Is Mehul Telecom IPO good for investment?

Mehul Telecom IPO could be an interesting opportunity for investors who want exposure to India's booming mobile retail sector. The company has shown revenue growth, a clear fund utilization plan, and operates in a market with strong long-term demand. That said, this is an SME IPO, which comes with higher risk compared to mainboard listings. Investors should carefully review the DRHP and assess their own risk appetite before applying.

Where does Mehul Telecom Limited operate its business?

Mehul Telecom currently operates primarily in Gujarat. The company has built its retail presence across key locations in the state, choosing spots that attract strong customer footfall. Both its company-owned stores and franchise outlets are strategically placed to make the brand accessible and visible to a wide customer base across the region.

. How will Mehul Telecom use the IPO funds?

The majority of the IPO proceeds — approximately ₹22.95 crore — will be used for working capital requirements. This includes managing inventory levels, making timely supplier payments, and keeping daily business operations running smoothly. Since mobile retail depends heavily on having the right stock at the right time, this capital infusion is directly aimed at making the business more efficient and responsive to market demand.

What is the business model of Mehul Telecom Limited?

Mehul Telecom follows a hybrid retail model that combines two formats. First, COCO (Company Owned Company Operated) stores, which the company directly manages to maintain quality and brand consistency. Second, FOFO (Franchise Owned Franchise Operated) outlets, where franchise partners run the stores under the Mehul Telecom brand. This approach allows the company to expand its footprint quickly without committing excessive capital to every new location — keeping growth both fast and cost-efficient.

Mehul Telecom IPO listing price?

Mehul Telecom IPO shares listed at around ₹+108 on BSE SME.

What is the price band of Mehul Telecom IPO?

The price band of Mehul Telecom IPO is fixed at ₹96 to ₹98 per equity share.

What is the issue price of Mehul Telecom IPO?

The issue price of Mehul Telecom IPO is ₹98 per share.

What is the lot size of Mehul Telecom IPO?

The lot size of Mehul Telecom IPO is 1200 shares per lot.

When is Mehul Telecom IPO allotment date?

The allotment date of Mehul Telecom IPO is expected to be 22 Apr 2026. Investors can check allotment status using PAN or application number on registrar website.

When will Mehul Telecom IPO list on the stock exchange?

Mehul Telecom IPO is expected to list on BSE SME on 24 Apr 2026.

What is the subscription status of Mehul Telecom IPO?

Mehul Telecom IPO has a total subscription of 41.24x , reflecting the overall investor interest. These numbers can change until the IPO closes on 21 Apr 2026.

Who is the registrar of Mehul Telecom IPO?

The registrar of Mehul Telecom IPO is KFin Technologies Pvt Ltd.

Listing at ▲ + ₹108 Per Share

Mehul Telecom IPO 2026 – Price, GMP, Review & Should You Invest?

Latest Grey Market Premium & IPO Details

Mehul Telecom IPO 2026 – Key Info & Highlights

Mehul Telecom SME IPO 2026 opens April 17–21. Price band ₹96–₹98, lot size 1200 shares, listing April 24 on BSE SME. Read full review before you apply.

📌 IPO Details

Company Name	Mehul Telecom IPO
Sector / Industry	Telecom - Equipment & Accessories
IPO Open Date	17-04-2026
IPO Close Date	21-04-2026
Allotment Date	22-04-2026
Refund Date	23-04-2026
Share Credit Date	23-04-2026
Listing Date	24-04-2026
Price Band	₹96 - ₹98
Lot Size	1200 Shares
Min Investment	₹2,35,200 (2 lots)
Total Issue Size	₹27.73 Cr
Reserved for Market Maker	₹1.41 Cr
Net Issue Size	₹26.32 Cr
Fresh Issue	₹26.32 Cr
IPO Listing At	BSE SME
DRHP	View DRHP
RHP	View RHP
Issue Type	Book Build Issue
Face Value	₹10 Per Equity Share
Promoter Holding Pre IPO	94.25 %

* All Dates are provisional

Quota Allocation

Category	Allocation (%)
Retail Investors	33.29%
QIB (Qualified Institutional Buyers)	47.37%
Anchor Investors	27.91%
HNI (High Net Worth Individuals)	14.25%
Reserved for Market Maker	5.09%

📈 Grey Market Premium (GMP) Day-wise Trend

GMP Date	GMP Price	Trend	Estimated Listing Price	Estimated Profit*	Last Updated
24-04-2026	₹3.75	-	₹101.75	₹4500.00	24-04-2026 09:54
23-04-2026	₹3.75	▼	₹101.75	₹4500.00	23-04-2026 23:00
22-04-2026	₹3.00	-	₹101.00	₹3600.00	22-04-2026 23:00

📈 View Full Mehul Telecom IPO GMP live 📊 View All IPO GMP Data

Note: Grey Market Premium is unofficial and indicative only.

📝 About Mehul Telecom

India's smartphone market is growing fast, and Mehul Telecom Limited wants to grow with it. Incorporated in May 2023, this Gujarat-based multi-brand mobile retailer is now launching its SME IPO on the BSE platform — and the story behind it is worth understanding before you decide.

