Mehul Telecom IPO
Market Sentiment
Market Lot Size
IPO Details
IPO Reservation
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 | - | - | - | - |
| Company | P/E | EPS | Market Cap (Cr) |
|---|---|---|---|
| Fonebox Retail limited | 20.96 | 4.43 | 13 |
| Jay Jalaram Technologies Limited | 54.98 | 2.87 | 10 |
| Bhatia Communications &Retail (India) Limited | 21.86 | 1.10 | 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% |
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.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
Related IPO
No comments yet. Be the first to share your opinion!