Vinit Mobile
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 10 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 06 Jul 2026 | ₹0 | 0.00% | ₹0 | ₹158 | ₹0 |
| 05 Jul 2026 | ₹0 | 0.00% | ₹0 | ₹158 | ₹0 |
| 04 Jul 2026 | ₹0 | 0.00% | ₹0 | ₹158 | ₹0 |
| 03 Jul 2026 | ₹1 | +0.63% | ₹600 | ₹159 | ₹800 |
| 02 Jul 2026 | ₹1 | +0.63% | ₹600 | ₹159 | ₹800 |
| 01 Jul 2026 | ₹30 | +18.99% | ₹18,200 | ₹188 | ₹24,000 |
| 30 Jun 2026 | ₹30 | +18.99% | ₹18,200 | ₹188 | ₹24,000 |
| 29 Jun 2026 | ₹0 | 0.00% | ₹0 | ₹158 | ₹0 |
| 28 Jun 2026 | ₹0 | 0.00% | ₹0 | ₹158 | ₹0 |
| 27 Jun 2026 | ₹0 | 0.00% | ₹0 | ₹158 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 30 Jun 2026 – 02 Jul 2026
- Listing date
- 07 Jul 2026
- Face value
- ₹10 per share
- Price band
- ₹158
- Issue price
- ₹158 per share
- Lot size
- 800 shares
- Listing at
- NSE SME
- Total issue size
- ₹34.13 Cr
- Market cap at offer price
- ₹97.49 Cr
- Promoter holding
- 99.80% → 64.86% pre-issue → post-issue
- ISIN
- INE27V201011
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Comfort Securities Ltd.
- Registered office
- Plot no. 358, Ground, 1st & 2nd floor, Gopal Nagar, Bamroli Althan Expressway,, Pandesara, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 1,08,000 | — | — |
Application size
Minimum 800 shares per lot, in multiples, at ₹158
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 800 | ₹1,26,400 |
| S-HNI (min) | 2 | 1,600 | ₹2,52,800 |
| S-HNI (max) | 7 | 5,600 | ₹8,84,800 |
| B-HNI (min) | 8 | 6,400 | ₹10,11,200 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹158 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 9.73 | 11.04 |
| P/E (×) | 16.24 | 14.31 |
| Price to book (×) | 13.76 | — |
| Market cap | — | ₹97.49 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 84.78%
- ROCE
- 73.66%
- Debt / equity
- 0.66
- PAT margin
- 6.44%
- EBITDA margin
- 9.53%
- NAV per share
- ₹11.48
- Price to book
- 13.76
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Vinit Mobile
Vinit Mobile Limited is a retail distribution company specializing in the sale of smartphones, mobile accessories, and related gadgets from leading global brands including Apple, Samsung, Realme, Xiaomi, Oppo, Vivo, Motorola, Techno, and Infinix. The company was originally incorporated as Tanya Silk Mills Private Limited on May 26, 2011, and later changed its name to Vinit Mobile Private Limited in February 2020, before converting to a public limited company as Vinit Mobile Limited in May 2025. The company operates a network of retail stores using a Company-Owned, Company-Operated (COCO) model, with 35 stores as of the date of this Red Herring Prospectus, primarily located in Surat district of Gujarat and some locations in Rajasthan. The company's business generates revenue through high-volume sales of mobile phones and accessories at competitive prices.
Company Analysis
from RHPVinit Mobile Limited is a multi-brand mobile phone and accessories retail distributor operating company-owned retail stores in Gujarat and Rajasthan.
Vinit Mobile Limited is a retail distribution company specializing in the sale of smartphones, mobile accessories, and related gadgets from leading global brands including Apple, Samsung, Realme, Xiaomi, Oppo, Vivo, Motorola, Techno, and Infinix. The company was originally incorporated as Tanya Silk Mills Private Limited on May 26, 2011, and later changed its name to Vinit Mobile Private Limited in February 2020, before converting to a public limited company as Vinit Mobile Limited in May 2025. The company operates a network of retail stores using a Company-Owned, Company-Operated (COCO) model, with 35 stores as of the date of this Red Herring Prospectus, primarily located in Surat district of Gujarat and some locations in Rajasthan. The company's business generates revenue through high-volume sales of mobile phones and accessories at competitive prices.
