Hot Pursuit News Details

NSE SME Vinit Mobile's market call drops on the first ring

(07-Jul-26   10:45)

The scrip was listed at Rs 155, a 1.90% discount to the initial public offer (IPO) price. The counter hit a high of Rs 155 and a low of Rs 155. About 1.51 lakh shares of the company changed hands at the counter.

Vinit Mobile's IPO was subscribed 1.58 times. The issue opened for bidding on 30 June 2026 and it closed on 2 July 2026. The price band of the IPO was fixed between Rs 150 to Rs 158 per share.

The IPO comprised 21,60,000 equity shares. The company intends to utilize the net proceeds for to establish new retail stores across strategic locations to enhance market presence and drive revenue growth, Funds will support day-to-day operational requirements, including inventory, vendor payments, and other short-term financial obligations and to meet general business needs such as brand development, technology upgrades, and other strategic initiatives to support overall growth.

Vinit Mobile operates a multi-brand mobile retail business with a network of 35 stores, offering smartphones from leading brands such as Apple, Samsung, Vivo, Oppo, Xiaomi, OnePlus, Motorola and Realme, along with tablets and mobile accessories including chargers, earphones, power banks, screen guards and covers. Besides retail sales, the company also caters to B2B customers by supplying mobile handsets and accessories in bulk to small and mid-sized retailers and corporate clients. As of May 31, 2026, the company has 46 employees.

The company recorded revenue from operations of Rs 55.36 crore and net profit of Rs 5.10 crore for the period ended 31st December 2025.

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