BSE List Price : ₹108.00

subscription

Category	Times
QIBs	32.43x
HNIs	79.74x
Retail	37.45x
Total : 44.99x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	2	2,400	₹235,200
Retail Maximum	2	2,400	₹235,200
S-HNI Minimum	3	3,600	₹352,800
S-HNI Maximum	8	9,600	₹940,800
B-HNI Minimum	9	10,800	₹1,058,400

About the Company

Mehul Telecom Private Limited, incorporated in May 2023, operates as a multi-brand mobile retail chain using a hybrid model that combines COCO (Company Owned Company Operated) and FOFO (Franchise Owned Franchise Operated) formats.

The company offers a wide range of products, including smartphones, tablets, connected lifestyle devices, and various accessories such as earphones, smartwatches, chargers, and power banks.

Its portfolio features leading brands like Samsung, Apple (iPhone), Vivo, Oppo, Realme, OnePlus, Redmi, Nothing, Infinix, and Xiaomi, providing a strong and diverse brand mix.

Mehul Telecom has built a solid retail presence across Gujarat, with significant revenue contributions coming from key districts such as Rajkot and Morbi.

The company emphasizes offline retail growth, driven by a franchise-based expansion strategy that supports scalability while maintaining efficient capital utilization.

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2023	₹80.27	₹79.56	₹0.51	₹-
2024	₹107.37	₹104.40	₹2.19	₹34.41
2025	₹121.02	₹112.96	₹6.04	₹0.10
Dec 2025	₹152.02	₹142.50	₹7.07	₹54.41

Company Promoter

Mehul Vasantbhai Raymagiya

Raymagiya Hemali Mehulbhai

Know before investing

• • Strengths

  Experienced promoters and management team: A knowledgeable and seasoned leadership team drives effective operations and supports the company’s retail expansion plans.

  Comprehensive product portfolio: A broad selection of smartphones and accessories from top brands meets the needs of customers across various preferences and budget ranges.

• • Risks

  Store performance and expansion risk: Regular opening and closing of stores based on their performance exposes the company to risks related to site selection, demand forecasting, and the costs associated with shutting down outlets.

  Limited operating history risk: As a relatively new entrant, the company may encounter difficulties in scaling its operations and building long-term stability.

Objects of the Issue & Utilisation of proceeds

Funding of working capital needs.

General Corporate Purpose.

Company  Address

Mehul Telecom Ltd.
West Gate Shop 223,
150 Ft Ring Road,
Rajkot Raiya Road,
Rajkot, Gujarat, 360007
Phone: 0281 2991223
Email: info@mehultelecom.com
Website: http://www.mehultelecom.com/

IPO Registrar

Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: mehul.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/

IPO Review

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