The Mehul Telecom IPO, which commenced on April 17 and is set to close on April 21, has garnered significant interest, with a subscription rate of 21.81 times as of Day 3. The IPO's price band is between ₹96 and ₹98 per equity share, with a minimum bid requirement of 1,200 shares. The company operates a retail chain offering a variety of mobile devices and accessories, and it has reported revenues of ₹152 crore and a profit after tax of ₹7.07 crore for the nine-month period ending December 2025. The grey market premium (GMP) for the IPO is currently at +3, suggesting an estimated listing price of ₹101 per share, which is about 3.06% higher than the upper end of the IPO price. The subscription status reveals that the retail portion is subscribed 20.88 times, while the non-institutional investor segment is heavily oversubscribed at 48.20 times. The total issue size is approximately ₹28 crore, with plans for share allotment by April 22 and listing on the BSE SME platform by April 24.