Mehul Telecom IPO
Mehul Telecom IPO
Overview
Mehul Telecom IPO is a book build issue of ₹27.73 crores. The issue is entirely a fresh issue of 0.28 crore shares of ₹27.73 crore. Mehul Telecom IPO opens for subscription on Apr 17, 2026 and closes on Apr 21, 2026. The allotment for the Mehul Telecom IPO is expected to be finalized on Apr 22, 2026. Mehul Telecom IPO will list on the BSE SME with a tentative listing date fixed as Apr 24, 2026. Mehul Telecom IPO is set issue price band at ₹96 to ₹98 per share. The lot size for an application is 1,200 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,35,200 (2,400 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,600 shares), amounting to ₹3,52,800. Cumulative Capital Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Total Shares
28,29,600
Issue Size
₹28 Cr
Price Band
₹96 – ₹98
Lot Size
1200 shares
Min. Investment
₹2,35,200
Max. Investment
₹2,35,200
Open Date
17 Apr, 2026
Close Date
21 Apr, 2026
Allotment
22 Apr, 2026
Listing
24 Apr, 2026
Max. Investment
₹2,35,200
Announced
17 Apr, 2026
Opening Date
17 Apr, 2026
Closing Date
21 Apr, 2026
Basis of Allotment
22 Apr, 2026
Initiation of Refunds
23 Apr, 2026
Credit of Shares
23 Apr, 2026
Listing Date
24 Apr, 2026
Live GMP
Est. Listing: ₹101
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About Mehul Telecom IPO
About Mehul Telecom Ltd.
Incorporated in May 2023, Mehul Telecom Private Limited is multi-brand mobile retail chain offering smartphones and accessories through a hybrid “COCO” (Company Owned, Company Operated) and “FOFO” (Franchisee Owned, Franchisee Operated) retail model.
The company retail connected lifestyle products and peripherals such as wearables, audio devices, an
Mehul Telecom IPO Share Price
Issue Breakdown
Shareholding
Dilution: 37.1% increase in shares
Mehul Telecom IPO Financial Health
Mehul Telecom IPO Lot Size
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2400 | ₹2,35,200 |
| Individual investors (Retail) (Max) | 2 | 2400 | ₹2,35,200 |
| S-HNI (Min) | 3 | 3600 | ₹3,52,800 |
| S-HNI (Max) | 8 | 9600 | ₹9,40,800 |
| B-HNI (Min) | 9 | 10800 | ₹10,58,400 |
(All values in CR)
Mehul Telecom IPO Valuations
| Metric | Value |
|---|---|
| ROE | 34.27 |
| ROCE | 34.80 |
| Debt/Equity | 0.15 |
| RoNW | 29.25 |
| PAT Margin | 4.65 |
| EBITDA Margin | 6.39 |
| Price to Book Value | - |
(All values in CR)
Mehul Telecom IPO Strength & Risk
Mehul Telecom IPO Strengths
- Experienced promoters with strong industry knowledge
- Established retail and distribution network, especially in Gujarat
- Strong presence in key markets like Rajkot and Morbi
- Diverse product portfolio including smartphones and accessories
- Strategic store locations in high footfall areas
- Consistent revenue growth with improving profitability
- Asset-light business model enabling scalability
- Strong relationships with dealers and customers
Mehul Telecom IPO Risks
- High dependence on a single geographic region (Gujarat)
- Intense competition from organized retailers and online platforms
- Low entry barriers in telecom retail business
- Dependency on limited brands and suppliers
- SME listing leading to low liquidity and high volatility
- Limited operating history as a public company
- Margin pressure due to competitive pricing environment
Mehul Telecom IPO Subscriptions Status
Mehul Telecom IPO subscribed 17.23 times. The public issue subscribed 16.47 times in the individual investors category, 3.12 times in QIB (Ex Anchor), and 38.23 times in the NII category by April 21, 2026 12:04:36 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 7,89,600 | 7,89,600 | 7.74 |
| Market Maker | 1.00 | 1,44,000 | 1,44,000 | 1.41 |
| QIB (Ex Anchor) | 3.12 | 5,49,600 | 17,14,800 | 16.81 |
| NII | 38.23 | 4,03,200 | 1,54,12,800 | 151.05 |
| bNII (> ₹10L) | 45.52 | 2,68,800 | 1,22,36,400 | 119.92 |
| sNII (< ₹10L) | 23.63 | 1,34,400 | 31,76,400 | 31.13 |
| Individual Investors | 16.47 | 9,43,200 | 1,55,32,800 | 152.22 |
| Total | 17.23 | 18,96,000 | 3,26,60,400 | 320.07 |
Mehul Telecom IPO GMP
Mehul Telecom SME IPO last GMP is ₹3, last updated Apr 21st 2026 10:57 AM. With the price band of 98.00, Mehul Telecom SME IPO's estimated listing price is ₹101 (cap price + today's GMP).The expected percentage gain/loss per share is 3.06%. >> Mehul Telecom SME IPO Retail Subject to Sauda: ₹2700 The lowest GMP is ₹0.00, while the highest GMP is ₹5.00.
Last updated 21 Apr, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 21 Apr, 2026 | 98 | ₹3▼ | 2700 | ₹101 (3.06%) | 3600 | 21 Apr, 2026 |
| 20 Apr, 2026 | 98 | ₹5▲ | 4600 | ₹103 (5.10%) | 6000 | 20 Apr, 2026 |
| 19 Apr, 2026 | 98 | ₹4.5 | 4100 | ₹102.5 (4.59%) | 5400 | 19 Apr, 2026 |
| 18 Apr, 2026 | 98 | ₹4.5 | 4100 | ₹102.5 (4.59%) | 5400 | 18 Apr, 2026 |
| 17 Apr, 2026 | 98 | ₹4.5 | 4100 | ₹102.5 (4.59%) | 5400 | 17 Apr, 2026 |
| 16 Apr, 2026 | 98 | ₹4.5▲ | 4100 | ₹102.5 (4.59%) | 5400 | 16 Apr, 2026 |
| 15 Apr, 2026 | 98 | ₹0 | - | ₹98 (0.00%) | - | 15 Apr, 2026 |
| 14 Apr, 2026 | 98 | ₹0 | - | ₹98 (0.00%) | - | 14 Apr, 2026 |
| 13 Apr, 2026 | 98 | ₹0 | - | ₹98 (0.00%) | - | 13 Apr, 2026 |
| 12 Apr, 2026 | 98 | ₹0 | - | ₹98 (0.00%) | - | 12 Apr, 2026 |
| 11 Apr, 2026 | 98 | ₹0 | - | ₹98 (0.00%) | - | 11 Apr, 2026 |
| 10 Apr, 2026 | 0 | ₹0 | - | ₹ (%) | - | 10 Apr, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Mehul Telecom IPO
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Go to IPO Section
Find Mehul Telecom IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Provide your UPI ID linked to your bank account and submit the application.
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Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.