Mehul Telecom Lists at 10.20% Premium on BSE SME at Rs 108

Mehul Telecom Makes Strong Debut on BSE SME Platform

Mehul Telecom marked a robust entrance on the BSE SME platform, listing at Rs 108, a 10.20% increase from its issue price of Rs 98. The grey market had signaled a solid debut, indicating a positive start for the company.

The Rs 28 crore SME issue witnessed a significant response, with the company receiving bids nearly 45 times the issue size. The strong interest showed by high-net-worth investors, coupled with healthy retail demand, contributed to the impressive subscription figures.

Mehul Telecom operates a multi-brand mobile retail chain, selling smartphones and accessories through company-owned and franchise stores, primarily in Gujarat. The company's asset-light franchise model supports expansion, although it operates in a highly competitive market with thin margins.

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For the nine months ended December 2025, Mehul Telecom reported revenue of over Rs 150 crore and a profit of around Rs 7 crore. The IPO proceeds will be utilized mainly for working capital needs.

IPO Market Sees Slow Start in 2026

India's IPO market has seen a sluggish start in 2026, with only 20 companies launching public issues so far this year. Activity in the primary market remained subdued due to heightened volatility in domestic equities following the US-Israel-Iran conflict and heavy selling by foreign institutional investors (FIIs).

The Nifty50 and Sensex fell over 11% in March 2026, negatively impacting investor sentiment and prompting several companies to delay listing plans. Many firms are waiting for market conditions to stabilize before launching IPOs at better valuations and pricing.

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Around 144 companies with Sebi approval are planning to raise nearly Rs 1.75 lakh crore, while another 63 firms are awaiting regulatory clearance. Overall, IPOs worth nearly Rs 3 lakh crore are currently in the pipeline.