Mehul Telecom IPO
Retail • ₹27.73 Cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- SME listing with thinner post-listing liquidity
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹98
Lot Size
1200 shares
Issue Size
₹27.73 Cr
Open
17 Apr 2026
Close
21 Apr 2026
Subscription
41.2×
IPO Schedule
| Issue Open Date | 17 Apr 2026 |
| Issue Close Date | 21 Apr 2026 |
| Listing Date | 23 Apr 2026 |
About Mehul Telecom
Mehul Telecom Limited operates a multi-brand mobile retail chain offering smartphones, electronic products, and accessories through a mix of company-owned, company-operated (COCO) and franchisee-owned, franchisee-operated (FOFO) stores. The company sells products from various brands, including smartphones and related accessories, along with other consumer electronics such as televisions, air conditioners, refrigerators, wearables, audio devices, and power solutions. It also provides peripherals like chargers, earphones, power banks, and mobile accessories. The company operates under the brand name “Mehul Telecom” and supports omnichannel payment options, including UPI and digital wallets. As of the prospectus date, it operates 80 stores across Gujarat, comprising 6 COCO stores and 74 FOFO stores. The company is registered in Rajkot, Gujarat, which also serves as its central office for managing operations and supporting its retail network.
Company Details
Founders / Promoters
Mr. Mehul Vasantbhai Raymagiya
Founded
2023
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Mehul Telecom — IPOFins Verdict
QuantitativeDriven by QIB demand at 32.5x and moderate disclosed risk (6/10), Mehul Telecom listed at a premium of 10.2% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- The company is led by its promoters, who have over 17 years of experience in the retail sale of smartphones and accessories. They are actively involved in both strategic planning and day-to-day operat
- Mehul Telecom claims to have an extensive retail network of 80 stores across Gujarat, comprising 6 COCO stores and 74 FOFO stores. This network is spread across multiple districts, enabling wider mark
- The company claims to offer a diversified product portfolio with a large number of SKUs, including smartphones and accessories from multiple brands. Its product range also extends to consumer electron
- The company operates a hybrid COCO and FOFO model, which allows it to expand its store network with relatively lower capital requirements. This structure enables the company to scale operations while
- Mehul Telecom claims to position its stores in high-traffic locations to drive customer footfall. It also claims to provide in-store product demonstrations and assisted selling through trained staff.
Score breakdown — what drove this verdict
Moderate risk from DRHP → score -0.4
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → score +0.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹98
Listing Price
₹108
Listing Gain/Loss
+10.20%
Listing Date
23 Apr 2026
Price Since Listing
Returns are measured against the ₹98 issue price.
Listing
₹108
+10.2%
1 Week
₹118.31
+20.7%
1 Month
₹98.05
+0.1%
3 Months
₹91
-7.1%
Current
₹92
-6.1%
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FAQ
What is the price band of Mehul Telecom IPO?
The price band is ₹98 per share with a lot size of 1200 shares. Minimum investment: ₹1,17,600.
What does Mehul Telecom do?
Mehul Telecom Limited operates a multi-brand mobile retail chain offering smartphones, electronic products, and accessories through a mix of company-owned, company-operated (COCO) and franchisee-owned, franchisee-operated (FOFO) stores. The company sells products from various brands, including smartphones and related accessories, along with other consumer electronics such as televisions, air conditioners, refrigerators, wearables, audio devices, and power solutions. It also provides peripherals like chargers, earphones, power banks, and mobile accessories. The company operates under the brand name “Mehul Telecom” and supports omnichannel payment options, including UPI and digital wallets. As of the prospectus date, it operates 80 stores across Gujarat, comprising 6 COCO stores and 74 FOFO stores. The company is registered in Rajkot, Gujarat, which also serves as its central office for managing operations and supporting its retail network.
Should I apply for Mehul Telecom IPO?
Mehul Telecom listed at ₹108 (+10.2% premium to the ₹98 issue price) after 41.2x subscription. IPOFins Score 7/10: Driven by QIB demand at 32.5x and moderate disclosed risk (6/10), Mehul Telecom listed at a premium of 10.2% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded Mehul Telecom?
Mehul Telecom was founded by Mr. Mehul Vasantbhai Raymagiya in 2023.