Initial public offer of upto 28,29,600 equity shares of face value of Rs. 10/- each ("Equity Shares") of Mehul Telecom Limited ("MTL" or "The" "Company") at an issue price of Rs. 98 per equity share (including a share premium of Rs. 88 per equity share) for cash, aggregatig up to Rs. 27.73 Crores ("Public Issue"), out of which 1,44,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 98 per equity share for cash, aggregating Rs. 1.41 Crores will be reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. Issue of 26,85,600 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 98 per equity share for cash, aggregating up to Rs. 26.32 Crores is herein after referred to as the "Net Issue". The public issue and net issue will constitute 27.70% and 25.70% respectively of the post-issue paid-up equity share capital of the company. Price Band is Rs. 96 to Rs. 98 per equity share of face value of Rs. 10/- each. The floor price is 9.6 times of the face value and the cap price is 9.8 times of the face value. Bids can be made for a minimum of two lot and in multiples of 1,200 equity shares thereafter.