Cellecor Gadgets IPO Subscription Ends Today

Cellecor Gadgets IPO Subscription Ends Today

VoM News Desk | September 20, 2023 | 07:31 AM IST | Breaking News | Follow on Google News

Cellecor Gadgets IPO Subscription Ends Today

The initial public offering (IPO) of Cellecor Gadgets Limited will conclude today, September 20, 2023. Investors have until the end of the subscription period to apply for shares in this Sunil Singhania-backed SME issue.

Here are some key details about the Cellecor Gadgets IPO:

• The IPO opened for subscription on September 15 and will close today, September 20.
• Cellecor Gadgets IPO is backed by Sunil Singhania-owned Abakkus Asset Manager, which serves as the investment manager of India Ahead Venture Trust, one of the anchor investors in the public offering.
• The price range for the book build issue is ₹87 to ₹92 per equity share.
• Shares of Cellecor Gadgets are trading at a premium of ₹60 in the grey market today, indicating strong investor interest.
• Cellecor Gadgets IPO has witnessed a steady rise in its grey market premium (GMP) since opening, from ₹33 to ₹60 per share.
• The expected listing price based on the GMP is around ₹152 (₹92 + ₹60), which represents a potential listing gain of more than 65% from the IPO price band of ₹87 to ₹92 per share.

Current Subscription Status:

As of 11:56 AM on the last day of bidding, the SME issue has been subscribed 24.66 times. Bids have been received for 13,61,40,000 shares against the offered 5,518,800 shares. The retail portion of the NSE SME IPO has been subscribed 59.53 times.

Sunil Singhania’s Connection:

Cellecor Gadgets IPO received ₹14,46,24,000 from four anchor investors ahead of the subscription opening. These anchor investors include India Ahead Venture Trust, Founder Collective Fund, Meru Investment Fund PCC, and AG Dynamics. Sunil Singhania’s Abakkus Asset Manager serves as the investment manager for India Ahead Venture Trust, indirectly backing the SME issue.

IPO Timetable:

• The IPO allotment date is expected to be around September 25, 2023.
• The book build SME issue is proposed for listing on the NSE SME exchange.
• The most likely Cellecor Gadgets IPO listing date is September 28, 2023.

Investors interested in this IPO should consider their investment objectives and risk tolerance before participating. Grey market premium (GMP) and subscription status can provide some insight into market sentiment but may not guarantee future performance.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.