Mehul Telecom Limited SME IPO 2026: Date, Price Band, GMP & Allotment

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Mehul Telecom Limited IPO
Mobile Retail Chain · Smartphones & Accessories · COCO & FOFO Model · Digital Peripherals
📋 SME IPO Fresh Issue BSE SME
₹98
Upper Price
₹27.73 Cr
Issue Size
Apr 24, 2026
Listing Date
₹102.43 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative
🔓
IPO Opens
Friday, 17 April 2026
Bidding starts — apply before close
🔒
IPO Closes
Tuesday, 21 April 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Wednesday, 22 April 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Thursday, 23 April 2026
Unallotted funds returned; shares credited to demat
🏷️
Friday, 24 April 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date17 April 2026 (Fri)
IPO Close Date21 April 2026 (Tue)
Listing Date24 April 2026 (Fri)
Face Value₹10 per share
Price Band₹96 to ₹98
Issue Price (Upper Band)₹98 per share
Issue TypeBook Build — Fresh Issue
Lot Size1,200 shares
Total Issue Size28,29,600 shares (₹27.73 Cr)
Fresh Issue28,29,600 shares (₹27.73 Cr)
Market Maker Shares1,44,000 shares
Pre-Issue Shares76,22,000
Post-Issue Shares1,04,51,600
Market Cap (Pre-IPO)₹102.43 Cr
Lead ManagerCumulative Capital Pvt.Ltd.
RegistrarKfin Technologies Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹98
Investor TypeLotsSharesAmount
Retail — Minimum & Maximum22,400₹2,35,200
S-HNI (sNII) — Min33,600₹3,52,800
S-HNI (sNII) — Max89,600₹9,40,800
B-HNI (bNII) — Min910,800₹10,58,400
⚠️ SME IPO Note: Minimum bid for retail is 2 lots (2,400 shares = ₹2,35,200). Retail maximum application is also 2 lots. Lot size is 1,200 shares.
👥 Investor Reservation
Total 28,29,600 shares
49.91%
QIB (Net)
13,40,400 shares
27.91%
Anchor Portion
7,89,600 shares
35.08%
Retail (RII)
9,42,000 shares
15.01%
NII / HNI
4,03,200 shares
💡 Market Maker: Nikunj Stock Brokers Ltd. has been allocated 1,44,000 shares (5.09% of issue) to ensure liquidity post-listing.
📊 Subscription Status
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📈 Company Financials
Restated · ₹ Crore
MetricDec 2025 (9M)FY 2024–25FY 2023–24
Total Assets54.4134.4110.10
Total Income152.02115.47—
PAT7.075.74-0.01
EBITDA9.718.023.04
Net Worth24.1817.100.09
Total Borrowing3.720.07—
Income Growth
FY 2024–25₹115.47 Cr
9M FY26 (Apr–Dec 2025)₹152.02 Cr
🎯 Key Performance Indicators
59.84%
ROE
FY 2024–25
47.16%
ROCE
FY 2024–25
5.00%
PAT Margin
FY 2024–25
0.15
Debt/Equity
Dec 31, 2025
34.27%
ROE (9M FY26)
Dec 31, 2025
34.80%
ROCE (9M FY26)
Dec 31, 2025
4.65%
PAT Margin (9M)
Dec 31, 2025
4.17x
Price/Book
Dec 31, 2025
⚖️ Valuation & EPS
Pre-IPO EPS
₹7.53
FY25 earnings + pre-issue shares
P/E: 13.02x
Post-IPO EPS
₹9.02
Annualised 9M FY26 + post-issue shares
P/E: 10.86x
Price to Book Value
4.17x
At ₹98 (post-issue book)
Market Cap (Pre-IPO)
₹102.43 Cr
At issue price ₹98
ℹ️ Pre-IPO EPS (₹7.53) based on pre-issue shares (76,22,000) and FY25 earnings. Post-IPO EPS (₹9.02) based on post-issue shares (1,04,51,600) and annualised 9M FY26 earnings (Dec 31, 2025). Indicative figures from the RHP.
🎯 Objects of the Issue
Net proceeds utilisation
1
Funding of working capital needs
₹22.95 Cr
2
General Corporate Purposes
Balance
Total Net Proceeds Goal ₹22.95 Cr
🏢 About Mehul Telecom Limited
Est. 2023 · Rajkot, Gujarat · Mobile Retail Chain

Mehul Telecom Private Limited is a growing multi-brand mobile retail chain based in Gujarat. The company utilizes a hybrid retail model consisting of “COCO” (Company Owned, Company Operated) and “FOFO” (Franchisee Owned, Franchisee Operated) stores to distribute smartphones, tablets, and a wide array of connected lifestyle products.

The company’s product portfolio includes major global brands such as Apple, Samsung, OnePlus, and Xiaomi. In addition to hardware, Mehul Telecom offers peripherals like wearables, audio devices, and power solutions. With a strategic focus on the Gujarat market, the company leverages its extensive distribution network and experienced management team to deliver a comprehensive retail experience.

Retail Models
🏪
COCO Model
Company Owned and Operated stores ensuring direct quality control
🤝
FOFO Model
Franchisee Owned and Operated outlets for rapid geographical expansion
📱
Brand Partners
Authorized retail for Samsung, iPhone, OnePlus, Xiaomi, and more
⌛
Lifestyle Peripherals
Wearables, audio devices, power banks, and smartphone accessories
Competitive Strengths
🏆Extensive and growing distribution network across prime Gujarat locations
📦Comprehensive product range covering smartphones, tablets, and lifestyle gadgets
💪Hybrid retail model requiring low capital for scaling franchisee operations
👨‍💼Experienced management team with strong background in consumer electronics
Company Promoters
MR
Mehul Vasantbhai Raymagiya
Promoter, Mehul Telecom Limited
HR
Raymagiya Hemali Mehulbhai
Promoter, Mehul Telecom Limited
📅 Key Dates
IPO Opens17 Apr 2026
IPO Closes21 Apr 2026
Allotment22 Apr 2026
Refund & Share Credit23 Apr 2026
Listing Day24 Apr 2026
💡 Quick Summary
Price Band₹96 – ₹98
Issue Price₹98 / share
Lot Size1,200 shares
Min. Investment (Retail)₹2,35,200
Issue Size₹27.73 Cr
ListingBSE SME
🏦 Registrar & Lead Manager
Registrar
Kfin Technologies Ltd.
📞 040-67162222
[email protected]
Lead Manager
Cumulative Capital Pvt.Ltd.
Market Maker
Nikunj Stock Brokers Ltd.
📍 Registered Address
Mehul Telecom Limited
West Gate Shop 223, 150 Ft Ring Road,
Rajkot Raiya Road, Rajkot,
Gujarat — 360007
📞 0281 2991223
[email protected]
🛡️ Regulatory Note: SME IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️ Disclaimer: This page presents publicly available information from the Mehul Telecom IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
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