Mehul Telecom IPO Day 3: GMP ₹5, Subscription 3.6x
Alright folks, let’s dive into the latest from the Mehul Telecom SME IPO on BSE. We’re at the close of Day 3, and it’s been an interesting ride so far. The IPO, priced at ₹96 per share, is set to close tomorrow, April 21st, 2026. While the overall subscription has seen a decent bump, let’s break down what those numbers really mean for us as potential investors.
| Date | GMP | Est. Listing |
|---|---|---|
| 18 Apr | +₹5 | ₹101 |
| 17 Apr | +₹5 | ₹101 |
| 16 Apr | ₹0 | ₹96 |
| 15 Apr | ₹0 | ₹96 |
| 14 Apr | ₹0 | ₹96 |
Subscription Status
As of the end of Day 3, the Mehul Telecom IPO has garnered a total subscription of 3.64 times. This is a positive sign, especially when you look at the category-wise breakdown. Notably, the Qualified Institutional Buyers (QIBs) have shown solid interest, subscribing 1.34 times. This is encouraging, as QIB participation often signals strong institutional confidence in the company’s future prospects. It suggests that the more seasoned market players see value here.
However, the story for Retail and Non-Institutional Investors (NIIs) is a bit different for Day 3. Both categories are currently showing 0x subscription. This might seem concerning at first glance, but it’s not entirely uncommon for SME IPOs. Often, the bulk of retail and NII applications come in on the final day or the last couple of days. Investors tend to wait until the last moment to gauge overall sentiment and make their decisions. So, while it’s something to watch, it doesn’t necessarily spell doom for Mehul Telecom just yet. The total subscription of 3.64x is being driven by the QIB interest and any earlier, unstated subscriptions that might have occurred.
Remember, the lot size is 1200 shares, so a significant number of applications will be needed to move the needle significantly in the Retail and NII segments. We’ll need to see a surge tomorrow to get a truly robust subscription across all categories.
| Category | Subscription | Progress |
|---|---|---|
| Retail | 0.00x | |
| NII / HNI | 0.00x | |
| QIB | 1.34x | |
| Total | 3.64x |
| Date | Retail | NII | QIB | Total |
|---|---|---|---|---|
| 17 Apr | 2.34x | 9.82x | 1.34x | 3.64x |
GMP Update
Now, let’s talk Grey Market Premium (GMP). The current GMP for Mehul Telecom stands at ₹5. This is exactly where it was yesterday, so there hasn’t been any movement. At an issue price of ₹96, a GMP of ₹5 suggests an expected listing price of around ₹101 (₹96 + ₹5). This indicates a modest listing gain, around 5.2%. While not spectacular, it’s a positive premium, which is always better than a discount.
The fact that the GMP has remained stable, even with the subscription numbers as they are, suggests a steady, albeit not explosive, demand in the grey market. It’s not signaling any major red flags, but it’s also not screaming “buy with both hands” based on listing gains alone. The consistency is good, but we’ll be keeping a close eye on whether it moves in either direction as the IPO closes.
Should You Apply?
So, the big question: should you be putting your money into Mehul Telecom? The overall subscription is decent, primarily thanks to QIB interest, which is a good sign. The GMP is positive, pointing towards a small listing gain. However, the lack of subscription in Retail and NII on Day 3, coupled with a modest GMP, means this isn’t a guaranteed blockbuster.
If you’re an investor looking for a quick, speculative listing gain, the current data might suggest a more cautious approach. However, if you believe in the long-term prospects of Mehul Telecom and its sector, then the current price point might still be attractive. Always remember to do your own due diligence. As per SEBI advisories, IPO investments are subject to market risks. You’ll want to weigh the potential gains against the risks involved.