New Delhi, 24 April (H.S.): Shares of telecom company Mehul Telecom Limited listed with a premium on the stock market today, delighting its IPO investors. The shares, issued at ₹98 under the IPO, debuted on BSE's SME platform at ₹108—a premium exceeding 10 percent.

Volatile Trading After Listing

Post-listing buying support lifted the shares to ₹109.90.

Profit-taking triggered selling pressure, pulling them down to ₹104. After sustained buying and selling, the shares traded at ₹107.75 by 10:45 a.m., leaving IPO investors with a 9.95 percent gain or ₹9.75 per share.

The ₹88.02 crore IPO, open from April 17-21, received overwhelming response, subscribed 44.91 times overall. The QIB portion was subscribed 32.5 times, NII category 79.38 times, and retail portion 37.41 times. It issued 28,29,600 equity shares of ₹10 face value. Proceeds will fund working capital needs and general corporate purposes.

According to claims in the DRHP filed with SEBI, Mehul Telecom's financial health has strengthened steadily. The company reported a net loss of ₹1 lakh in FY 2023-24 but turned profitable in FY 2024-25 with ₹5.74 crore net profit. For April-December 2025, net profit reached ₹7.07 crore.

Debt levels increased during this period. The company was debt-free at the end of FY 2023-24 but carried ₹7 lakh debt by FY 2024-25 end. By December 31, 2025, debt stood at ₹3.72 crore.

Net worth grew from ₹9 lakh in FY 2023-24 to ₹17.10 crore in FY 2024-25, reaching ₹24.18 crore by December 2025. EBITDA rose from ₹3.04 crore in 2023-24 to ₹8.02 crore in 2024-25, and further to ₹9.71 crore by end-December 2025.

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Hindusthan Samachar / Jun Sarkar