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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Working capital requirements
Funding the working capital needs of the business to support expanded store operations
General corporate purposes
Meeting general corporate expenses and administrative operational costs
(₹ in Crore)
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Mehul Telecom Limited is an established multi-brand mobile retail enterprise founded in May 2023 and headquartered in Rajkot, Gujarat. The company operates a retail chain specializing in smartphones, consumer electronics, connected lifestyle devices, and peripheral mobile accessories across regional urban centers. Operating through a hybrid retail network that combines Company Owned Company Operated (COCO) outlets with Franchisee Owned Franchisee Operated (FOFO) stores, the company has expanded its store footprint across key commercial hubs in Gujarat. Its product catalog encompasses major global smartphone brands alongside audio equipment, wearables, power solutions, and protective gear. Supported by experienced promoters with extensive domain knowledge in consumer distribution, the business focuses on scaling its store network, optimizing inventory management, and strengthening regional brand presence to capitalize on expanding consumer demand for mobile technology.
The company allocated 789,600 equity shares at Rs 98 per share to anchor investors, securing Rs 7.74 crore from institutional participants including Krushnam Nexus Capital Trust, Visionary Value Fund, Nova Global Opportunities Fund, and Darwin Evolution Growth Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 4 September 2026, 7:00 AM
Widespread Store Presence
Operates an expansive retail footprint of approximately 80 stores across key urban and semi-urban markets in Gujarat.
Scalable Hybrid Model
Utilizes a balanced combination of company-owned and franchisee-operated outlets to support capital-light expansion.
Experienced Promoter Leadership
Guided by executive promoters with nearly two decades of operational experience in mobile trade and retail management.
Comprehensive Product Range
Maintains diverse product offerings spanning leading smartphone brands, audio accessories, wearables, and power solutions.
Geographic Concentration
Generates a dominant portion of total revenue from a limited set of districts within Gujarat, exposing operations to regional economic risks.
Intense Industry Competition
Faces significant pricing pressure and competition from both organized online marketplaces and unorganized local retailers.
Working Capital Requirements
Requires substantial inventory capital to stock retail outlets, creating potential liquidity risks if inventory turnover slows.
Mehul Telecom Limited
A223, West Gate, Near Raiya Circle, 150 Ft Ring Road, Rajkot - 360007, Gujarat, India
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Thin Operating Margins
Operates within a consumer retail segment characterized by modest gross margins, making profitability sensitive to cost fluctuations.