Objects of the Issue
- Set up cost of new stores p.37
- Working Capital p.37
- General corporate purposes p.37
- For detailed information, please refer to section titled 'Objects of the Issue' on page 98 of this Red Herring Prospectus p.68
- Set up of New Stores ₹62.05 lakhs p.103
- Working Capital ₹2,374.85 lakhs p.103
- General Corporate Purposes p.103
Issue Structure
- Total Issue
- Up to 21,60,000 Equity Shares at the Issue Price of ₹ [●] each aggregating ₹ [●] Lakhs
- Fresh Issue
- Up to 21,60,000 Equity Shares of face value of ₹ 10 each at an Issue Price of ₹ [●] per Equity Share
- Offer for Sale
- N.A.
- Price Band
- ₹ [●] (Floor Price) to ₹ [●] (Cap Price)
- Lot Size
- [●] Equity Shares and in multiples thereof
- Face Value
- ₹ 10 per Equity Share
Business Model
The company operates on a Company-Owned, Company-Operated (COCO) model, operating retail stores that sell mobile phones and accessories from multiple leading brands. Revenue is generated through the direct sale of products at the retail stores. The business is dependent on high-volume sales and requires significant upfront and ongoing capital investment for store establishment, maintenance, inventory procurement, and operational expenses.
Business Segments
SWOT Analysis
- • Company-Owned Company-Operated (COCO) retail model with direct operational control(p.148)
- • Experienced promoters with 15+ years in mobile retail business(p.143)
- • Multi-brand retailing across major smartphone brands(p.143)
- • Extensive distribution network with 35 company-owned retail stores(p.148)
- • Strategic partnerships with financial institutions for point-of-sale financing(p.143)
- • Centralized digital inventory management system (APX ERP)(p.148)
- • Strong revenue growth with EBITDA margins improving to 13.60%(p.158)
- • Recognized awards from major mobile brands including OPPO, Realme, and VIVO(p.144)
- • High return on equity demonstrating capital efficiency(p.159)
- • Strong operational profitability with high EBITDA margins(p.159)
- • Experienced promoter with 15+ years in mobile retail business(p.161)
- • Established multi-brand retail presence with 35+ stores across clusters(p.162)
- • Multiple brand partnerships and recognition awards(p.181)
- • Established multi-brand retail network with strategic locations(p.264)
- • Strong profitability and margin improvement trajectory(p.270)
- • Significant revenue growth with operating leverage(p.270)
- • Improved capital structure and debt-equity position(p.251)
- • Diversified revenue streams with both B2C and B2B(p.271)
- • Controlled employee cost growth relative to revenue expansion(p.270)
- • Comprehensive product offering including major global brands(p.264)
- • Predecessor proprietorships engaged in same business creating conflict-of-interest risks(p.28)
- • Failure to obtain Shop Act registration for 4 stores due to property tax issues(p.29)
- • High dependency on limited number of suppliers for procurement(p.30)
- • No ownership of registered office and operating premises; all on lease(p.31)
- • Negative cash flows from operations in past years(p.33)
- • Lease and leave-and-license agreements not properly registered or executed(p.34)
- • Substantial portion of revenue dependent on few customers with no long-term contracts(p.35)
- • High debt-to-equity ratio historically (4.43x in FY 2024)(p.37)
- • High employee attrition in recent fiscal years affecting operations(p.37)
- • Statutory compliance discrepancies and delayed form filings with ROC(p.38)
- • Unregistered and unenforceable trademarks; pending trademark applications(p.46)
- • Loss incurred in FY 2023 impacting past profitability(p.48)
- • Related party transactions including trade receivables from Promoter Group member representing 73.6% of total receivables(p.41)
- • Heavy dependence on promoter leadership(p.49)
- • Absence of formal succession plan(p.49)
- • Recently constituted professional management team with limited track record(p.49)
- • Recurring statutory compliance delays(p.50)
- • Unsecured loans repayable on demand(p.49)
- • Director guarantees securing debt facilities(p.49)
- • Retroactive ESIC compliance penalties(p.52)
- • Geographic concentration of operations limited to Surat and Rajasthan(p.149)
- • Limited brand recognition outside regional markets(p.149)
- • Dependence on external financing for working capital(p.149)
- • Vulnerability to industry trends in mobile handset retail(p.149)
- • Heavy reliance on third-party brands with limited control over product innovation(p.149)
- • High employee attrition rate(p.164)
- • Dependence on brand partner employees for store operations(p.164)
- • Short lease tenure for majority of retail properties(p.217)
- • Promoter group members lack formal consent and disclosures(p.203)
