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Mehul Telecom IPO Details
Bookbuilding IPO | ₹28 Cr | Listing at BSE SME | Fri, Apr 17, 2026 - Tue, Apr 21, 2026
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..
Refer to Mehul Telecom IPO RHP for detailed Information.
IPO Open
Fri, Apr 17, 2026
IPO Close
Tue, Apr 21, 2026
Price Band
₹96 to ₹98
Market Cap (Pre-IPO)
₹102.43 Cr
IPO Details
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IPO Date17 to 21 Apr, 2026
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Listing DateFri, Apr 24, 2026T
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Face Value₹10 per share
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Price Band₹96 to ₹98
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Lot Size1,200 Shares
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Sale TypeFresh capital only
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Issue TypeBookbuilding IPO
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Listing AtBSE SME
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Total Issue Size28,29,600 shares (agg. up to ₹28 Cr)
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Reserved for Market Maker1,44,000 shares (agg. up to ₹1 Cr) Nikunj Stock Brokers Ltd.
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Fresh Issue (Ex Market Maker)26,85,600 shares (agg. up to ₹26 Cr)
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Net Offered to Public30,72,000 shares (agg. up to ₹30 Cr)
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Share Holding Pre Issue76,22,000 shares
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Share Holding Post Issue1,04,51,600 shares
Issue Reservation
Mehul Telecom IPO comprises a total issue size of 28,29,600 shares. The net offer to the public is 26,85,600 shares, after excluding 1,44,000 shares allotted on a firm basis. Of the Net offer 13,40,400 (49.91%) are allocated to QIB, 4,03,200 (15.01%) allocated to NII 9,42,000 (35.08%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 13,40,400 | 49.91% | 47.37% |
| − Anchor Investor Shares Offered | 7,89,600 | 27.91% | |
| − QIB (Ex. Anchor) Shares Offered | 5,50,800 | 19.47% | |
| NII (HNI) Shares Offered | 4,03,200 | 15.01% | 14.25% |
| Retail Shares Offered | 9,42,000 | 35.08% | 33.29% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,44,000 | 5.09% | |
| Total Shares Offered | 28,29,600 | 100.00% | 100.00% |
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 | 2,400 | ₹2,35,200 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,35,200 |
| S-HNI (Min) | 3 | 3,600 | ₹3,52,800 |
| S-HNI (Max) | 8 | 9,600 | ₹9,40,800 |
| B-HNI (Min) | 9 | 10,800 | ₹10,58,400 |
IPO Subscription Details
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, and power solutions like speakers, smartwatch, ear phones, head phones, tablets, mobile covers, phone chargers, screen guards, power banks, phone warranty plans, fire sticks, car holder clamps, pen drive etc. of various brands.
Business Vertical:
- Sales through Company Owned Company Operated Retail Stores (COCO Model)
- Sales through Franchise Owned Franchise Operated Outlets (FOFO Model)
Product Portfolio:
- Smart Phones and Tablets of all major brands operational in India like MI, Samsung, iPhone, Vivo, Oppo, Realme, Nokia, OnePlus, Redmi, Nothing, Tecno, Intel, Infinix, Xiaomi and other popular Brands in Gujarat.
- Allied accessories like speakers, smartwatch, ear phones, head phones, tablets, mobile covers, phone chargers, screen guards, power banks, phone warranty plans, fire sticks, car holder clamps, pen drive of all major brands operational in India like MI, Samsung, Vivo, Oppo, Realme, Nokia, OnePlus, Redmi, Nothing, Tecno, Intel, Infinix, Xiaomi and other popular Brands in Gujarat.
As of March 31, 2026, the company had a workforce of 27 personnel.
Competitive Strengths:
- Experienced Promoters and Management Team
- Extensive Distribution Network in Gujarat
- Comprehensive Product Range
- Strategic Store Locations and Customer Experience
- Low Capital Requirements for Growth
Company Financials (Restated)
| 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 | |||
Key Performance Indicator (KPI)
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 34.27% | 59.84% |
| ROCE | 34.80% | 47.16% |
| Debt/Equity | 0.15 | |
| RoNW | 29.25% | 35.31% |
| PAT Margin | 4.65% | 5.00% |
| EBITDA Margin | 6.39% | 6.63% |
| Price to Book Value | 4.17 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.53 | 9.02 |
| P/E (x) | 13.02 | 10.86 |
| Promoter Holding | 94.25% | |
| Market Cap | ₹102.43 Cr. |
- The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2025 available in RHP.
IPO Review
[Dilip Davda]
Read detail review…
Mehul Telecom IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 1 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Lead Manager(s)
- Cumulative Capital Pvt.Ltd. (Past IPO Performance)
Lead Manager Reports
- Lead Manager Performance Summary
- Lead Manager Performance Tracker
Contact Details
- 0281 2991223
- info@mehultelecom.com
- Visit Website
IPO FAQs
Mehul Telecom IPO is a SME IPO of 28,29,600 equity shares of the face value of ₹10 aggregating up to ₹28 Crores. The issue is priced at ₹96 to ₹98. The minimum order quantity is 1200.
The IPO opens on Fri, Apr 17, 2026, and closes on Tue, Apr 21, 2026.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
angel One customers can apply online in Mehul Telecom IPO using UPI as a payment gateway. angel One customers can apply in Mehul Telecom IPO by login into angel One Console (back office) and submitting an IPO application form.
Steps to apply in Mehul Telecom IPO through angel One
Visit the angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Mehul Telecom IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit angel One IPO Application Process Review for more detail.
The Mehul Telecom IPO opens on Fri, Apr 17, 2026 and closes on Tue, Apr 21, 2026.
Mehul Telecom IPO lot size is 1200, and the minimum amount required for application is ₹2,35,200, with 2 lots being the minimum application size.
You can apply in Mehul Telecom IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Mehul Telecom IPO will be done on Wednesday, April 22, 2026, and the allotted shares will be credited to your demat account by Thu, Apr 23, 2026. Check the Mehul Telecom IPO allotment status.
The Mehul Telecom IPO listing date is not yet announced. The tentative date of listing is Fri, Apr 24, 2026.
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