The issue, of up to about Rs 28 crore, is entirely a fresh issue of 28.29 lakh shares, and will remain open for subscription until April 21. The company is expected to finalise allotment on April 22, with listing slated for April 24 on the BSE SME platform.
Given the SME structure, the IPO has relatively high entry thresholds. Retail investors are required to apply for a minimum of 2,400 shares, translating into an investment of around Rs 2.35 lakh at the upper price band.
The issue allocation is split with nearly 50% reserved for qualified institutional buyers, about 15% for non-institutional investors, and the remaining 35% for retail investors, reflecting a balanced distribution across categories.
Mehul Telecom operates a multi-brand retail business focused on smartphones and related accessories, using a hybrid model of company-owned and franchisee-operated stores. The company primarily operates in Gujarat and offers products from major smartphone brands along with accessories such as wearables, audio devices and power solutions.
Financially, the company has shown steady growth. For the nine months ended December 2025, it reported revenue of Rs 152 crore and profit after tax of Rs 7.07 crore, compared with Rs 5.74 crore profit in FY25, indicating improving earnings momentum.
Proceeds from the issue will be primarily used to fund working capital requirements, with the remainder allocated for general corporate purposes, supporting the company’s expansion plans.While the modest GMP suggests limited near-term listing gains, SME IPOs often see sharp movement post-listing based on demand-supply dynamics. The relatively small issue size and improving financial trajectory could support interest if subscription picks up.
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