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Vinit Mobile Ltd IPO
Status: Closed
Overview
IPO date
30 Jun 2026 to 02 Jul 2026
Face value
₹ 10 per share
Price
₹ 150 to ₹158 per share
Issue Size
2,160,000 shares
(aggregating up to ₹ 34.13 Cr)
(aggregating up to ₹ 34.13 Cr)
Allotment Date
03 Jul 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Retail
Unlock Stock of the Month
T&C*
Strengths vs Risks of Vinit Mobile Ltd
Know the pros & cons
Strengths
- Multi-Brand Retailing and Partnership Opportunities.
- Own managed stores.
- Operating and financial performance growth.
- Diversified customer base.
Risks
- The Promoter was engaged in a similar line of business through proprietorship firms prior to starting the business of the company.
- Opening and closing stores is a regular part of the Company's business and depends mainly on how much revenue each store generates.
- The company is facing challenge in obtaining registration under Gujarat Shops and Establishments Act, 2019 for 4 (Four) of its premises owing to property tax issue on behalf of original owner. In case of the company inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operates its business it may has a material adverse effect on the company business.
- The Company's business is highly dependent on the brand recognition and reputation of the products its Issue. Any failures to maintain or enhance the image of these brands could has a material adverse effect on the company business, financial condition, and results of operations.
- The company Restated Financial Information is prepared and signed by the Peer Review Auditor who is not Statutory Auditors of its Company as required under the provisions of ICDR.
- The Company is significantly dependent on a limited number of suppliers for the procurement of products. Any disruption, delay, or termination of business relationships with one or more of these key suppliers could adversely affect its ability to maintain inventory levels, fulfill customer demand, and operates efficiently.
- The company business is primarily focused on the distribution of telecom products, such as mobile devices, accessories, and related gadgets, which leaves its vulnerable to risks dues to the lack of diversification in the company product offerings.
- Dependence on Brand Partner Employees at Retail Stores of the Company.
- The company operations and revenues is limited to and concentrated in the geographical region of the State of Gujarat. In the State of Gujarat also its business revenue is generated mainly from one district viz., Surat. Any adverse development affecting the company operations in this region or any saturation could has an adverse impact on its business, financial condition and results of operations.
- The company business is dependent on high volume sales.
- The company Registered Office and other premises from where its operates is not owned by the company.
- Exclusive tie-ups of the distributors with specific retailers or groups of retailers could adversely impact the company ability to source products competitively.
- The company business is subject to seasonal and cyclical volatility dues to which there may be fluctuation in the sales of products which could lead to higher closing inventory position, which may adversely affect its business.
- The Company has negative cash flows in the past years, details of which is given below. Sustained negative cash flow could impact on its growth and Business.
- The Company has taken offices on lease /leave and license basis and in past some of the lease/ leave and license agreements were not renewed/not executed/inadequately executed or are not registered because of which operations may be adversely affected.
- The immediate relatives of the company Promoters, who are deemed to be a part of the Promoter Group under the SEBI (ICDR) Regulations 2018 has not provided consent, information or any confirmations or undertakings pertaining to themselves which are required to be disclosed as part of the Promoter Group in this Red Herring Prospectus.
- In case of the company inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operates its business it may has a material adverse effect on the company business.
- High price fluctuations of mobile phones and accessories driven by technological advancements leading to significant price drop of older models simultaneously.
- The Company's failures to maintain the quality standards of the products or keep pace with the technological developments could adversely impact its business, results of operations and financial condition.
- Substantial portion of the company revenue has been dependent upon few customers with which its does not has any firm commitments. The loss of any one or more of the company major customers would has a material adverse effect on its business, cash flows, results of operations and financial conditions.
- The company business operates in a highly competitive market with low entry barriers in the market, which could adversely affect its business, financial condition, and results of operations.
- The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further, the company has not identified any alternate source of financing the `Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
- The company business is capital-intensive dues to its Company Owned, Company Operated (COCO) model, and any inability to raise or efficiently utilize the required capital may adversely affect its business, financial condition and results of operations.
- The company has historically had a high level of leverage, and although its Debt-to-Equity ratio has improved, its may continue to faces the risks associated with borrowings.
- The Company has experienced a high rate of employee attrition in recent fiscal years, which may continue and adversely impact its operations, financial performance, and growth prospects.
