Mehul Telecom IPO
Market Sentiment
IPO Details
IPO Reservation
Day-wise Subscription (times subscribed)
Financial Analysis
| Metric | 2023 | 2024 | 2025 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 80.27 | 107.37 | 121.02 | 152.02 |
| Expense | 79.56 | 104.40 | 112.96 | 142.50 |
| Profit (PAT) | 0.51 | 2.19 | 6.04 | 7.07 |
| Total Assets | - | - | - | - |
Market Lot Size
| Company | EPS | P/E | Market Cap (Cr) |
|---|---|---|---|
| Fonebox Retail limited | 4.43 | 20.96 | 13 |
| Jay Jalaram Technologies Limited | 2.87 | 54.98 | 10 |
| Bhatia Communications &Retail (India) Limited | 1.10 | 21.86 | 16 |
Promoters: Mehul Vasantbhai Raymagiya and Raymagiya Hemali Mehulbhai
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 76,22,000 | 94.25% |
| Promoter Holding Post Issue | 1,04,51,600 | 68.73% |
Strengths & Risks
- Heavily oversubscribed — 41.8x overall (so far).
- Strong institutional (QIB) demand — 32.5x.
- Strong return on equity — 60%.
No major red flags in the available data.
Auto-generated from live GMP, subscription, valuation and financial data. Informational only — not investment advice. Always read the RHP before applying.
Company Information
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.
| Purpose | Amount (Cr) |
|---|---|
| Funding of working capital needs | 22.95 |
| General Corporate Purpose | - |
Resources & Documents
Mehul Telecom Ltd., West Gate Shop 223,, 150 Ft Ring Road,, Rajkot Raiya Road,, Rajkot, Gujarat, 360007
Mehul Telecom has set a price band of Rs 96–Rs 98 per share for an issue size of Rs 28 crore. The stock listed with a 10.20% gain versus its issue price on April 24, 2026.
Since its incorporation in 2023, Mehul Telecom has been a leading mobile retail chain company offering smartphones and related accessories. Founded by Mr.
The issue is promoted by Mehul Vasantbhai Raymagiya and Raymagiya Hemali Mehulbhai with Cumulative Capital Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding of working capital needs (Rs 23 crore) and General Corporate Purpose.
Grey market is quoting a premium of +Rs 3 (+3.1% over issue price), up Rs 3 from the previous session. Final subscription data records overall subscription at 41.78x, retail at 37.37x, QIB at 32.50x, NII at 58.73x.
On fundamentals, the company is posting revenue growth of 12.7%, a profit margin of 5.0%, return on equity of 59.8% in its most recent reported period. Listed peers in this segment include Bhatia Communications &Retail (India) Limited (P/E 21.86x, market cap Rs 16 crore) and Fonebox Retail limited (P/E 20.96x, market cap Rs 13 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as a Neutral stance — the data is mixed and the risk-reward is balanced rather than one-sided. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Mehul Telecom IPO GMP — What It Means
The latest grey market premium for Mehul Telecom IPO is ₹3 (+3.1%). GMP is an unofficial, dealer-quoted figure that hints at expected listing-day demand — it is not a guaranteed listing price. For Mehul Telecom it should be read alongside the subscription numbers and the company's fundamentals, since grey-market premiums can swing sharply during the bidding window.
See the full Mehul Telecom GMP history and trend, or learn how grey market premium works and how reliable it is.
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