Umiya Mobile shares list with 2% premium over IPO price on BSE SME platform

Umiya Mobile debuted on the BSE SME platform on Monday, listing at Rs 67.4 apiece, a mere 2% premium over the IPO price. The IPO received an overwhelming response from retail and HNI investors during the subscription process. However, a grey market premium (GMP) of Rs 0 just ahead of the listing had hinted at a subdued debut.

The Rajkot-based electronics retailer raised Rs 24.88 crore through a fresh issue of 37.7 lakh equity shares at a fixed price of Rs 66 per share.

Umiya Mobile is a multi-brand retail chain that deals in smartphones, accessories, laptops, and consumer electronics such as smart TVs, refrigerators, and air conditioners. It has a pan-Gujarat presence with 149 stores and another 69 in Maharashtra.


While the company has shown impressive revenue growth — a 33% rise in FY25 to Rs 601 crore — its PAT margin remains wafer-thin at just under 1%. Nonetheless, PAT jumped 141% to Rs 5.66 crore, supported by operating leverage and expanding footprint.

The IPO proceeds will go toward debt repayment and general corporate purposes.

While the fundamentals are decent and the brand has built a strong regional retail network, market watchers remain cautious.

The company operates in a competitive, low-margin business with high working capital requirements. Moreover, the lack of a GMP reflects subdued expectations ahead of the listing.

With no premium signaled in the unofficial market, all eyes are now on whether Umiya Mobile can deliver a surprise pop or if the retail exuberance was misplaced.