Mehul Telecom IPO Day 3: Check subscription status, allotment date and steps

Mehul Telecom IPO: Mobile retail chain Mehul Telecom's initial public offering will conclude on Tuesday, April 21. As of day 2, the issue was subscribed to 9.28 times.

It got bids for 1,89,37,200 shares as against 20,40,000 shares on offer, according to the BSE data.

Non-institutional investors subscribed their part 17.08 times, while individual investors' quota was booked 9.36 times. The portion reserved for qualified institutional buyers (QIBs) was subscribed 1.38 times.

The initial share sale, with a price band of ₹96 to ₹98 per share, sought to raise ₹27.73 crore via fresh issuance of 28,29,600 shares.

The objectives of the offer include funding working capital requirements, general corporate purposes and issue-related expenses.

A lot consists of 1,200 shares. The minimum investment for an individual investor is two lots or 2,400 shares.

Mehul Telecom is a multi-brand mobile retail chain providing smartphones and other electronic products and accessories. Its retail portfolio includes products from leading smartphone and phone accessory manufacturers, viz., OnePlus, Vivo, Oppo, Samsung, MI, Infinix, Realme, Nothing, Tecno, Nokia, Intel, Redmi, Xiaomi and other popular brands.

Mehul Telecom IPO: Allotment and listing date

The basis of the allotment of Mehul Telecom is expected to be finalised on April 22. The listing on the BSE SME platform will take place on April 24.

How to check Mehul Telecom IPO allotment status on KFin Technologies website

• Visit the official website of registrar: https://ipostatus.kfintech.com/
• In the ‘Select IPO’ dropdown menu, select 'Mehul Telecom'
• Add your IPO application number, Demat account number or PAN
• Click on ‘Submit’

Steps to check Mehul Telecom allotment status on BSE

• Visit this link: https://bseindia.com/investors/appli_check.aspx.
• Keep 'Equity' as the issue type
• From the ‘Issue Name’ list, pick ‘Mehul Telecom Ltd’
• Add either your PAN details or IPO application number
• Press the ‘Search’ button

Mehul Telecom IPO GMP

According to investorgain.com and media reports, unlisted shares of Mehul Telecom Ltd are trading at ₹103, reflecting a grey market premium (GMP) of 5.10% compared to the upper price band of ₹98.