- The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- Within the parameters as mentioned in the section titled "Objects of this Issue" beginning on page 98 of this Red Herring Prospectus, the Company's management will has flexibility in applying the proceeds of the Issue. The fund requirement and deployment mentioned in the Objects of this Issue has not been appraised by any bank or financial institution.
- There are certain discrepancies/errors/delay filings noticed in some of the company corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
- Competition from online retailers, who can Issue a broad range of products at competitive prices, may negatively impact the company business, financial condition, operating results, and cash flows.
- The company may be subject to risks associated with product warranty for the brand products.
- Any Inaccurate inventory management may adversely impact its goodwill, business operations, financial condition, and overall results of operations.
- The Company has entered into related party transactions in the past and may continue to enter into related party transactions in the future, which may potentially involve conflicts of interest with the Equity Shareholders.
- The company has certain outstanding litigation against its, an adverse outcome of which may adversely affect the company Business, reputation and results of operations.
- Past regulatory proceedings involving companies in which the company directors hold directorship may affect its reputation and investor confidence.
- The orders placed by customers may be delayed, modified or cancelled, which may has an adverse effect on the company Business, financial condition and results of operations.
- The company is unable to trace some of its historical records including minutes of the Board and Shareholders meetings and corresponding form filings and challans/receipts thereof. The company cannot assure you that no legal proceedings or regulatory actions will be initiated against its Company in the future in relation to these matters, which may impact the company financial condition and reputation.
- Any failures to protect or enforce the company rights to own or use its trademark could has an adverse effect on the company business and competitive position.
- The Company has incurred losses in the past years, details of which are given below.
- The company business may be exposed to product liability risks, which could negatively affect its financial performance, goodwill, reputation, and the marketability of the company products.
- Any increase in interest rates might has an adverse effect on the company results of operations and may expose its Company to interest rate risks.
- The company loan agreements with lenders has several restrictive covenants and certain unconditional rights in favour of the lenders, which could influence its ability to expand, in turn affecting the company Business and results of operations.
- Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- The company may not be fully insured for all losses its may incur.
- Unsecured loans taken by the Company can be recalled by the lenders at any time.
- The company has taken guarantees from its Directors in relation to debt facilities provided to the company.
- The company success largely depends upon the knowledge and experience of its Promoters, Directors, the company Key Managerial Personnel and Senior Management Personnel as well as its ability to attract and retain personnel with technical expertise. Any loss of the company Promoter, Directors, Key Managerial Personnel, Senior Management or its ability to attract and retain them and other personnel with technical expertise could adversely affect the company Business, financial condition and results of operations.
- Failures or disruption of the company IT, automation systems may adversely affect its Business, financial condition and results of operations.
- Any Penalty or demand raised by statutory authorities in future will affect its financial position of the Company.
- The company ability to pay dividends will depends upon future earnings, financial condition, cash flow, working capital requirements, capital expenditures and other factors.
- All the Directors (except the independent director, Mr. Aditya Patel) of the Company does not has prior experience of directorship in any of the companies listed on recognized stock exchanges, therefore, they will be able to provide only a limited guidance in relation to the affairs of the Company post listing.
- The risk of pricing pressure from customers could negatively impact the company ability to maintain profit margins and raise prices, potentially resulting in lower revenue, reduced profits, and cash flow challenges.
- The company cannot guarantee the accuracy or completeness of the facts and other statistics with respect to disclosures made in the section titled "Industry Overview" in this Red Herring Prospectus.
- The company inability to effectively manage its growth or to successfully implement the company Business plan and growth strategies could has an adverse effect on its Business, results of operations and financial condition. The success of the company Business will depends greatly on its ability to effectively implement the company Business and growth strategies.
- Failures to adapt to evolving industry standards and shifting consumer trends could negatively impact the company business, operational results, and financial condition.
- The company Promoters and members of the Promoter Group will continue jointly to retain majority control over its Company after the Issue, which will allow them to determine the outcome of matters submitted to Shareholders for approval.
- The company may inadvertently infringe on the intellectual property rights of third parties, which could lead to legal disputes or financial liabilities. Additionally, any unauthorized use or misappropriation of its own intellectual property could weaken the company competitive advantage and negatively affect its business.
- Employee misconduct, such as misuse of confidential information or failures to maintain data confidentiality, could cause significant harm to the company business. Such actions are often difficult to detect and prevent, and may result in reputational damage, legal exposure, or financial loss.
- If the company is unable to establish and maintain an effective internal controls and compliance system, its Business and reputation could be adversely affected.
