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Vinit Mobile Ltd IPO
Vinit Mobile Ltd
₹2,40,000 /1600 sharesMinimum investment
IPO listing details
Listed on
7 Jul '26
Issue price
₹158.00
Listing price
₹155.00
Listing gains
-₹3.00 (1.90%)
Exchange
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IPO details
Minimum investment
₹2,40,000
Price range
₹150 - ₹158
Lot size
800
Issue size
34.13 Cr
Face value
10
IPO document
Subscription rate
Qualified Institutional Buyers1.00x
Non-Institutional Investor0.82x
Retail Individual Investor2.17x
Total1.58x
As of 02 Jul'26, 05:02 PM
Schedule
30 Jun 2026
IPO open date
2 Jul 2026
IPO close date
3 Jul 2026
Allotment date
3 Jul 2026
Funds unblock or debit
7 Jul 2026
Tentative listing date
About
Founded in
2011
MD/CEO
Mr. Vinit Jalan
Parent organisation
Vinit Mobile Ltd
Vinit Mobile Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company claims to operate a company-owned and company-operated (COCO) retail model across its store network. Under this model, it directly manages staffing, inventory, billing, pricing, and day-to-day store operations, which may help maintain consistency across its retail outlets and improve operational control.
The company claims to have built a sizeable offline retail presence within a relatively short period. As of the date of the prospectus, it operates 35 company-owned stores across Surat (Gujarat) and Jaipur (Rajasthan) under three retail brands, enabling it to serve different customer segments while leveraging centralised procurement and back-end operations.
The company claims to have established relationships with several leading mobile handset brands and financial institutions. It retails products from brands such as Apple, Samsung, Vivo, Oppo, Xiaomi, Motorola, Google Pixel, and Realme, while also offering point-of-sale financing through partners like Bajaj Finserv, HDB Financial Services, and TVS Credit, subject to customer eligibility.
The company claims to use a centralised technology platform for inventory and store management. Its APX ERP system is used for billing, inventory tracking, customer engagement, and operational monitoring across retail outlets, enabling centralised oversight of store-level operations and inventory planning.
The company has demonstrated rapid expansion in its retail network and business operations. The number of stores increased from 1 in FY23 to 19 in FY24, 24 in FY25, and 32 by December 31, 2025, while revenue from operations grew from Rs 0.002 crore in FY23 to Rs 28.56 crore in FY24 and Rs 59.99 crore in FY25.
Vinit Mobile generates virtually all of its revenue from Surat in Gujarat, making its business heavily dependent on the economic conditions and consumer demand of a single region. Market saturation, regional economic slowdown, regulatory changes, or disruptions in Gujarat could significantly affect its sales, expansion plans, and financial performance.
The company is significantly dependent on a limited number of suppliers. The top 10 suppliers accounted for purchases of Rs 43.72 crore (83.21%), Rs 49.44 crore (92.32%), Rs 26.88 crore (93.24%), and Rs 0.002 crore (100%) during the period ended December 31, 2025, and FY25, FY24, and FY23, respectively. Any disruption in relationships with these suppliers, changes in pricing or credit terms, or supply chain issues could impact inventory availability, sales, and profitability.
The top 10 customers contributed Rs 16.19 crore (29.25%), Rs 13.91 crore (23.19%), and Rs 3.36 crore (11.75%) of revenue from operations during the period ended December 31, 2025, and FY25 and FY24, respectively. Any reduction in business from these key customers, delays in payments, or loss of key customer relationships could adversely affect its revenue, cash flows, and financial performance.
Due to pending property tax issues of the respective landlords, the company has been unable to obtain the required registration for four retail outlets. These stores contributed 9.82%, 7.40%, and 10.45% of revenue during the period ended December 31, 2025, and FY25 and FY24, respectively. Any regulatory action, penalties, or operational restrictions at these locations could adversely impact the business.
The company reported negative cash flow from operating activities of Rs 2.76 crore and Rs 2.83 crore during the period ended December 31, 2025, and FY24, respectively. It also reported negative cash flow from investing activities of Rs 0.28 crore, Rs 0.63 crore, and Rs 0.05 crore during the period ended December 31, 2025, FY25, and FY24, respectively. Additionally, it reported negative cash flow from financing activities of Rs 0.48 crore in FY25. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
Vinit Mobile primarily deals in smartphones, accessories, and related telecom products, with limited diversification into other retail categories. Rapid technological changes, product obsolescence, changing consumer preferences, or a slowdown in the mobile handset market could have a significant impact on its revenue and profitability.
The company has disclosed several historical corporate compliance lapses and missing statutory records. The prospectus highlights delays in statutory filings, filing discrepancies, missing historical corporate records, and loss of secretarial documents during office relocation. Although corrective actions have been initiated, any future regulatory action or penalties could adversely affect the company's reputation and financial position.
Application details
For Vinit Mobile IPO, eligible investors can apply as Individual investor.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Individual investor | ₹150 - ₹158 | ₹2 - ₹5 Lakhs | 800 |
About
Objective of Vinit Mobile IPO Proceeds
|
Particulars |
Estimated Amount (in ₹ Cr.) |
|
To fund the setting up of new stores. |
0.62 |
|
To fund the working capital requirements of the Company. |
23.75 |
|
General corporate purposes. |
[.] |
|
Total |
[.] |
Book Running Lead Managers & Registrar of Vinit Mobile IPO
|
Book Running Lead Manager |
Comfort Securities Limited |
|
Registrar to the Issue |
Bigshare Services Private Limited |
|
Market Maker to the Issue |
Comfort Securities Limited |
Key Performance Indicators (KPIs) of Vinit Mobile Ltd.
|
KPI |
Value (for the period ended December 31, 2025) |
|
ROE (%) |
52.6 |
|
ROCE (%) |
46.48 |
|
EBITDA Margin (%) |
13.60 |
|
Debt-to-Equity Ratio |
0.62 |
|
PAT Margin (%) |
9.12 |
|
EPS (Pre-IPO) (₹) |
12.74 |
|
Return on Net Worth (RoNW) (%) |
52.61 |
|
Net Asset Value (NAV) per Equity Share (₹) |
24.22 |
Vinit Mobile IPO Contact Details
|
Company Name |
Vinit Mobile Limited |
|
Registered Office |
Plot No. 358, Ground, 1st & 2nd floor, Gopal Nagar, Bamroli Althan Expressway, Pandesara, Surat, Gujarat – 394221 |
|
Phone |
+91 9227984148 |
|
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|
|
Website |
Vinit Mobile IPO Registrar Contact Details
|
Company Name |
Bigshare Services Private Limited |
|
Phone |
022-6263-8200 |
|
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Website |