Mehul Telecom Ltd IPO opens on April 17, 2026, and closes on April 21, 2026. The IPO has a price band of ₹96 to ₹98 per share, a lot size of 1,200 shares, and a minimum application of 2 lots (2,400 shares). The issue size is ₹27.73 crore, and the shares will list on the BSE-SME platform.
In this guide, you will get the IPO dates, price, lot size, company overview, financial snapshot, strengths, risks, and more informed call.
Mehul Telecom Ltd IPO: Quick Summary
Here is the most important information at a glance:
- IPO Type: SME IPO
- IPO Open Date: April 17, 2026
- IPO Close Date: April 21, 2026
- Price Band: ₹96 to ₹98 per share
- Lot Size: 1,200 shares
- Minimum Lots: 2 lots (2,400 shares)
- Minimum Retail Investment: ₹2,35,200 at the upper band
- Issue Size: about ₹27.73 crore
- Listing Exchange: BSE-SME
- Tentative Listing Date: April 24, 2026
About Mehul Telecom Ltd
Mehul Telecom is a Gujarat-based multi-brand mobile retail chain focused on smartphones and related accessories. Its product mix includes smartphones, tablets, wearables, audio devices, chargers, earphones, speakers, smartwatches, and similar connected products. The business appears to operate through a hybrid COCO and FOFO model, giving it a retail-plus-franchise expansion structure.
The company is a pureplay retail distribution and consumer electronics player, built around mobile devices, store network execution, brand assortment, and regional presence. The competitor snippets also point to a regional retail-led model concentrated in Gujarat. That distinction is important for investors evaluating the business correctly. Many Gujarat SME IPO investors track sentiment, so they understand what is GMP in IPO before they rely on grey market numbers.
Why Is Mehul Telecom Raising Money?
Mehul Telecom plans to use IPO proceeds mainly for:
- Working capital needs
- General corporate purposes
Retail businesses need steady working capital because they must stock fast-moving models, manage vendor credit cycles, and fund store operations.
Financial Snapshot
| Particulars | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 |
| Assets | 54.41 | 0.10 | 34.41 |
| Total Income | 152.02 | — | 115.47 |
| Profit After Tax (PAT) | 7.07 | 5.74 | -0.01 |
| EBITDA | 9.71 | 8.02 | 3.04 |
| Net Worth | 24.18 | 17.10 | 0.09 |
| Reserves & Surplus | 16.55 | 9.48 | -0.01 |
| Total Borrowing | 3.72 | 0.07 |
Strengths of Mehul Telecom Ltd
1. Focused retail business model
The company appears concentrated on mobile phones and accessories rather than spreading into too many unrelated segments. That can help with operating focus.
2. Multi-brand product offering
A wider product range across smartphones, wearables, chargers, speakers, and related devices allows broader customer coverage.
3. Franchise-supported expansion
The company follows an asset-light FOFO model, which supports faster scale without requiring huge capex
4. Regional strength
Mehul has a strong presence in Gujarat, particularly in and around Rajkot and Morbi. A strong local base can help repeat demand and operational familiarity.
Risks of Mehul Telecom Ltd
1. Geographic concentration risk
The company’s business appears concentrated in Gujarat, with meaningful revenue dependence on a limited region. Any slowdown, saturation, or disruption there can directly affect performance.
2. Low-margin retail business
Consumer electronics retail is often a high-volume, low-margin business. That means execution quality matters a lot, and even small demand or pricing pressures can affect profitability.
3. Intense competition
The business faces pressure not only from offline peers but also from online retailers that can discount aggressively and operate with a wide assortment.
4. Customer concentration
A substantial portion of revenue may depend on a limited set of customers or channels. That makes revenue stability more sensitive.
5. Store expansion and closure risk
Retail growth depends on store productivity, location selection, product mix, and footfall. Poor site selection or weak outlet performance can affect returns.
Final Thoughts
The Mehul Telecom Ltd IPO looks like a regional, consumer-retail-led SME issue rather than a pure market-hype story. That means investors should focus less on noise and more on fundamentals. At the upper band of the offer price of Rs 98, the asking price is almost 10.9x its annualised EPS of Rs 9. Risk-appetite investors may consider subscribing to the offer. If you are applying for a Gujarat-based SME issue like Mehul Telecom, read this simple guide on the IPO allotment process to understand allotment, refunds, and credit timelines.