- The company Directors, Key Managerial Personnel and Senior Management, may has interests other than reimbursement of expenses incurred and normal remuneration or benefits in its Company.
- The company engage third parties for certain aspects of its operations and any failures to maintain the company relationships with them could has an adverse effect on its Business, financial condition and results of operations.
- The company may has Issued Equity Shares during the last one year at a price below the Issue Price.
- There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the Emerge Platform of National Stock Exchange of India Limited (NSE SME) in a timely manner or at all.
Vinit Mobile Ltd Peer Comparison
Understand the company’s industry standing
Vinit Mobile Ltd
Bhatia Communications & Retail (India) Limited
Fonebox Retail Limited
Face Value
10
1
10
Standalone / Consolidated
Standalone
Standalone
Standalone
Total Income Rs. Cr.
59.99
442.72
342.73
EPS-Basis
9.73
1.1
4.43
EPS-Diluted
9.73
1.1
4.43
NAV Per Share
11.48
7.07
33.69
P/E-Basic EPS
---
24.25
22.20
P/E-Diluted EPS
---
---
---
RONW(%)
84.78
15.6
13.18
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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Enter details- PAN, Application number or DP client ID
Get your allotment status
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The IPO opens on 30 Jun 2026 & closes on 02 Jul 2026.
Vinit Mobile Limited was originally incorporated as a Private Limited Company as 'Tanya Silk Mills Private Limited' under the provisions of the Companies Act, 1956 dated May 26, 2011. Further the name of Company was changed from 'Tanya Silk Mills Private Limited' to 'Vinit Mobile Private Limited' on March 13, 2020, by the Registrar of Companies, Ahmedabad. Subsequently, the status of the Company was changed from private limited to public limited, and the name was changed to 'Vinit Mobile Limited' on May 21, 2025 by Registrar of Companies, Central Processing Centre, Manesar.
Company is in the business of operating a multi-brand mobile retail chain offering smartphones and accessories through 'COCO' (Company Owned, Company Operated) retail model. It deal in a wide range of mobile handsets of most of the major brands in India which includes Apple, One Plus, Motorola, Samsung, Vivo, Oppo, Realme and Xiaomi etc. Alongside smartphones, stores also deals in related products such as tablets, data cards, and a variety of accessories like earphones, chargers, power banks, screen guards and mobile covers.
The Company's current business operations commenced in FY 2022-23 after a change in management. It manages 32 Company-owned retail stores across Surat district, including locations such as Pandesara, Kadodara, Sachin, Amroli, Hazira, Sayan, Saroli, and Nilgiri. Under COCO model, the Company directly manages store operations, including recruitment and training of personnel, inventory planning and replenishment and customer service procedures. The COCO model supports consistency in operating practices across its retail network.
Company has filed a Draft Red Herring Prospectus with SEBI and is planning a fresh issue of 21,60,000 equity shares of face value Rs 10 through its IPO.
Vinit Mobile Ltd IPO will close on 02 Jul 2026.
- Multi-Brand Retailing and Partnership Opportunities.
- Own managed stores.
- Operating and financial performance growth.
- Diversified customer base.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Vinit Jalan | 1996980 | 49.8 | 1996980 | 32.37 |
| 2 | Shweta Jalan | 1435580 | 35.8 | 1435580 | 23.27 |
| 3 | Ranjana Jalan | 280700 | 7 | 280700 | 4.55 |
| 4 | Ravishankar Jalan | 280700 | 7 | 280700 | 4.55 |
| 5 | Vandana Agarwal | 4010 | 0.1 | 4010 | 0.06 |
| 6 | Vijaya Todi | 4010 | 0.1 | 4010 | 0.06 |
- The Promoter was engaged in a similar line of business through proprietorship firms prior to starting the business of the company.
- Opening and closing stores is a regular part of the Company's business and depends mainly on how much revenue each store generates.
- The company is facing challenge in obtaining registration under Gujarat Shops and Establishments Act, 2019 for 4 (Four) of its premises owing to property tax issue on behalf of original owner. In case of the company inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operates its business it may has a material adverse effect on the company business.
- The Company's business is highly dependent on the brand recognition and reputation of the products its Issue. Any failures to maintain or enhance the image of these brands could has a material adverse effect on the company business, financial condition, and results of operations.
- The company Restated Financial Information is prepared and signed by the Peer Review Auditor who is not Statutory Auditors of its Company as required under the provisions of ICDR.
