Vinit Mobile IPO

Vinit Mobile is engaged in the multi-brand mobile retail business. The company sells smartphones from leading brands including Apple, OnePlus, Motorola, Samsung, Vivo, Oppo, Realme and Xiaomi. Apart from mobile phones, the company also offers tablets, data cards, and a wide range of accessories, such as earphones, chargers, power banks, screen guards, and mobile covers, through its retail outlets. As of the date of the RHP, the company operates 35 company-owned stores across the Surat district of Gujarat and the Jaipur district of Rajasthan.

The company follows a Company-Owned Company-Operated (COCO) model. Under this structure, all stores are directly managed by the company, which handles staff recruitment and training, inventory planning, stock replenishment, pricing, promotional activities, and customer service. The company has tie-ups with financial institutions such as Bajaj Finserv, HDB Financial Services and TVS Credit, which enable customers to purchase products through EMI and financing schemes. Apart from retail sales, it also undertakes B2B business, supplying mobile phones and accessories in bulk to small and medium retailers as well as corporate customers.

The company operates through three retail brands: Vinit Mobile Limited, VR Mobile and RJ Mobile. As of the date of RHP, the company operated 24 stores under Vinit Mobile Limited, 8 stores under VR Mobile and 3 stores under RJ Mobile. Retail stores have grown from 19 in FY24 to 35 as of the date of RHP. Average revenue per store per annum increased from ₹0.22 lakhs in FY23 to ₹249.95 lakhs in FY25. The company derives most of its business from mobile phone sales. Mobile phones contributed 96.59% of revenue from operations during 9MFY26, compared with 97.65% in FY25, while accessories and appliances together contributed the remaining revenue. Sales channel-wise, B2C retail sales remain the company's largest revenue contributor. B2C sales accounted for 62.45% of revenue during 9MFY26 and 67.70% in FY25. Revenue contribution from B2B sales increased from 14.36% in FY24 to 37.55% during 9MFY26.