Mehul Telecom IPO GMP today is Rs 10. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
MEHULTELECOM
Mehul Telecom IPO GMP, Subscription & Allotment Status Today
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.
- Price Band
- ₹96.00 - ₹98.00
- Lot Size
- 1,200 Shares
- Bidding Closes
- 21 Apr 2026
- Listing Date
- 24 Apr 2026
Current GMP Status
₹10
+10.2% vs upper band
Est. Listing Gain
+10.20%
Last Trend
22 Apr 2026
Listing Price
₹108.00
Retail Entry
₹2,35,200
IPO Details
Complete IPO information
| Current GMP | ₹10 |
|---|---|
| Estimated Listing Gain | +10.20% |
| Price Band | ₹96.00 - ₹98.00 |
| Issue Price | Approx ₹98.00 Crores |
| Listing Price | ₹108.00 |
| Lot Size | 1,200 Shares |
| Issue Type | SME |
| Registrar | TBA |
| Exchange | NSE, BSE |
| Retail Quota | TBA |
| Overall Subscription | 9.91x |
| Listing Date | 24 Apr 2026 |
| Minimum Investment | ₹2,35,200 |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Mehul Telecom is priced at ₹98 per share. With a minimum lot size of 1,200 shares, a retail investor applying for one lot would need approximately ₹2,35,200 to participate in this SME issue.
The latest recorded Grey Market Premium for Mehul Telecom stands at ₹10, implying an estimated listing gain of around 10.20% over the issue price if it holds until listing. This is down ₹2 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Mehul Telecom's IPO was subscribed 9.91x overall, with a category-wise breakdown of Retail 9.36x, QIB 1.38x.
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
17 Apr 2026
✓
Bidding Closes
21 Apr 2026
✓
Allotment
TBA
✓
Listing
24 Apr 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 22 Apr 2026 | ₹3.00 | -₹2.00 | 3.06% |
| 21 Apr 2026 | ₹5.00 | +₹0.50 | 5.10% |
| 17 Apr 2026 | ₹4.50 | +₹4.50 | 4.59% |
| 15 Apr 2026 | ₹0.00 | - | 0.00% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 2,400 | ₹2,35,200 |
| Retail Maximum | 2 Lot | 2,400 | ₹2,35,200 |
| S-HNI Minimum | 3 Lot | 3,600 | ₹3,52,800 |
| S-HNI Maximum | 8 Lot | 9,600 | ₹9,40,800 |
| B-HNI Minimum | 9 Lot | 10,800 | ₹10,58,400 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Analysis
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 |
Analysis
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% |
Analysis
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 |
Analysis
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 |
Analysis
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 |
Analysis
Mehul Telecom IPO – Objects of the Issue
| Purpose | Amount (₹ Cr.) |
|---|---|
| Funding Working Capital Needs | 22.95 |
| General Corporate Purpose | — |
Analysis
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.
Analysis
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 |
Analysis
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 |
Analysis
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 |
Analysis
IPO Lead Managers aka Merchant Bankers
- Cumulative Capital Pvt.Ltd.
FAQ
Mehul Telecom IPO FAQs
Mehul Telecom IPO price band is Rs 96.00 to Rs 98.00. Check the latest issue price, lot size and GMP together before applying.
Mehul Telecom IPO open date is 17 Apr 2026, close date is 21 Apr 2026, and listing date is 24 Apr 2026.
Mehul Telecom IPO lot size is 1,200 shares. The minimum retail investment is Rs 2,35,200.
Mehul Telecom is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Mehul Telecom IPO subscription status currently shows Retail 9.36x, QIB 1.38x, Overall 9.91x.
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.
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