- The Company is significantly dependent on a limited number of suppliers for the procurement of products. Any disruption, delay, or termination of business relationships with one or more of these key suppliers could adversely affect its ability to maintain inventory levels, fulfill customer demand, and operates efficiently.
- The company business is primarily focused on the distribution of telecom products, such as mobile devices, accessories, and related gadgets, which leaves its vulnerable to risks dues to the lack of diversification in the company product offerings.
- Dependence on Brand Partner Employees at Retail Stores of the Company.
- The company operations and revenues is limited to and concentrated in the geographical region of the State of Gujarat. In the State of Gujarat also its business revenue is generated mainly from one district viz., Surat. Any adverse development affecting the company operations in this region or any saturation could has an adverse impact on its business, financial condition and results of operations.
- The company business is dependent on high volume sales.
- The company Registered Office and other premises from where its operates is not owned by the company.
- Exclusive tie-ups of the distributors with specific retailers or groups of retailers could adversely impact the company ability to source products competitively.
- The company business is subject to seasonal and cyclical volatility dues to which there may be fluctuation in the sales of products which could lead to higher closing inventory position, which may adversely affect its business.
- The Company has negative cash flows in the past years, details of which is given below. Sustained negative cash flow could impact on its growth and Business.
- The Company has taken offices on lease /leave and license basis and in past some of the lease/ leave and license agreements were not renewed/not executed/inadequately executed or are not registered because of which operations may be adversely affected.
- The immediate relatives of the company Promoters, who are deemed to be a part of the Promoter Group under the SEBI (ICDR) Regulations 2018 has not provided consent, information or any confirmations or undertakings pertaining to themselves which are required to be disclosed as part of the Promoter Group in this Red Herring Prospectus.
- In case of the company inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operates its business it may has a material adverse effect on the company business.
- High price fluctuations of mobile phones and accessories driven by technological advancements leading to significant price drop of older models simultaneously.
- The Company's failures to maintain the quality standards of the products or keep pace with the technological developments could adversely impact its business, results of operations and financial condition.
- Substantial portion of the company revenue has been dependent upon few customers with which its does not has any firm commitments. The loss of any one or more of the company major customers would has a material adverse effect on its business, cash flows, results of operations and financial conditions.
- The company business operates in a highly competitive market with low entry barriers in the market, which could adversely affect its business, financial condition, and results of operations.
- The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further, the company has not identified any alternate source of financing the `Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
- The company business is capital-intensive dues to its Company Owned, Company Operated (COCO) model, and any inability to raise or efficiently utilize the required capital may adversely affect its business, financial condition and results of operations.
- The company has historically had a high level of leverage, and although its Debt-to-Equity ratio has improved, its may continue to faces the risks associated with borrowings.
- The Company has experienced a high rate of employee attrition in recent fiscal years, which may continue and adversely impact its operations, financial performance, and growth prospects.
- The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- Within the parameters as mentioned in the section titled "Objects of this Issue" beginning on page 98 of this Red Herring Prospectus, the Company's management will has flexibility in applying the proceeds of the Issue. The fund requirement and deployment mentioned in the Objects of this Issue has not been appraised by any bank or financial institution.
- There are certain discrepancies/errors/delay filings noticed in some of the company corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
- Competition from online retailers, who can Issue a broad range of products at competitive prices, may negatively impact the company business, financial condition, operating results, and cash flows.
- The company may be subject to risks associated with product warranty for the brand products.
- Any Inaccurate inventory management may adversely impact its goodwill, business operations, financial condition, and overall results of operations.
- The Company has entered into related party transactions in the past and may continue to enter into related party transactions in the future, which may potentially involve conflicts of interest with the Equity Shareholders.
- The company has certain outstanding litigation against its, an adverse outcome of which may adversely affect the company Business, reputation and results of operations.
- Past regulatory proceedings involving companies in which the company directors hold directorship may affect its reputation and investor confidence.
- The orders placed by customers may be delayed, modified or cancelled, which may has an adverse effect on the company Business, financial condition and results of operations.
- The company is unable to trace some of its historical records including minutes of the Board and Shareholders meetings and corresponding form filings and challans/receipts thereof. The company cannot assure you that no legal proceedings or regulatory actions will be initiated against its Company in the future in relation to these matters, which may impact the company financial condition and reputation.
- Any failures to protect or enforce the company rights to own or use its trademark could has an adverse effect on the company business and competitive position.
- The Company has incurred losses in the past years, details of which are given below.
