Mehul Telecom IPO GMP, Price, Analysis, And Review

Mehul Telecom IPO – Company Analysis

Mehul Telecom IPO falls under the SME IPO category and is a book-built issue of Rs. 27.73 crore by Mehul Telecom Limited. The company operates a multi-brand mobile retail chain, offering smartphones and accessories through a hybrid “COCO” (Company Owned, Company Operated) and “FOFO” (Franchisee Owned, Franchisee Operated) retail model.

The company sells connected lifestyle products and peripherals such as wearables, audio devices, and power solutions including speakers, smartwatches, earphones, headphones, tablets, mobile covers, phone chargers, screen guards, power banks, phone warranty plans, fire sticks, car holder clamps, pen drives, etc., across multiple brands.

Business Vertical:

• Sales through Company-Owned Company-Operated Retail Stores (COCO Model)

• Sales through Franchise Owned Franchise Operated Outlets (FOFO Model)

Mehul Telecom IPO Details

The Mehul Telecom IPO opens on April 17, 2026, and closes on April 21, 2026. The allotment is expected on April 22, 2026, with refunds likely to be initiated on April 23, 2026.

This Rs. 27.73 crore SME IPO consists entirely of a fresh issue of 0.28 crore shares.

The expected listing date for the Mehul Telecom IPO is Friday, April 24, 2026, on the BSE SME platform.

The IPO price band is set at Rs. 96 to Rs. 98.

IPO Timetable (Tentative)

Click to open free demat account and apply for the IPO.

Company Financials 

(Amount in Cr)

Cash Flows

(Amount in lac)

Revenue Bifurcation

(Rs. in Lac)

                                  (Source: RHP)

Objective of the Issue

The company intends to utilize the Net Proceeds from the Issue for the following purposes:

• Funding working capital requirements – ~ Rs. 22.95 crore

• General corporate purposes
  

Listed Peers of Mehul Telecom Ltd. 

Valuation

Evaluation of P/E Ratio

Considering FY 2025, with an EPS of Rs. 8.30, the resulting P/E ratio stands at 11.80x.

IPO's Strengths 

• Extensive distribution network in Gujarat with a wide product range

• Experienced promoters and management team

• Strong customer experience and strategic store locations

• Minimal capital requirement for expansion

IPO's Weaknesses

• Geographical concentration

• Highly competitive segment

• Limited operating history
  

Mehul Telecom IPO GMP (Grey Market Premium)

Mehul Telecom IPO GMP today is ₹4.5, as of April 18, 2026, at the time of writing. Based on the upper price band of Rs. 98, the estimated listing price is Rs. 98. The expected gain/loss per share is 0%.

Mehul Telecom IPO Summary

IPO Lot Details 

Retail investors can apply for a minimum of 2 lots (2400 shares) amounting to Rs. 2,35,200, and in multiples thereafter. HNI investors can apply for a minimum of 3 lots (3600 shares) amounting to Rs. 3,52,800.

Mehul Telecom IPO Allotment Status

To check the Mehul Telecom IPO allotment status, you can visit the official Registrar’s website or the BSE website. Below are the direct links for your reference:

BSE Website - ​BSE IPO allotment status

Promoters And Management of Mehul Telecom Ltd.

• Mehul Vasantbhai Raymagiya

• Raymagiya Hemali Mehulbhai
  
  

IPO Lead Managers

• Cumulative Capital Pvt. Ltd.
  

Dividend Policy

The company has not declared or paid any dividends since its incorporation.

Conclusion

Mehul Telecom IPO is a small SME offering with decent profitability metrics and a relatively low price-to-earnings (P/E) ratio of around 11.8x compared to its peers. However, factors like zero GMP, limited operating history, and strong competition in the mobile retail segment indicate higher listing and business risk.

To Read the Company's Prospectus, Click Here to Download the DRHP.

DISCLAIMER: This blog is not a buy or sell recommendation. No investment or trading advice is provided. The content is purely for educational and informational purposes only. Always consult a qualified financial advisor before making any investment decisions.