Mehul Telecom IPO Subscribed 44.88 Times on Day 3
5paisa Capital Ltd
- 2 min read
Last Updated: 21st April 2026 - 05:33 pm
Mehul Telecom Limited's initial public offering (IPO) closed its three-day subscription window with strong investor interest, reaching 44.88 times overall subscription by 4:59 PM on Day 3 (April 21, 2026). The ₹27.73 crore book-build issue, priced at ₹96 to ₹98 per share, received bids for 8,50,95,600 shares against 18,96,000 shares on offer, with total applications reaching 18,696.
Invest in Indian Markets and Unlock Future Potential With 5paisa!Subscription Status of Mehul Telecom IPO
| Date | QIB | NII | Individual Investors | Total |
|---|---|---|---|---|
| Day 1 (April 17) | 0.34 | 9.82 | 2.34 | 3.64 |
| Day 2 (April 20) | 0.38 | 22.82 | 9.36 | 9.91 |
| Day 3 (April 21) | 32.50 | 79.34 | 37.37 | 44.88 |
Here are the subscription details for Mehul Telecom Day 3, as of 5:04 PM:
| Investor Category | Subscription (times) | Shares Offered | Shares bid for |
Total Amount (₹ Cr.) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 7,89,600 | 7,89,600 | 7.74 |
| Market Maker | 1.00 | 1,44,000 | 1,44,000 | 1.41 |
| QIB (Ex-Anchor) | 32.50 | 5,49,600 | 1,78,60,800 | 175.04 |
| NII | 79.34 | 4,03,200 | 3,19,90,800 | 313.51 |
| Individual Investor | 37.37 | 9,43,200 | 3,52,44,000 | 345.39 |
| Total | 44.88 | 18,96,000 | 8,50,95,600 | 833.94 |
Key Highlights – Day 3
- Overall subscription surged to 44.88 times on the final day, from Day 2's 9.91 times, driven by a sharp last-day surge across all investor categories.
- Non-institutional investors led at 79.34 times, surging from Day 2's 22.82 times, with bNII at 96.42 times and sNII at 45.18 times, reflecting strong HNI demand for this multi-brand mobile retail SME IPO.
- Qualified institutional buyers (ex-anchor) surged to 32.50 times from Day 2's 1.38 times, indicating heavy institutional interest concentrated on the closing day.
- Individual investors recorded strong participation at 37.37 times, rising sharply from Day 2's 9.36 times.
Key Highlights - Day 2
- Overall subscription reached 9.91 times, improving from Day 1's 3.64 times.
- Non-institutional investors led at 22.82 times, building from Day 1's 9.82 times, with bNII at 26.01 times and sNII at 16.44 times.
- Individual investors improved to 9.36 times from Day 1's 2.34 times.
- Qualified institutional buyers (ex-anchor) held steady at 1.38 times, broadly unchanged from Day 1.
Key Highlights – Day 1
- Overall subscription reached 3.64 times on Day 1 (April 17, 2026), reflecting strong initial investor interest in this multi-brand mobile retail SME IPO.
- Non-institutional investors led opening participation at 9.82 times, with bNII at 11.29 times and sNII at 6.89 times on Day 1.
- Individual investors recorded 2.34 times on Day 1.
- Qualified institutional buyers (ex-anchor) crossed full subscription at 1.34 times on the opening day.
- Anchor investors fully subscribed their allocation of ₹7.74 crores on April 16, 2026.
About Mehul Telecom Limited
Incorporated in May 2023, Mehul Telecom Limited is a multi-brand mobile retail chain operating through a hybrid COCO and FOFO retail model in Gujarat, offering smartphones and accessories across major brands including Samsung, Apple, Vivo, Oppo, Realme, OnePlus, and others. The company also retails allied accessories including wearables, audio devices, and power solutions.
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