Mehul Telecom IPO opens for subscription; check price band, lot size and key dates

Mehul Telecom IPO: The initial public offering of mobile retail chain Mehul Telecom opened for subscription on Friday, April 17. The issue will conclude on April 21. The price band has been fixed at ₹96 to ₹98 per share.

The ₹27.73 crore initial share sale is solely a fresh issuance of 28.29 lakh shares, with no offer for sale (OFS) component.

The company will use funds raised for funding working capital requirements, general corporate purposes and issue-related expenses.

"Our company plans to use the funds raised from this issue for the following key purposes and to gain the benefits of listing on the SME platform of BSE Limited. This includes improving our brand visibility and creating a public market for our equity shares in India," the firm said in its red herring prospectus (RHP).

Mehul Telecom IPO Day 1: Subscription details

The subscription details for the first day of the issue will be available post 10 am.

Mehul Telecom IPO: Lot size

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

Half of the net offer is set aside for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 35% for retail individual investors (RIIs).

Mehul Telecom IPO: Allotment and listing date

Mehul Telecom operates a multi-brand mobile retail chain offering smartphones and other electronic products and accessories via a hybrid 'COCO' (company-owned, company-operated) and 'FOFO' (franchisee-owned, franchisee-operated) retail model.

Its retail portfolio consists of products from leading smartphone and phone accessory manufacturers, viz., Samsung, OnePlus, Vivo, Oppo, MI, Infinix, Realme, Redmi, Nothing, Tecno, Nokia, Intel, Xiaomi and other popular brands. It also sells retail-connected lifestyle products and peripherals like air conditioners, washing machines, refrigerators, televisions, audio devices, wearables and power solutions like speakers, phone chargers, earphones, headphones, tablets, smartwatches, mobile covers, power banks, phone warranty plans, screen guards, car holder clamps, and pen drives, among other things of various brands.