Mehul Telecom Reports Strong Debut on BSE SME, Opens with 10.20% Premium at ₹108 Per Share

Mehul Telecom Makes Strong Debut on BSE SME

Mehul Telecom's share price made a positive debut on the BSE SME platform today, opening at ₹108, a 10.20% increase from the issue price of ₹98. This comes after the Mehul Telecom IPO started on Friday, April 17, and will conclude on Tuesday, April 21. The IPO price band was set at ₹96 to ₹98 per equity share, with a face value of ₹10.

Investors could bid for a minimum of 1,200 equity shares, with additional shares available in increments of 1,200. On the third bidding day, Mehul Telecom IPO subscription status was 31.706x, as per chittorgarh.com.

Mehul Telecom operates a retail network that features various mobile device brands, offering smartphones and accessories through both "COCO" (Company Owned, Company Operated) and "FOFO" (Franchisee Owned, Franchisee Operated) formats. The company advocates for connected lifestyle products and accessories, including wearables, audio gadgets, and power solutions such as speakers, smartwatches, earphones, headphones, tablets, mobile cases, phone chargers, screen protectors, power banks, phone warranty services, fire sticks, car mounts, USB drives, and much more from a wide range of brands.

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The allocation of issues was equitable, with around 50% allocated to qualified institutional buyers, roughly 15% for non-institutional investors, and the remaining 35% reserved for retail investors, showcasing a well-balanced distribution among the categories.

From a financial perspective, the company has shown steady growth. For the nine-month period ending December 2025, Mehul Telecom reported revenues of ₹152 crore and a post-tax profit of ₹7.07 crore, an increase from a profit of ₹5.74 crore in FY25, indicating a favourable trend in earnings.

Mehul Telecom IPO Details

The issue amounts to approximately ₹28 crore, involving the issuance of 28.29 lakh new shares. The company 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.

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IPO Allocation Breakdown

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.