- • Concentration of founder shareholding with limited diversification(p.200)
- • Negative operating cash flow in current period(p.273)
- • High inventory requirements for new store expansion(p.273)
- • Significant debt burden to finance operations(p.259)
- • Limited track record as recently converted public entity(p.294)
- • Heavy reliance on director loans for financing(p.227)
- • Customer concentration risk in B2B segment(p.275)
- • Expansion into tier-2 and tier-3 markets with rising smartphone penetration(p.149)
- • Growing demand for mobile accessories with higher margins and shorter replacement cycles(p.149)
- • Increasing adoption of digital payments and financing options at point of sale(p.149)
- • Planned expansion of retail network with 6 new stores identified with Letters of Intent(p.104)
- • Scalable growth through FOCO (Franchise Owned, Company Operated) model(p.149)
- • Geographic expansion with recent entry into Jaipur market(p.171)
- • E-commerce capability with dedicated online platform(p.161)
- • Growth in digital electronics and consumer appliance sectors(p.181)
- • Expansion through multi-brand retail portfolio(p.181)
- • Regional brand expansion strategy with trademarked names(p.264)
- • Expansion of retail distribution network(p.265)
- • Growing smartphone penetration and young demographic in India(p.265)
- • Product portfolio expansion across segments(p.265)
- • Enhanced bargaining power through scale(p.265)
- • Rapid technological advancements causing price volatility and inventory devaluation(p.35)
- • Highly competitive market with low entry barriers attracting numerous competitors(p.36)
- • Intense competition from online retailers with broader product ranges and aggressive pricing(p.40)
- • Seasonal and cyclical volatility in sales leading to inventory fluctuations(p.32)
- • Geographical concentration in Surat district creates market saturation risk(p.31)
- • Regulatory and statutory approvals subject to change, suspension or revocation(p.35)
- • Dependence on distributors' exclusive tie-ups potentially limiting competitive sourcing(p.32)
- • Interest rate fluctuations affecting debt servicing costs and financial performance(p.48)
- • Restricted operating covenants in loan agreements limiting business expansion(p.48)
- • Brand partner employees on external payroll creating workforce disruption risks(p.31)
- • Regulatory and tax compliance risks(p.51)
- • Data verification limitations(p.49)
- • Inadequate insurance coverage(p.49)
- • Pricing pressure from customers(p.54)
- • Macroeconomic and inflation risks(p.58)
- • Natural disasters and external shocks(p.56)
- • Indian economy and geopolitical dependency(p.58)
- • Competition law and regulatory changes(p.58)
- • Intense competition from organized and unorganized retail players(p.149)
- • Competition from online and e-commerce platforms bypassing traditional retail(p.149)
- • Rapid technology obsolescence with frequent smartphone model launches and price erosion(p.149)
- • Supply chain disruption risks from dependency on global imports(p.149)
- • Regulatory changes affecting import duties and GST compliance margins(p.149)
- • Price competition and margin pressures from intense retail rivalry(p.135)
- • Prevalence of grey market and counterfeit products creating unfair competition(p.135)
- • Intense competition in mobile retail sector(p.179)
- • Regulatory changes and compliance burden(p.177)
- • Dependence on external brand partnerships and support(p.164)
- • E-waste management and environmental compliance obligations(p.177)
- • Data protection and privacy regulation requirements(p.175)
- • Economic sensitivity of discretionary smartphone purchases(p.265)
- • Significant competition in mobile retail sector(p.265)
- • Dependence on high-traffic location availability(p.265)
- • High rental and fixed cost exposure(p.265)
- • Execution risk in store expansion and operational scaling(p.265)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Vinit Jalan | Promoter | — | — |
| Mrs. Shweta Jalan | Promoter | — | — |
| Vinit Jalan | Promoter | 49.80% | — |
| Shweta Jalan | Promoter | 35.80% | — |
| Ranjana Jalan | Promoter Group | 7.00% | — |
| Ravishankar Jalan | Promoter Group | 7.00% | — |
| Vandana Agarwal | Promoter Group | 0.10% | — |
| Vijaya Todi | Promoter Group | 0.10% | — |
| Vinit Jalan | Promoter | — | — |
| Shweta Jalan | Promoter | — | — |
| Mr. Vinit Jalan | Promoter | 49.80% | — |
| Mrs. Shweta Jalan | Promoter | 35.80% | — |
| Vinit Jalan | Promoter | 49.80% | — |
| Shweta Jalan | Promoter | 35.80% | — |
| Ranjana Jalan | Promoter Group | 7.00% | — |
| Ravishankar Jalan | Promoter Group | 7.00% | — |
| Vandana Agarwal | Promoter Group | 0.10% | — |
| Vijaya Todi | Promoter Group | 0.10% | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.