Mehul Telecom IPO Exceeds Subscription Target 21 Times After Three Days

Mehul Telecom IPO Sees Strong Subscription on Final Day

The Mehul Telecom Initial Public Offering (IPO) concluded on Tuesday, April 21, after starting on Friday, April 17. The IPO price band was set at ₹96 to ₹98 per equity share, with a face value of ₹10. Investors were able to bid for a minimum of 1,200 equity shares, with additional shares available in increments of 1,200.

Mehul Telecom operates a retail chain that showcases a variety of mobile device brands, providing smartphones and accessories through a combination of "COCO" (Company Owned, Company Operated) and "FOFO" (Franchisee Owned, Franchisee Operated) formats. The company promotes connected lifestyle products and accessories, which encompass wearables, audio devices, and power solutions such as speakers, smartwatches, earphones, headphones, tablets, mobile cases, phone chargers, screen protectors, power banks, phone warranty options, fire sticks, car mounts, USB drives, and more from a diverse selection of brands.

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

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From a financial standpoint, Mehul Telecom has demonstrated consistent growth. For the nine-month period concluding in December 2025, the company reported revenues of ₹152 crore and a profit after tax of ₹7.07 crore, which is an increase from a profit of ₹5.74 crore in FY25, reflecting a positive trend in earnings.

Mehul Telecom IPO Subscription Status

The Mehul Telecom IPO subscription status is 21.81x on day 3 so far, as per chittorgarh.com. The retail portion was subscribed 20.88x, and NII portion is booked 48.20x. The QIB segment is booked 4.05x.

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The company has received bids for 4,13,55,600 shares against 18,96,000 shares on offer on the third bidding day, at 13:34 IST, according to data on chittorgarh.com.

Mehul Telecom aims to complete the share allotment by April 22, with plans for listing on the BSE SME platform set for April 24. The proceeds from this issuance will mainly be directed towards meeting working capital needs, while any remaining funds will be used for general corporate purposes to support the company’s growth initiatives.

Cumulative Capital Pvt Ltd serves as the lead manager for the issue, with Kfin Technologies Ltd named as the registrar. Nikunj Stock Brokers Ltd has been appointed as the market maker for the company.