Mehul Telecom Ipo
Mehul Telecom IPO Review & Key Points
Review:
IPO Lead Managers aka Merchant Bankers
Cumulative Capital Pvt.Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | April 17, 2026 |
| IPO Close Date | April 21, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹96 to ₹98 Per Share |
| Issue Size | Approx ₹28 Crores, 30,00,000 Equity Shares |
| Fresh Issue | Approx ₹28 Crores, 30,00,000 Equity Shares |
| Issue Type | Book Building Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,400 | ₹2,35,200 |
| Retail Maximum | 2 | 2,400 | ₹2,35,200 |
| S-HNI Minimum | 3 | 3,600 | ₹3,52,800 |
| S-HNI Maximum | 8 | 9,600 | ₹9,40,800 |
| B-HNI Minimum | 9 | 10,800 | ₹10,58,400 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 7,89,600 Shares | 27.91% |
| QIB (Ex. Anchor) | 5,50,800 Shares | 19.47% |
| NII Shares Offered | 4,03,200 Shares | 14.25% |
| Retail Shares Offered | 9,42,000 Shares | 33.29% |
| Anchor Bidding Date | April 16, 2026 |
| Anchor Investors List | |
| Shares Offered | 7,89,600 Shares |
| Anchor Size | 7.74 Cr. |
| lock-in period end date 50% shares (30 Days) | May 22, 2026 |
| lock-in period end date 50% shares (90 Days) | July 21, 2026 |
| IPO Open Date: | April 17, 2026 |
| IPO Close Date: | April 21, 2026 |
| Basis of Allotment: | April 22, 2026 |
| Refunds: | April 23, 2026 |
| Credit to Demat Account: | April 23, 2026 |
| IPO Listing Date: | April 24, 2026 |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 76,22,000 | 94.25% |
| Promoter Holding Post Issue | 1,04,51,600 | 68.73% |
| Purpose | Crores |
| Funding of working capital needs | ₹22.95 |
| General Corporate Purpose | ₹- |
| Period Ended | Revenue | Expense | PAT |
| 2023 | ₹80.27 | ₹79.56 | ₹0.51 |
| 2024 | ₹107.37 | ₹104.40 | ₹2.19 |
| 2025 | ₹121.02 | ₹112.96 | ₹6.04 |
| Dec 2025 | ₹152.02 | ₹142.50 | ₹7.07 |
| KPI | Values |
| ROE: | 59.84% |
| ROCE: | 47.16% |
| EBITDA Margin: | 6.63% |
| PAT Margin: | 5.00% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ₹8.30 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 35.31% |
| Net Asset Value (NAV): | ₹23.49 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Fonebox Retail limited | 4.43 | 20.96 | 13.18% | 33.62 | 342.73 Cr. |
| Jay Jalaram Technologies Limited | 2.87 | 54.98 | 10.02% | 56.81 | 339.09 Cr. |
| Bhatia Communications &Retail (India) Limited | 1.104 | 21.86 | 15.56% | 7.08 | 442.72 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |