Mehul Telecom
Table of Contents
- 01 IPO Description
- 02 IPO Parameters
- 03 IPO Roadmap
- 04 GMP History
- 05Mehul Telecom IPO Market Lot
- 06 Mehul Telecom IPO Details
- 07 Mehul Telecom IPO Reservation
- 08 Mehul Telecom IPO Anchor Investors
- 09 Mehul Telecom IPO Dates
- 10 Mehul Telecom IPO Promoters & Holding Pattern
- 11 Mehul Telecom IPO – Objects of the Issue
- 12 About Mehul Telecom IPO
- 13 Mehul Telecom IPO Company Financial Report
- 14 Mehul Telecom IPO Valuation – FY2025
- 15 Mehul Telecom IPO Peer Group Comparison
- 16 IPO Lead Managers aka Merchant Bankers
IPO DESCRIPTION
Mehul Telecom Limited operates in the telecom infrastructure and services sector, offering solutions such as network installation, maintenance, and related telecom equipment support. The company plays a key role in supporting telecom operators by enabling efficient network deployment and connectivity services. With the rapid expansion of mobile networks, broadband services, and increasing demand for digital connectivity, the company benefits from continuous growth in the telecom sector. Its services are aligned with the rising need for reliable communication infrastructure across urban and rural areas. The IPO is aimed at funding working capital requirements, business expansion, and enhancing operational capabilities, positioning the company to capitalize on opportunities in India’s fast-growing telecom industry.
IPO PARAMETERS
IPO ROADMAP
Grey Market Premium HISTORY
| Date | GMP (₹) | Daily Change | Gain (%) |
|---|---|---|---|
| 17 Apr 2026 | ₹4.50 | +₹4.50 | 4.59% |
| 15 Apr 2026 | ₹0.00 | - | 0.00% |
Mehul Telecom IPO MARKET LOT
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2,400 | ₹235,200 |
| Retail Maximum | 2 | 2,400 | ₹235,200 |
| S-HNI Minimum | 3 | 3,600 | ₹352,800 |
| S-HNI Maximum | 8 | 9,600 | ₹940,800 |
| B-HNI Minimum | 9 | 10,800 | ₹1,058,400 |
Mehul Telecom IPO DETAILS
| IPO Open Date | April 17, 2026 |
|---|---|
| IPO Close Date | April 21, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹96 to ₹98 Per Share |
| Issue Size | Approx ₹28 Crores (30,00,000 Shares) |
| Fresh Issue | Approx ₹28 Crores (30,00,000 Shares) |
| Issue Type | Book Building Issue |
| IPO Listing | BSE SME |
Mehul Telecom IPO RESERVATION
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | 7,89,600 Shares | — |
| QIB (Ex. Anchor) | 5,50,800 Shares | — |
| NII | 4,03,200 Shares | 15% |
| Retail | 9,42,000 Shares | 35% |
Mehul Telecom IPO Anchor INVESTORS
| Anchor Bidding Date | April 16, 2026 |
|---|---|
| Shares Offered | 7,89,600 Shares |
| Anchor Size | ₹ — Cr. |
| Lock-in Period (50% Shares - 30 Days) | 2026 |
| Lock-in Period (50% Shares - 90 Days) | 2026 |
Mehul Telecom IPO DATES
| IPO Open Date | April 17, 2026 |
|---|---|
| IPO Close Date | April 21, 2026 |
| Basis of Allotment | April 22, 2026 |
| Refunds | April 23, 2026 |
| Credit to Demat Account | April 23, 2026 |
| IPO Listing Date | April 24, 2026 |
| Bidding Cut-off Time | April 21, 2026 – 5 PM |
Mehul Telecom IPO Promoters & Holding PATTERN
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 76,22,000 | 94.25% |
| Promoter Holding Post Issue | 1,04,51,600 | — |
| Promoters |
|---|
| Mehul Vasantbhai Raymagiya and Raymagiya Hemali Mehulbhai |
Mehul Telecom IPO – Objects of the ISSUE
| Purpose | Amount (₹ Cr.) |
|---|---|
| Funding Working Capital Needs | 22.95 |
| General Corporate Purpose | — |
About Mehul Telecom IPO
Since its incorporation in 2023, Mehul Telecom has been a leading mobile retail chain company offering smartphones and related accessories. Founded by Mr. Mehul Raimagiya, the firm generates its sales via a hybrid “COCO” (Company Owned, Company Operated) and “FOFO” (Franchisee Owned, Franchisee Operated) retail model.
Its product portfolio includes smartphones and tablets of all famous brands, including MI, Samsung, iPhone, Vivo, Oppo, Realme, Nokia, OnePlus, Redmi, Nothing, Tecno, Intel, Infinix, Xiaomi, and other brands. Along with smartphones, the firm also sells a range of accessories, speakers, smartwatches, earphones, headsets, tablets, mobile covers, phone chargers, screen guards, power banks, fire sticks, car holders, and pen drives of major brands. Moreover, the company includes a total of 27 employees as of March 31, 2026.
Mehul Telecom IPO Company Financial REPORT
| Period Ended | Revenue (₹ Cr.) | Expense (₹ Cr.) | PAT (₹ Cr.) |
|---|---|---|---|
| 2023 | 80.27 | 79.56 | 0.51 |
| 2024 | 107.37 | 104.40 | 2.19 |
| 2025 | 121.02 | 112.96 | 6.04 |
| Dec 2025 | 152.02 | 142.50 | 7.07 |
Mehul Telecom IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE | 59.84% |
| ROCE | 47.16% |
| EBITDA Margin | 6.63% |
| PAT Margin | 5.00% |
| Debt to Equity | — |
| EPS (Basic) | ₹8.30 |
| P/E Ratio | N/A |
| RoNW | 35.31% |
| NAV | ₹23.49 |
Mehul Telecom IPO Peer Group COMPARISON
| Company | EPS | P/E Ratio | RoNW % | NAV | Income (₹ Cr.) |
|---|---|---|---|---|---|
| Fonebox Retail Limited | 4.43 | 20.96 | 13.18% | 33.62 | 342.73 |
| Jay Jalaram Technologies Limited | 2.87 | 54.98 | 10.02% | 56.81 | 339.09 |
| Bhatia Communications & Retail (India) Limited | 1.10 | 421.86 | 15.56% | 7.08 | 442.72 |
IPO Lead Managers aka Merchant BANKERS
- Cumulative Capital Pvt.Ltd.