Mehul Telecom IPO Sees Strong Demand on First Day with 65% Booking, Non-Institutional Investors Drive Interest

Mehul Telecom IPO Sees Strong Response on First Day

The Mehul Telecom IPO, which began on Friday, April 17, has garnered significant interest from investors. The issue is set to conclude on Tuesday, April 21, with a price band of ₹96 to ₹98 per equity share, each having a face value of ₹10. Investors were allowed to place bids for a minimum of 1,200 equity shares, with additional shares to be bid in multiples of 1,200.

Mehul Telecom Private Ltd operates a multi-brand retail chain for mobile devices, providing smartphones and accessories through a combined "COCO" (Company Owned, Company Operated) and "FOFO" (Franchisee Owned, Franchisee Operated) model. The company sells connected lifestyle products and peripherals, including wearables, audio devices, and power solutions such as speakers, smartwatches, earphones, headphones, tablets, mobile cases, phone chargers, screen protectors, power banks, phone warranty plans, fire sticks, car holders, USB drives, and more from various brands.

The allocation of issues is divided nearly evenly, with approximately 50% set aside for qualified institutional buyers, around 15% for non-institutional investors, and the remaining 35% designated for retail investors, demonstrating a well-balanced distribution among the categories.

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On the financial front, the company has demonstrated consistent growth. For the nine-month period ending December 2025, it reported revenues of ₹152 crore and a profit after tax of ₹7.07 crore, up from a profit of ₹5.74 crore in FY25, highlighting an upward trend in earnings.

The Mehul Telecom IPO GMP today is +4.5. Considering the upper end of Mehul Telecom price band and the current premium in the grey market, the estimated listing price of Mehul Telecom share price was indicated at ₹102.5 apiece, which is 4.59% higher than the IPO price of ₹98. According to the grey market activities from the past eight sessions, today's IPO GMP is on the rise, indicating a solid listing.

The company has received bids for 12,40,800 shares against 18,96,000 shares on offer on the first bidding day, at 12:09 IST, according to data on chittorgarh.com. Mehul Telecom IPO details show that the issue amounts to approximately ₹28 crore, comprising a new issue of 28.29 lakh shares. The company aims to finalize the allotment by April 22, with the listing planned for April 24 on the BSE SME platform. Funds raised from the issue will primarily be utilized to meet working capital needs, while the remaining amount will be directed towards general corporate purposes to support the company’s expansion initiatives.

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Cumulative Capital Pvt. Ltd acts as the book running lead manager, while Kfin Technologies Ltd serves as the registrar for this issue. Nikunj Stock Brokers Ltd is designated as the Market Maker for the company.