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Here are the important dates you need to know in order to participate in this IPO
Offer Start Date
17th Apr
Offer End Date
21st Apr
Allotment Date
22nd Apr
Refund Initiation
23rd Apr
Demat Transfer
23rd Apr
Listing Date
24th Apr
Mehul Telecom Limited, incorporated in May 2023, operates as a multi-brand mobile retail chain offering smartphones, tablets, and related accessories in Gujarat. The company follows a hybrid retail structure comprising Company Owned Company Operated (COCO) stores and Franchise Owned Franchise Operated (FOFO) outlets, enabling a combination of direct retail presence and franchise-led expansion. Its product portfolio includes devices from multiple smartphone brands active in India, along with a range of connected lifestyle products such as wearables, audio devices, and power-related accessories. The company also facilitates omnichannel payment options, including UPI, mobile wallets, and point-of-sale systems across its outlets.
In addition to mobile handsets, the company offers a broad selection of accessories, including chargers, earphones, screen guards, power banks, and other peripherals such as storage devices or utility accessories sourced from various brands. Its operations are supported by a workforce of 27 employees as of March 31, 2026. The business is conducted under the brand name “Mehul Telecom,” with a focus on retailing consumer electronics and mobile-related products through its store network. The hybrid operating model allows the company to maintain control over certain outlets while also leveraging franchise partnerships to extend its retail footprint within its operational region.
| Pre-Issue | Post-Issue | |
|---|---|---|
| Promoter Group | 94.25% | 68.74% |
| Public Group | 5.75% | 31.26% |
| QIB Shares Offered | 5,50,800 (19.47%) |
| NII (HNI) Shares Offered | 4,03,200 (14.25%) |
| Retail Shares Offered | 9,42,000 (33.29%) |
| Anchor Investor Shares Offered | 7,89,600 (27.91%) |
| Total Shares Offered | 28,29,600 |
| Total Shares With Anchor Investor | 28,29,600 |
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,35,200 |
| Retail (Max) | 2 | 2,400 | ₹2,35,200 |
| S HNI (Min) | 3 | 3,600 | ₹3,52,800 |
| S HNI (Max) | 8 | 9,600 | ₹9,40,800 |
| B HNI (MIN) | 9 | 10,800 | ₹10,58,400 |
| Bid Date | April 16, 2026 |
| KFin Technologies Ltd | |
|---|---|
| Phone Number | +91 40 6716 2222 |
| Email Id | mehul.ipo@kfintech.com |
| Website | www.kfintech.com |
1. Cumulative Capital Private Limited
| March 31, 2025 | March 31, 2024 | March 31, | |
|---|---|---|---|
| Net Worth | ₹17.1 Cr | ₹0.09 Cr | ₹ Cr |
| Reserves and Surplus | ₹9.48 Cr | ₹-0.01 Cr | ₹ Cr |
| Total Borrowing | ₹0.07 Cr | ₹0 Cr | ₹ Cr |
| Category | No. of shares offered | No. of shares bid | Subscription (Times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 5,49,600 | 1,78,60,800 | 32.5 |
| Non Institutional Investors (NIIs) | 5,47,200 | 3,21,50,400 | 58.75 |
| Retail Individual Investors (RIIs) | 9,43,200 | 3,52,82,400 | 37.41 |
| Total | 20,40,000 | 8,52,93,600 | 41.81 |
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India’s electronics manufacturing sector is projected to expand to approximately US$ 540 billion by 2025, compared to an estimated demand of US$ 215 billion in FY19, indicating a notable increase in market size.
The industry has recorded consistent expansion, with a compound annual growth rate (CAGR) of around 14% between 2016 and 2019, followed by an estimated CAGR of 16.6% for the period from FY19 to FY25.
The Electronics System Design and Manufacturing (ESDM) segment is expected to reach nearly US$ 220 billion by FY25, reflecting continued development within this category.
Within the ESDM space, segments such as Information Technology and Office Automation (IT/OA), industrial electronics, and automotive electronics have recorded relatively higher growth rates compared to other categories.
Trade data indicates a dynamic trade environment, with electronic goods imports reported at approximately US$ 73.46 billion and exports at around US$ 22.68 billion in FY23.
In terms of product-specific trends, smartphone shipments reached approximately 168 million units in calendar year 2021, reflecting shipment volumes within the segment.
Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for Mehul Telecom IPO.
Mehul Telecom Ltd IPO is a SME IPO of 28,29,600 equity shares of a face value of ₹10 aggregating up to ₹27.73 Crores. The issue is priced at ₹96 to ₹98 per share. The minimum order quantity is 1200 Shares. The IPO opens on April 17, 2026, and closes on April 21, 2026. KFin Technologies Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE-SME.
The Mehul Telecom Ltd IPO opens on April 17, 2026 and closes on April 21, 2026.
Mehul Telecom Ltd lot size is 1200 shares, and the minimum amount required is ₹2,35,200.
You can apply in Mehul Telecom Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:
The finalization of Basis of Allotment for Mehul Telecom Ltd IPO will be done on April 22, 2026, and the allotted shares will be credited to your demat account by April 23, 2026.
The Mehul Telecom Ltd listing date is April 24, 2026.
The registrar of Mehul Telecom Ltd IPO is KFin Technologies Ltd
Cumulative Capital Private Limited will be the book-running lead manager of this IPO.
The fresh issue size is ₹27.73 Crores equity shares.
Retail investors can subscribe to a minimum of one lot, 1200 shares and ₹2,35,200 amount.
To apply for Mehul Telecom Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.
The price of each Mehul Telecom Ltd share will be ranging in between ₹96 to ₹98 per share.
The cut-off time for the UPI mandate confirmation is 5:00 PM, April 21, 2026.
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