Vinit Mobile IPO
ListedSME
1.62×
Subscribed
Price band
₹150 – ₹158
Issue size
₹34.13 Cr
Open – close
30 Jun 2026
to 02 Jul 2026
Listing
07 Jul 2026
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong7 of 7 dimensions read
The disclosed numbers are strong — 7 of 8 signals read positive
Strength95/100
- Priced below its peers15.8× earnings against a peer median of 22.2× — a discount to the issuer's own comparison set
- Out-earns its peersReturn on net worth of 84.8% against a peer median of 15.6%
- Strong revenue growthRevenue compounding at 360.1% across the reported years
- High return on equityROE of 52.6%
- Conservative balance sheetDebt/equity of 0.62×
- Fresh capital for the business100.0% of the issue is fresh capital raised by the company itself
- Minimal related-party dealingsRelated-party transactions are only 1.1% of revenue
- Institutional book coveredQIB portion subscribed 1.00×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens30 Jun 2026
- Closes02 Jul 2026
- Listing07 Jul 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB1.00x
Non-institutionalNII / HNI0.80x
Big NIIabove ₹10L0.88x
Small NII₹2L – ₹10L0.63x
Retail individualRII2.18x
1,759 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 02 Jul 2026.
Chance of allotment
Retail2.18× subscribed
~1 in 2.2
Retail is 2.18× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 2.2 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII0.80× subscribed
Full allotment
The HNI portion is under-subscribed at 0.8×, so applications should be allotted in full.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹150 – ₹158
Total issue size₹34.13 Cr
Fresh issue₹34.13 Cr
Listing atSME platform
Company & valuation
P/E at upper band15.80×
EPS₹5.47pre-issue
NAV per share₹24.22
Return on equity52.61%
Debt / equity0.62×
EBITDA margin13.60%
Related-party1.15%of revenue
ROCE46.48%
RoNW52.61%
PAT Margin9.12%
EBITDA Margin13.60%
NAV24.22
ISININE27V201011
RegistrarBigshare Services Private Limited
Lead managersComfort Securities Limited
0.0% of this issue is an offer for sale. The rest is fresh capital that goes into the company itself.
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB Shares Offered | 21,600 | 1.00% |
| NII (HNI) Shares Offered | 8,20,800 | 38.00% |
| bNII > ₹10L | 5,47,200 | 25.33% |
| sNII < ₹10L | 2,73,600 | 12.67% |
| Retail Shares Offered | 12,09,600 | 56.00% |
| Market Maker Shares Offered | 1,08,000 | 5.00% |
Total issue 21,60,000 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,52,8002 lots · 1,600 sh
Individual investors (IND) (Max)₹2,52,8002 lots · 1,600 sh
S-HNI (Min)₹3,79,2003 lots · 2,400 sh
S-HNI (Max)₹8,84,8007 lots · 5,600 sh
B-HNI (Min)₹10,11,2008 lots · 6,400 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
What the money is for
Stated use of the net proceeds
- 01Set up of New Stores₹0.62 Cr
- 02Working Capital₹23.75 Cr
- 03General corporate purposes₹5.12 Cr
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2023 | 0.7 | — | — | 0.681 | 2.51 |
| 2024 | 4.603 | — | — | 4.703 | 3.037 |
| 2025 | 14.83 | — | — | 9.711 | 6.068 |
Revenue CAGR 360.1%
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Vinit Mobile Limitedthis issue | 9.73 | 16.24 | 11.48 | 84.78% |
| Bhatia Communications & Retail (India) Limited | 1.10 | 24.25 | 7.07 | 15.60% |
| Fonebox Retail Limited | 4.43 | 22.20 | 33.69 | 13.18% |
| Umiya Mobile Limited | 5.42 | 14.02 | 13.69 | 40.51% |
Blank cells are figures the offer document does not publish. An unlisted issuer has no market price, so it has no price-based multiple until it lists — which is exactly why the comparison is against companies that already trade. The peer set is the issuer's own selection, so read it as the flattering-est comparison available rather than a neutral one.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumThe company is facing challenges in obtaining registration under the Gujarat Shops and Establishments Act, 2019 for 4 of its premises due to property tax issues on behalf of the original owner. These premises contribute to a significant percentage of total revenue (9.82% as of December 31, 2025). Th
Litigation
Except as stated below there is no pending criminal litigation involving our Company, Directors, Promoters, Key Managerial Persons(KMPs) or Senior Managerial Persons (SMPs); actions taken by statutory or regulatory authorities involving our Company, Directors, Promoters or ; outstanding claims involving our Company, Directors or Promoters for any direct and indirect tax liabilities; outstanding proceedings initiated against our Company for economic offences; defaults or non-payment of statutory dues by our Company; material fraud against our Company in the last five years immediately preceding the year of this Prospectus; inquiry, inspection or investigation initiated or conducted under the Companies Act 2013 or any previous companies law against our Company during the last five years immediately preceding the year of this Prospectus and if there were prosecutions filed (whether pending or not); fines imposed or compounding of offences for our Company in the last five years immediately preceding the year of this Prospectus; litigation or legal action against our Promoters by any ministry or Government department or statutory authority during the last five years immediately preceding the year of this Prospectus; pending litigations involving our Company, Directors, Promoters or any other person, as determined to be material by the Company’s Board of Directors in accordance with the SEBI (ICDR) Regulations; or outstanding dues to creditors of our Company as determined to be material by our Company’s Board of Directors vide resolution passed in its meeting held on September 25, 2025, in accordance with the SEBI (ICDR) Regulations and dues to small scale undertakings and other creditors.
Positives the filing discloses (3)
Primarily fresh capital
100% of the offer is fresh issue, so most proceeds fund the company.
Strong revenue growth
Restated revenue CAGR of 360.1%.
Healthy return on equity
ROE of 52.6%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-2.2%
Listed up
1 of 8
Best
+0.4%
Papadmalji Agro Foods Limited
Worst
-17.5%
Himalayan Solar
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Green Asia Impexsame segment
1.0× sub+0.0%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Dudani Retailsame segment
1.4× sub-13.8%
Himalayan Solarsame segment
1.2× sub-17.5%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Vinit Mobile IPO subscribed?
Vinit Mobile is subscribed 1.62× overall (QIB 1.00×, NII 0.80×, retail 2.18×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, Bigshare Services Private Limited.
What are the chances of allotment in the Vinit Mobile IPO?
The retail portion is subscribed 2.18×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 2. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.