Incorporated in May 2023, Mehul Telecom Private Limited is multi-brand mobile retail chain offering smartphones and accessories through a hybrid “COCO” (Company Owned, Company Operated) and “FOFO” (Franchisee Owned, Franchisee Operated) retail model.
The company retail connected lifestyle products and peripherals such as wearables, audio devices, and power solutions like speakers, smartwatch, ear phones, head phones, tablets, mobile covers, phone chargers, screen guards, power banks, phone warranty plans, fire sticks, car holder clamps, pen drive etc. of various brands.
Business Vertical:
- Sales through Company Owned Company Operated Retail Stores (COCO Model)
- Sales through Franchise Owned Franchise Operated Outlets (FOFO Model)
Product Portfolio:
- Smart Phones and Tablets of all major brands operational in India like MI, Samsung, iPhone, Vivo, Oppo, Realme, Nokia, OnePlus, Redmi, Nothing, Tecno, Intel, Infinix, Xiaomi and other popular Brands in Gujarat.
- Allied accessories like speakers, smartwatch, ear phones, head phones, tablets, mobile covers, phone chargers, screen guards, power banks, phone warranty plans, fire sticks, car holder clamps, pen drive of all major brands operational in India like MI, Samsung, Vivo, Oppo, Realme, Nokia, OnePlus, Redmi, Nothing, Tecno, Intel, Infinix, Xiaomi and other popular Brands in Gujarat.
As of March 31, 2026, the company had a workforce of 27 personnel.
Competitive Strengths:
- Experienced Promoters and Management Team
- Extensive Distribution Network in Gujarat
- Comprehensive Product Range
- Strategic Store Locations and Customer Experience
- Low Capital Requirements for Growth
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding of working capital needs | ₹22.95 |
| General Corporate Purposes | — |
| Metric | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 54.41 | 0.10 | 34.41 |
| Revenue | 152.02 | - | 115.47 |
| PAT | 7.07 | 5.74 | -0.01 |
| EBITDA | 9.71 | 8.02 | 3.04 |
| Net Worth | 24.18 | 17.10 | 0.09 |
| Reserves | 16.55 | 9.48 | -0.01 |
| Total Borrowing | 3.72 | 0.07 | - |
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | 0.00 | 549600.00 | 0.00 | ₹538.61 Cr |
| NII / HNI | 1.00 | 403200.00 | 403200.00 | ₹395.14 Cr |
| Retail (RII) | — | 9,42,000 | — | ₹9.23 Cr |
| Market Maker | — | 1,44,000 shares (agg. up to ₹1 Cr) | — | ₹1.41 Cr |
| Total | 0.35 | 1896000.00 | 662400.00 | ₹1,858.08 Cr |
* Amount calculated at upper price band (₹98) · ** Total includes all investor categories
- 1 Initiation of Refund 23 Apr 2026
- 2 Credit of Shares to Demat 23 Apr 2026
- The IPO P/E of 10.86x reflects a strong valuation relative to typical market ranges.
- Pre-issue EPS of ₹7.53 compares to post-issue EPS of ₹9.02 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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