Vinit Mobile IPO
smelistedAbout the company
Vinit Mobile is engaged in the multi-brand mobile retail business. The company sells smartphones from leading brands including Apple, OnePlus, Motorola, Samsung, Vivo, Oppo, Realme and Xiaomi. Apart from mobile phones, the company also offers tablets, data cards, and a wide range of accessories, such as earphones, chargers, power banks, screen guards, and mobile covers, through its retail outlets. As of the date of the RHP, the company operates 35 company-owned stores across the Surat district of Gujarat and the Jaipur district of Rajasthan. The company follows a Company-Owned Company-Operated (COCO) model. Under this structure, all stores are directly managed by the company, which handles staff recruitment and training, inventory planning, stock replenishment, pricing, promotional activities, and customer service. The company has tie-ups with financial institutions such as Bajaj Finserv, HDB Financial Services and TVS Credit, which enable customers to purchase products through EMI and financing schemes. Apart from retail sales, it also undertakes B2B business, supplying mobile phones and accessories in bulk to small and medium retailers as well as corporate customers. The company operates through three retail brands: Vinit Mobile Limited, VR Mobile and RJ Mobile. As of the date of RHP, the company operated 24 stores under Vinit Mobile Limited, 8 stores under VR Mobile and 3 stores under RJ Mobile. Retail stores have grown from 19 in FY24 to 35 as of the date of RHP. Average revenue per store per annum increased from ₹0.22 lakhs in FY23 to ₹249.95 lakhs in FY25. The company derives most of its business from mobile phone sales. Mobile phones contributed 96.59% of revenue from operations during 9MFY26, compared with 97.65% in FY25, while accessories and appliances together contributed the remaining revenue. Sales channel-wise, B2C retail sales remain the company's largest revenue contributor. B2C sales accounted for 62.45% of revenue during 9MFY26 and 67.70% in FY25. Revenue contribution from B2B sales increased from 14.36% in FY24 to 37.55% during 9MFY26.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 02 Jul | ₹30 | ₹188 | 0 |
| 01 Jul | ₹30 | ₹188 | 0 |
| 30 Jun | ₹30 | ₹188 | +30 |
| 29 Jun | ₹0 | ₹158 | 0 |
| 28 Jun | ₹0 | ₹158 | 0 |
| 27 Jun | ₹0 | ₹158 | 0 |
| 26 Jun | ₹0 | ₹158 | 0 |
| 25 Jun | ₹0 | ₹158 | 0 |
Strengths
- Strong presence in the multi-brand mobile retail segment with offerings from leading smartphone brands.
- Company-Owned, Company-Operated (COCO) business model provides better operational control.
- Established retail network with a strong regional footprint and customer base.
- Diversified customer mix reduces dependence on a limited number of buyers.
- Consistent revenue growth and profitable business operations.
- Healthy profitability and return ratios indicate operational efficiency.
- Long-term relationships with major smartphone brands support business growth.
- Experienced management team with industry knowledge and retail expertise.
Risks
- High dependence on third-party smartphone brands and their market performance.
- Intense competition from online marketplaces and organized retail chains.
- Geographic concentration may expose the business to regional economic risks.
- Expansion plans require continuous capital investment and efficient execution.
- Rapid technological changes can lead to inventory obsolescence.
- Margins may come under pressure due to pricing competition in the mobile retail sector.
- Business performance is linked to consumer spending and demand for discretionary products.
- Any disruption in product supply from key brands could impact sales and profitability.
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
Completed30 Jun 2026Bidding starts for all investor categories
IPO Closes
Completed02 Jul 2026Last day to place your bid
Basis of Allotment
Completed03 Jul 2026Share allotment finalised
Refund Initiation
Completed06 Jul 2026Refunds credited for non-allottees
Credit to Demat
Completed06 Jul 2026Allotted shares credited to demat account
Listing on Exchange
Completed07 Jul 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 800 | ₹126,400 | 1 | ₹126,400 | 1 lot only |
| HNI | 2 | 1600 | ₹252,800 | 2 | ₹252,800 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 1,103,896 | 17 | 0 | 0.00x | 100% |
| NII | 15% | 331,169 | 5.1 | 3,312 | 0.01x | 100% |
| Retail | 35% | 772,727 | 11.9 | 77,273 | 0.10x | 100% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
