Mehul Telecom IPO
Market Sentiment
IPO Details
Day-wise Subscription (times subscribed)
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| 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 |
Peer Comparison
| 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 & Holding Pattern
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
- Strongly subscribed — 45.0x overall (so far).
- Strong institutional (QIB) demand — 32.4x.
- Strong return on equity — 60%.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Mehul Telecom
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.
Company Contact Information
Mehul Telecom Ltd., West Gate Shop 223,, 150 Ft Ring Road,, Rajkot Raiya Road,, Rajkot, Gujarat, 360007
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Funding of working capital needs | 22.95 |
| General Corporate Purpose | - |
Resources & Documents
Anchor Investors
Mehul Telecom IPO - Quick Take
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.
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.
On our data-signal score, the combined signals for this issue currently read mixed — some indicators read positively and others do not. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Mehul Telecom IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
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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