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Mehul Telecom IPO
5.16xsubscribed

Mehul Telecom IPO

Telecommunication - Equipment
listed
₹2.30LMin. investment

Mehul Telecom Limited IPO Details

SectorTelecommunication - Equipment
Price range₹96.00 – ₹98.00
IPO type
SME
Lot size1200 shares
Issue size₹28Cr
Red Herring Prospectus
Read
Market cap
₹102.43CrLower than sector avg
RevenueApr 8 - Mar 9
₹120.89CrLower than sector avg
Growth rate3Y CAGR
22.81%

Mehul Telecom IPO Subscription Status

Date
QIB
NII
Retail
Total
17-Apr-26
1.34 times (X)
9.82 times (X)
2.34 times (X)
3.64 times (X)
20-Apr-26
1.34X
14.22X
3.51X
5.16X

As on 17-Apr-26, 5:30 PM

Mehul Telecom IPO Timeline

  1. Pre-apply
    15 Apr 2026
  2. Bid start
    17 Apr 2026
  3. Bid end
    21 Apr 2026
  4. Allotment
    22 Apr 2026
  5. Release of funds
    23 Apr 2026
  6. Demat transfer
    23 Apr 2026
  7. Listing
    24 Apr 2026

About Mehul Telecom Limited

Incorporated in 2023, Mehul Telecom is a multi-brand mobile retail chain headquartered in Gujarat and specialises in selling smartphones, electronic goods, and accessories. The company offers a wide range of smartphones and tablets from leading brands, along with accessories and consumer electronics. Mobile phones contribute 98.63% of the revenue mix, while others contribute 1.37% of sales. The company stocks about 1,100 models of smartphones and 500 models of accessories.
The company operates on a mixed retailing strategy that involves company-owned, company-operated (COCO) and franchisee-owned, franchisee-operated (FOFO) models. The company has 80 stores in Gujarat across different districts. Out of 80 stores, six are COCO and 74 are FOFO stores. On COCO, the company incurs all the operating expenses and earns revenues directly. However, on FOFO, the company provides inventory on a refundable deposit basis, pays all operating expenses, and earns revenues while sharing the profit margins with the franchisee partners.
In terms of geography, Rajkot represents the major market share, as it generates 65.26% of the total sales revenue as of December 31, 2025, with 21 outlets. Morbi is the second-largest contributor at 17.10%. The head office of the organisation is in Rajkot, which also serves as the main operations center for the firm. COCO shops have increasingly accounted for a rising proportion of total income. In 9MFY26, the COCO shops have earned ₹110.09 crore, making up 72.43% of total income, whereas the FOFO shops have earned ₹41.90 crore, making 27.57% of total income.

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Objectives of Mehul Telecom Limited IPO

Working capital
81.90%
The company will utilise ₹22.95 crore for funding the working capital of the business.
General corporate purposes
18.10%
Part of the IPO proceeds will be used for general corporate purposes and issue expenses

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratio
This IPO₹120.89Cr22.81%₹6.04Cr₹102.43Cr11.81
This sector (avg.)₹475.26Cr----₹40.81Cr₹2,731.8Cr21.53
₹3,616.42Cr----₹214.89Cr₹27,821.61Cr---
₹5,966.91Cr---₹204.78Cr₹8,783.26Cr40.04
₹249.13Cr---₹56.45Cr₹4,128.86Cr257.19

*Revenue for financial year 8-9. Lower P/E and D/E ratios are generally preferred.

Mehul Telecom IPO Contact Details

Company NameMehul Telecom Limited

How to apply for Mehul Telecom IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Mehul Telecom Limited IPO FAQs