Cellecor Gadgets IPO Witnesses Tremendous Subscription Ahead of Closing Date

Cellecor Gadgets IPO Witnesses Tremendous Subscription Ahead of Closing Date

VoM News Desk | September 18, 2023 | 11:09 AM IST | Breaking News | Follow on Google News

Cellecor Gadgets IPO Witnesses Tremendous Subscription Ahead of Closing Date.

The initial public offering (IPO) of Cellecor Gadgets has captivated the market’s attention since its subscription window opened on September 15. With an impressive response from investors, this SME IPO, valued at ₹50.77 crore, is scheduled to conclude on September 20, with the company’s shares set to be listed on the NSE SME exchange.

Cellecor Gadgets IPO Subscription Status

The Cellecor Gadgets IPO made a remarkable debut by achieving full subscription on the very first day. According to data available on the NSE website, the IPO has garnered a whopping 11.50 times subscription. This overwhelming response translates to bids received for 4.22 crore shares against the available 36.70 lakh shares, as of 3:35 pm. Notably, the retail segment of the SME IPO has been oversubscribed by 19.91 times, while Non-Institutional Investors (NII) have shown substantial interest with a 7.16 times subscription. In contrast, the Qualified Institutional Investors’ (QIB) portion has been subscribed to a lesser extent, at 0.05 times.

Grey Market Premium (GMP) for Cellecor Gadgets IPO

Market observers have kept a close eye on the grey market premium (GMP) for Cellecor Gadgets IPO, which currently stands at ₹60 per share. This signals that Cellecor Gadgets shares are trading significantly higher, indicating strong anticipation for a robust market debut. Based on this GMP, it is expected that the issue will list at ₹152 (₹92 + ₹60), representing a substantial 65% increase from the IPO’s price band of ₹87 to ₹92 per equity share.

Key Details of Cellecor Gadgets IPO

The Cellecor Gadgets IPO subscription period commenced on September 15 and will remain open until September 20. The allotment of shares is anticipated on September 25, followed by the initiation of refunds on September 26. On September 27, the shares will be credited to the demat accounts of eligible allottees. Market enthusiasts can anticipate the listing of Cellecor Gadgets shares on September 28 at NSE SME.

The IPO offers shares within a price band of ₹87 to ₹92 per equity share. It comprises a fresh issue of 55,18,800 equity shares, aggregating to ₹50.77 crore. Each share holds a face value of ₹10. The lot size for Cellecor Gadgets IPO is 1,200 shares, with the minimum investment requirement for retail investors set at ₹1,10,400. Prior to the IPO launch, the company successfully secured ₹14.46 crore from anchor investors.

Key Players in Cellecor Gadgets IPO

Narnolia Financial Services Ltd is the book running lead manager for the Cellecor Gadgets IPO, while Skyline Financial Services Private Ltd will serve as the IPO registrar. As excitement continues to build around this offering, investors and market enthusiasts eagerly await the forthcoming listing and trading of Cellecor Gadgets shares.

VoM News Desk

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