Mehul Telecom IPO Day 2 Subscription Status: Issue Subscribed 5.2x
By HDFC SKY | Published at: Apr 20, 2026 12:24 PM IST
Mehul Telecom IPO gathers momentum, subscribed 5.21x by Day 2 amid strong HNI demand
Mumbai, April 20: The ₹27.73 crore Mehul Telecom IPO is beginning to show a more defined demand pattern as it moves through Day 2 of bidding. Opened on April 17, 2026, and closing on April 21, 2026, the book-built issue is priced in the ₹96 to ₹98 band, with a standard lot size of 1,200 shares.
There is a noticeable shift from the opening day. The book is no longer tentative. Bids are building, and the pace has picked up, though the participation remains uneven across investor classes.
Mehul Telecom IPO Day 2 Subscription Status
As of April 20, 2026, 11:49:35 AM, the IPO is subscribed 5.21 times overall. The non-institutional investors continue to dominate the book. Subscription in this segment is already nearing 14 times, with both sub-categories seeing aggressive bidding.
Retail interest, while not as intense, has broadened meaningfully since Day 1, crossing the three-times mark. It reflects steady, incremental participation rather than a sudden surge.
Institutional demand, on the other hand, remains relatively measured at 1.34 times so far.
Category-wise Mehul Telecom IPO Subscription Status
| Category | Subscription (x) | Shares Offered | Shares Bid For |
| QIB (Ex Anchor) | 1.34 | 5,49,600 | 7,39,200 |
| NII (HNI) | 13.99 | 4,03,200 | 56,41,200 |
| bNII (> ₹10L) | 15.91 | 2,68,800 | 42,76,800 |
| sNII (< ₹10L) | 10.15 | 1,34,400 | 13,64,400 |
| Retail | 3.71 | 9,43,200 | 34,96,800 |
| Total | 5.21 | 18,96,000 | 98,77,200 |
Mehul Telecom Day-wise Subscription Summary
| Date | QIB (x) | NII (x) | Retail (x) | Total (x) |
| April 17 | 1.34 | 9.82 | 2.34 | 3.64 |
| April 20 | 1.34 | 13.99 | 3.71 | 5.21 |
The day-wise trend shows a gradual but clear build-up. The jump is not abrupt, but it is consistent.
NII bids have expanded sharply between the two days, while retail participation has also strengthened in parallel. QIB numbers, however, have remained unchanged so far.
Mehul Telecom IPO Timeline
| Event | Date |
| Issue Open Date | April 17, 2026 |
| Issue Close Date | April 21, 2026 |
| Basis of Allotment | April 22, 2026 |
| Initiation of Refunds | April 23, 2026 |
| Credit of Shares | April 23, 2026 |
| Listing Date | April 24, 2026 |
Brief Overview Of The IPO
The IPO consists entirely of a fresh issue of 0.28 crore equity shares, aggregating to ₹27.73 crore. There is no offer for sale component, keeping the structure straightforward.
The price band has been fixed at ₹96 to ₹98 per share. At the upper end, a single lot requires an investment of ₹1,17,600. Applications must be made in multiples of 1,200 shares, while HNI participation begins at 3,600 shares.
Mehul Telecom operates within the telecom infrastructure and services segment, focusing on network-related offerings. The company is set to list on the BSE SME platform
Source:
- https://www.nseindia.com/market-data/all-upcoming-issues-ipo
Disclaimer
If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.
Please Note: The information shared is intended solely for informational purposes and does not make any investment recommendations
