

West Gate Shop 223, 150 Ft Ring Road, Rajkot Raiya Road,
Rajkot, Gujarat , 360007
Phone: 0281 2991223
Email: info@mehultelecom.com
Website: https://www.mehultelecom.com/

Registrar Contact Details

Name:

Kfin Technologies Ltd

Phone:

+91-40-67162222

Email:

mehul.ipo@kfintech.com

Website:

https://ipostatus.kfintech.com/

Lead Mangers

Market Maker

Mehul Telecom FAQs

The Mehul Telecom IPO is a SME public issue comprising 2829600 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹27.73 Cr. The issue price has been fixed at ₹98 per equity share, and the minimum application size is 1200 shares.

The IPO opens for subscription on 17 Apr 2026, and closes on 21 Apr 2026.

Kfin Technologies Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the BSE

The Mehul Telecom IPO opens on 17 Apr 2026.

Mehul Telecom IPO lot size is 1200, and the minimum amount required for application is ₹117600.

You may apply for the Mehul Telecom IPO online by using either the UPI or ASBA payment method. The ASBA facility is available through the net banking platform of your respective bank. The UPI-based IPO application option is typically provided by brokers that do not offer banking services. For detailed guidance on the online IPO application process, please refer to the procedures outlined by Zerodha, Groww, Upstox, 5Paisa, Paytm Money, Fyers, Alice Blue, Nuvama, HDFC Bank, ICICI Direct, Kotak Securities, Axis Direct, and SBI Bank.

The Basis of Allotment for the Mehul Telecom IPO is scheduled to be finalized on 22 Apr 2026. Subsequently, the shares allotted will be credited to investors’ demat accounts by 23 Apr 2026. Investors are advised to regularly check the Mehul Telecom IPO allotment status for updates.

The listing date for the Mehul Telecom IPO has not yet been officially announced. However, the tentative listing date is scheduled for 24 Apr 2026.

Mehul Telecom IPO Grey Market Premium (GMP) refers to the unofficial price at which the company’s IPO shares are traded in the grey market prior to their listing on the stock exchange. The GMP serves as an indicator of investor demand, expected listing gains, and the overall market sentiment toward the IPO.

As of now, the current GMP stands at ₹5 (5.1%).