Mehul Telecom Ltd IPO

About Mehul Telecom Ltd

The Company was incorporated as a Private Limited Company in the name `Mehul Telecom Private Limited', under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated May 17, 2023 issued by the Registrar of Companies, Central Registration Centre. Subsequently, pursuant to a special resolution passed by the shareholders of the Company in the Extra-Ordinary General Meeting held on February 28, 2025 the Company was converted from a Private Limited Company to Public Limited Company and consequently, the name of the Company was changed to `Mehul Telecom Limited and a Fresh Certificate of Incorporation consequent to Conversion was issued on March 20, 2025, by the Registrar of Companies, Central Registration Centre. The Corporate Identification Number of the Company is U46524GJ2023PLC141259.

The outlook for India's electronics manufacturing industry is promising, with projections aiming to reach US$ 540 billion by 2025, showing a significant increase from the US$ 215 billion demand in FY19. The market has demonstrated steady growth during years indicating a robust 14% Compound Annual Growth Rate (CAGR) between 2016 and 2019 and 16.6% CAGR Growth between FY19-FY25. Further, the electronics system Design and Manufacturing market is forecasted to achieve US$ 220 billion by FY25. Notably, key products within the Electronics & Telecommunications Development (ESDM) sector, including IT/OA, industrial electronics, and automotive electronics, have shown the highest CAGR. The import and export data portray a dynamic trade scenario, showcasing imports of electronic goods amounting to US$ 73.46 billion and exports totaling US$ 22.68 billion during the previous fiscal year (FY23). The growth trajectory extends to specific sectors, with smartphone shipments reaching 168 million units in CY 2021. Likewise, 5G device shipments are anticipated to surge by 129% year-on-year. The electronics design segment, is poised to constitute 27% of the total ESDM market size by FY25. With a firm commitment, India aims to achieve US$ 300 billion worth of electronics manufacturing and exports totaling USD 120 billion by 2025-26.

The Company, Mehul Telecom Limited is in the business of operating a multi-brand mobile retail chain offering smartphones and Other electronic products and accessories through a hybrid COCO (Company Owned, Company Operated) and FOFO (Franchisee Owned, Franchisee Operated) retail model. Its retail portfolio comprises products from leading smart phone and phone accessory manufacturers viz., MI, Samsung, Vivo, Oppo, Realme, Nokia, OnePlus, Redmi, Nothing, Tecno, Intel, Infinix, Xiaomi and other popular Brands. In addition to handsets, the company retails connected lifestyle products and peripherals such as Air Conditioners, Refrigerators, Washing Machines, Televisions, wearables, audio devices, and power solutions like speakers, smartwatch, ear phones, head phones, tablets, mobile covers, phone chargers, screen guards, power banks, phone warranty plans, fire sticks, car holder clamps, pen drive etc. of various brands. Its stores support omnichannel checkout including UPI, mobile wallets, and integrated POS terminals. The Company operates under the brand name Mehul Telecom. As on the date of Red Herring Prospectus, the company operates from total 80 stores across the state of Gujarat out of which 6 are COCO stores and 74 are FOFO stores.

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