Cellecor Gadgets to raise Rs 442.2 million fund - Details

Homegrown technology brand Cellecor Gadgets has informed exchanges that its board has approved the raising of funds by issuing securities on a preferential basis.  The company said that it will issue and allot up to 80,00,000  equity shares with a face value of Re 1 each.

"issuing and allotting up to 80,00,000 (Eighty Lakhs Only) Equity Share having face value of Re.1/- each, to the persons belonging to certain Foreign Institutional Investors, other Strategic Investors, under “Non-Promoter, Public Category on preferential basis, at an issue price higher than the floor price determined in accordance with the Regulation 164 of Chapter V of SEBI ICDR Regulations, payable in cash," the company said.

The company can also issue and allot up to 30,00,000 fully convertible warrants convertible into an equivalent number of fully paid-up equity shares of the company.

Meanwhile, the company is all set to launch its latest range of laptops and 5G smartphones this September, just ahead of the upcoming festive season. 

The Cellecor 5G smartphones will come with storage options of 64GB and 128GB along with expandable memory. 

"Powered by Android 14.0, it delivers smooth performance, enhanced privacy, and customization. Enjoy blazing-fast 5G speeds, seamless streaming, and efficient multitasking. Its sleek design and premium materials, available in two stylish colours, blend functionality with flair," the company said in a release.

According to the company, they are on a mission to revolutionize learning and therefore their laptops have been designed to make "Education for All Affordable" regardless of where you are.