The Mehul Telecom Private Limited IPO has opened for subscription today, April 17, 2026, and will remain open until April 21, 2026.
This is an SME IPO and is already getting attention due to its activity in the grey market.
If you are planning to invest, here’s a simple breakdown of all the important details.
Price Band, Lot Size and Minimum Investment
The IPO price band has been set between ₹96 to ₹98 per share.
The company has fixed a lot size of 1,200 shares, but retail investors must apply for at least 2 lots.
This means the minimum investment comes to ₹2,35,200.
Before opening for the public, the company raised ₹7.74 crore from anchor investors on April 16, which shows early investor interest.
GMP and Listing Expectations
The Grey Market Premium (GMP) for the IPO is currently around ₹4.5 per share.
This suggests a possible listing gain of around 4–5%, though GMP is unofficial and can change anytime.
Still, a positive GMP indicates moderate demand in the market.
IPO Size and Key Details
The total IPO size is ₹27.73 crore, and it is entirely a fresh issue of shares.
The company will issue about 28 lakh new shares, and no existing investors are selling their stake in this IPO.
The stock will be listed on the BSE SME platform.
The IPO is being managed by Cumulative Capital Pvt. Ltd., while KFin Technologies is handling the registrar responsibilities.
What Does the Company Do?
Mehul Telecom runs a multi-brand retail business focused on smartphones and related accessories.
It sells a wide range of products, including:
Smartphones
Smartwatches and audio devices
Earphones, headphones, and speakers
Mobile accessories like chargers, covers, and power banks
The company operates through both company-owned stores and franchise outlets.
Interestingly, around 97% of its revenue comes from mobile phone sales, showing its strong focus on this segment.
Founded in 2023, the company currently has a small team of just 27 employees.
How Will the IPO Money Be Used?
A large portion of the funds—about ₹22.95 crore—will be used for working capital needs.
This means the company plans to use the money to expand operations, manage inventory, and support daily business activities.
Should You Pay Attention?
The Mehul Telecom IPO is a small-sized SME issue with moderate grey market signals.
While the business is relatively new, the company is operating in a fast-growing mobile retail market.
However, investors should carefully consider factors like high minimum investment, company size, and risk before applying.
As always, it’s important to look beyond hype and evaluate fundamentals before investing.