What Does Mehul Telecom Do?

Mehul Telecom is a one-stop destination for mobile and connected lifestyle products. The company sells smartphones, tablets, smartwatches, earphones, headphones, speakers, chargers, power banks, screen guards, mobile covers, and more — all under one roof.

Brands available include Apple, Samsung, Vivo, Oppo, Xiaomi, Realme, Nokia, OnePlus, and others. This wide brand and price range means the company serves budget buyers and premium customers equally well.

The Business Model That Makes Sense

What sets Mehul Telecom apart is its hybrid retail approach:

COCO (Company Owned, Company Operated) stores give the company direct control over operations and customer experience.

FOFO (Franchise Owned, Franchise Operated) stores allow faster expansion without heavy capital investment from the company's side.

This combination keeps costs manageable while still enabling growth — a smart way to scale in a competitive retail market.

Currently, the company operates primarily in Gujarat, with stores placed at strategic locations to maximize footfall and deliver a quality shopping experience.

IPO Details: Where Does the Money Go?

This IPO is a 100% fresh issue — meaning no insider is selling shares. Every rupee raised goes directly into building the business.

The biggest allocation — approximately ₹22.95 crore — goes toward working capital. In mobile retail, this is critical. More working capital means better inventory, faster restocking, stronger supplier relationships, and smoother day-to-day operations.

The company has shown consistent revenue growth and improving profitability in recent periods, which signals the business model is working on the ground.

Growth Plans Going Forward

Mehul Telecom has a focused plan for the future:

Expand the retail store network across Gujarat and beyond
Strengthen presence in existing markets
Improve the in-store customer experience
Tighten inventory and supply chain management

With smartphone adoption still rising in India's tier-2 and tier-3 cities, and demand for accessories like smartwatches and wireless earphones growing rapidly, Mehul Telecom is positioned in exactly the right space at the right time.

Should You Pay Attention?

Mehul Telecom checks several important boxes — capital-efficient model, clear fund utilization, growing financials, and a large addressable market. The fresh issue structure also shows confidence from the promoters.

That said, the company is young and the mobile retail space is competitive. Always read the DRHP and consult a financial advisor before investing.

Mehul Telecom Revised Financials

Financial Performance (Recent Periods)

Particulars	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	-

Disclaimer: All figures are in ₹ Crore and are based on company-reported financials. The period ending 31 Dec 2025 represents a partial financial year and may not be directly comparable with full-year figures. Missing values are not disclosed or reported by the company. Positive values indicate profit, while negative values indicate losses.

Mehul Telecom IPO Objects of Issue

₹22.95 Cr – Working Capital Requirements The company will primarily use the IPO proceeds to support its day-to-day operations, including inventory purchases, payments to suppliers, and smooth functioning of its retail business.
General Corporate Purposes A portion of the funds will also be used for general corporate needs such as administrative expenses, business support activities, and overall growth initiatives.
Total Issue Utilization – ₹22.95 Cr

Mehul Telecom Strengths

Experienced Promoters and Management Team – The company is led by experienced promoters who have a good understanding of the mobile retail business and are actively involved in running and growing the operations.
Extensive Distribution Network in Gujarat – The company has developed a strong presence across Gujarat, allowing it to reach a large number of customers through its retail network.
Comprehensive Product Range – It offers a wide selection of smartphones and accessories, covering different brands and price segments to meet varied customer preferences.
Strategic Store Locations and Customer Experience – Stores are set up in well-chosen locations to attract customer footfall, with a focus on providing a smooth and satisfying in-store experience.
Low Capital Requirements for Growth – The company follows a growth approach that does not require heavy capital investment, making it easier to expand its business efficiently.

Mehul Telecom Risk Factors

Our business operations are geographically concentrated in Gujarat – A significant portion of our revenue is derived from operations in Gujarat. Any adverse changes in the economic or regulatory conditions in this region could materially affect our business and financial performance.
We are dependent on third-party brands and suppliers – We rely on various mobile brands for procurement of products. Any disruption in supply, change in terms, or loss of association with such brands could adversely impact our operations.
We operate in a highly competitive industry – The mobile retail industry is highly competitive with the presence of numerous organized and unorganized players, which may impact our margins and growth.
Our business requires significant working capital – The nature of our operations requires continuous investment in inventory and working capital. Any shortfall may impact day-to-day operations.
We have a limited operating history – As a relatively new company, our past performance may not be indicative of our future growth and financial results.

IPO Quick Info

Open Date
17 Apr 2026

Close Date
21 Apr 2026

IPO Status
Upcoming

Time Left

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Lead Manager(s)

Cumulative Capital Pvt.Ltd.

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By: IPO Info India Team

Last Updated: 26 Apr 2026, 01:12 AM

Frequently Asked Questions

Mehul Telecom Limited is a multi-brand mobile retail company that sells smartphones, tablets, and a wide range of accessories from top brands like Apple, Samsung, Vivo, Xiaomi, and others. The idea is simple — instead of visiting multiple stores for different brands, customers get everything under one roof. The company serves buyers across all budget segments through its growing retail and franchise store network.