listed · IPO · BSE SME · listed 23 April 2026

MEHUL TELECOM LIMITED

Raised ₹27.73 Cr at ₹98 per share.

+12.2%

listing-day move

Issue price

₹98

Issue size

₹27.73 Cr

Listing-day close

₹109.94

Return since listing

-0.26%

Company research

Source: Tijori Finance · third-party enrichment

About the company

Mehul Telecom Ltd. is a Gujarat-based mobile retail company operating a multi-brand chain selling smartphones and accessories through COCO & franchise (FOFO) stores, with ~80 outlets across Gujarat, driven by strong promoter-led growth.

Financials (₹ crore)

Period	Revenue	PAT	Debt
Mar 2024	—	-0.01 Cr	0 Cr
Mar 2025	115.38 Cr	5.74 Cr	0.07 Cr

Revenue mix

Sale of Mobile Phones 98.6%

Sales of other products & Accessories 1.4%

Peer comparison

Company	Mkt cap (Cr)	Revenue	PAT	P/E	P/B
MTL	100	115 Cr	5.74 Cr	9.99	—
FONEBOX	101	342 Cr	4.55 Cr	22.23	—
KORE	147	667 Cr	6.26 Cr	14.33	—
BHATIA	351	442 Cr	13.79 Cr	20.95	2.65

Exchange filings

Fields captured from NSE and BSE

Issue information

Symbol: MTL10

Data sources: BSE , MONEYCONTROL . Data quality clean.