The initial public offering of Vinit Mobile Ltd opened for public subscription on Tuesday, June 30, with the bidding process scheduled to close on July 2, Thursday. According to reports from Livemint, the IPO allotment is expected to be finalized on July 3, Friday, while the shares will be listed on the NSE SME platform on July 7, Tuesday. The company operates as a multi-brand mobile retailer, running 35 company-owned and company-operated (COCO) retail stores across the Surat district and Jaipur district of Rajasthan.
The IPO is priced in the ₹150 to ₹158 per share range, with an IPO lot size of 800 shares. As reported by Livemint, the minimum investment amount required by retail investors is ₹2,52,800. The company aims to raise ₹34.13 crore from the book-building issue, which is entirely a fresh issue of 21.60 lakh equity shares. Comfort Securities Ltd. serves as the book running lead manager, while Bigshare Services Pvt. Ltd. acts as the registrar for the public issue.
According to NSE data reported by Livemint, the Vinit Mobile IPO has been subscribed 2% as of 11:20 AM on June 30, the first day of bidding. The retail individual investors category showed 3% subscription, while the Non-Institutional Investors (NII) segment recorded 1% subscription. The Qualified Institutional Buyers (QIB) segment has yet to participate in the bidding process. As per the latest subscription data, the retail individual investor segment has been offered 1,209,600 shares (56% of total), while the NII segment has been allocated 8,20,800 shares (38% of total).
The grey market trends for Vinit Mobile shares remain muted, with a nil grey market premium (GMP) of ₹0 according to latest grey market tracking. As reported by Uniresearch, this GMP indicates that the grey market is not pricing in any premium above the issue price ahead of the IPO opening. This nil Vinit Mobile IPO GMP suggests that informal market participants expect the stock to list at or near the issue price of ₹158 on the NSE SME platform. The nil GMP may reflect investor caution about the company's valuation relative to listed mobile retail peers, some of which trade at significantly lower P/E multiples.
The company operates a company-owned and company-operated (COCO) retail model across its network, directly managing staffing, inventory, billing, pricing, and day-to-day operations. According to the prospectus, Vinit Mobile has demonstrated rapid expansion with store count increasing from 1 in FY23 to 32 by December 31, 2025, while revenue from operations grew from ₹0.002 crore in FY23 to ₹59.99 crore in FY25. The company retails products from major brands including Apple, Samsung, Vivo, Oppo, Xiaomi, Motorola, Google Pixel, and Realme, while offering point-of-sale financing through partners like Bajaj Finserv and HDB Financial Services. Revenue grew from ₹28.59 crore in FY24 to ₹60.63 crore in FY25, and PAT grew from ₹0.72 crore to ₹3.90 crore during the same period.
