Cellecor Gadgets IPO hits Street: Check out issue price, lot size, listing date and other important details

The IPO of Cellecor Gadgets, a consumer electronics brand, on Friday hit the Dalal Street. Backed by Tano Investment, the IPO subscription will close on September 20 and will remain open for subscription from 10 am to 5 pm during the trading period.

Cellecor Gadgets IPO issue price:  The issue comprises the sale of 55.18 lakh fresh equity shares in the price range of Rs 87-92 at Rs 10 face value. The company aims to raise Rs 50.77 crore through the offer. The lot size for the IPO is set at 1,200 equity shares. Each lot will cost Rs 1,10,400.

Cellecor Gadgets IPO allotment date: The basis of the allotment of shares under the SME IPO is likely to be finalised on September 25. For unsuccessful bidders, the refund will be initiated one day before the allotment i.e. September 26.

Successful bidders will likely get shares credited into their Demat accounts on September 27. The allotment status will be released on the registrar's website which is Skyline Financial Services.

Cellecor Gadgets IPO Listing: The equity shares are likely to be listed on the National Stock Exchange's SME platform on September 28.

Ahead of the IPO, Cellecor finalised the allocation of more than 15 lakh equity shares to anchor investors India Ahead Venture Trust, Founders Collective Fund, Meru Investment Fund and AG Dynamics at Rs 92 apiece. 

What does Cellecor Gadgets do?

Based out of New Delhi, Cellecor Gadgets is a consumer electronics brand. It is engaged in the procurement, branding, and distribution of electronic products.

 According to the draft red herring prospectus (DRHP) or the offer document. As per the offer document, promoters' shareholding in Cellecor Gadgets will reduce to 51.54 per cent after the completion of the issue. The net proceeds will be utilised to meet working capital requirements and general corporate purposes.