- The company business may be exposed to product liability risks, which could negatively affect its financial performance, goodwill, reputation, and the marketability of the company products.
- Any increase in interest rates might has an adverse effect on the company results of operations and may expose its Company to interest rate risks.
- The company loan agreements with lenders has several restrictive covenants and certain unconditional rights in favour of the lenders, which could influence its ability to expand, in turn affecting the company Business and results of operations.
- Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- The company may not be fully insured for all losses its may incur.
- Unsecured loans taken by the Company can be recalled by the lenders at any time.
- The company has taken guarantees from its Directors in relation to debt facilities provided to the company.
- The company success largely depends upon the knowledge and experience of its Promoters, Directors, the company Key Managerial Personnel and Senior Management Personnel as well as its ability to attract and retain personnel with technical expertise. Any loss of the company Promoter, Directors, Key Managerial Personnel, Senior Management or its ability to attract and retain them and other personnel with technical expertise could adversely affect the company Business, financial condition and results of operations.
- Failures or disruption of the company IT, automation systems may adversely affect its Business, financial condition and results of operations.
- Any Penalty or demand raised by statutory authorities in future will affect its financial position of the Company.
- The company ability to pay dividends will depends upon future earnings, financial condition, cash flow, working capital requirements, capital expenditures and other factors.
- All the Directors (except the independent director, Mr. Aditya Patel) of the Company does not has prior experience of directorship in any of the companies listed on recognized stock exchanges, therefore, they will be able to provide only a limited guidance in relation to the affairs of the Company post listing.
- The risk of pricing pressure from customers could negatively impact the company ability to maintain profit margins and raise prices, potentially resulting in lower revenue, reduced profits, and cash flow challenges.
- The company cannot guarantee the accuracy or completeness of the facts and other statistics with respect to disclosures made in the section titled "Industry Overview" in this Red Herring Prospectus.
- The company inability to effectively manage its growth or to successfully implement the company Business plan and growth strategies could has an adverse effect on its Business, results of operations and financial condition. The success of the company Business will depends greatly on its ability to effectively implement the company Business and growth strategies.
- Failures to adapt to evolving industry standards and shifting consumer trends could negatively impact the company business, operational results, and financial condition.
- The company Promoters and members of the Promoter Group will continue jointly to retain majority control over its Company after the Issue, which will allow them to determine the outcome of matters submitted to Shareholders for approval.
- The company may inadvertently infringe on the intellectual property rights of third parties, which could lead to legal disputes or financial liabilities. Additionally, any unauthorized use or misappropriation of its own intellectual property could weaken the company competitive advantage and negatively affect its business.
- Employee misconduct, such as misuse of confidential information or failures to maintain data confidentiality, could cause significant harm to the company business. Such actions are often difficult to detect and prevent, and may result in reputational damage, legal exposure, or financial loss.
- If the company is unable to establish and maintain an effective internal controls and compliance system, its Business and reputation could be adversely affected.
- The company Directors, Key Managerial Personnel and Senior Management, may has interests other than reimbursement of expenses incurred and normal remuneration or benefits in its Company.
- The company engage third parties for certain aspects of its operations and any failures to maintain the company relationships with them could has an adverse effect on its Business, financial condition and results of operations.
- The company may has Issued Equity Shares during the last one year at a price below the Issue Price.
- There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the Emerge Platform of National Stock Exchange of India Limited (NSE SME) in a timely manner or at all.
The Issue type of Vinit Mobile Ltd is Book Building - SME.
The minimum application for shares of Vinit Mobile Ltd is 1600.
The total shares issue of Vinit Mobile Ltd is 2160000.
Initial public issue of upto 21,60,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Vinit Mobile Limited ("VML" or the "Company" or the "Issuer") for cash at a price of Rs. 158 per equity share (including a premium of Rs. 148 per equity share) ("Issue Price") aggregating to Rs. 34.13 Crores ("The Issue") of which 1,08,000 equity shares aggregating to Rs. 1.71 Crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. Net issue of 20,52,000 equity shares of face value of Rs. 10/- each at an issue price of Rs. 158 per equity share aggregating to Rs. 32.42 Crores ("Net Issue"). The issue and the net issue will constitute 35.01% and 33.26% respectively of the post issue paid-up equity share capital of the company.
Price Band: Rs. 158/- per equity share of face value Rs. 10/- each.
The floor price is 15.80 times of the face value of the equity shares.
Bids can be made for a minimum of 1600 equity shares and in multiples of 800 equity shares thereafter.