Cellecor Gadgets IPO: Issue booked 18.41 times on day 2: check subscription status, latest GMP, other details

Cellecor Gadgets IPO: The initial public offering (IPO) of Cellecor Gadgets, which opened for subscription on September 15, has received stellar subscription so far.

The ₹50.77 crore worth Cellecor Gadgets IPO will close for bidders on September 20. It is an SME IPO and the shares of Cellecor Gadgets Ltd are proposed to be listed on NSE SME exchange.

Cellecor Gadgets IPO Subscription Status

Cellecor Gadgets IPO was fully subscribed on the first day itself. As per the information available on chittorgarh.com, the Cellecor Gadgets IPO has been subscribed 18.41 times as it has received bids for 6,75,62,400 shares against 5,518,800 shares on the offer.

The retail portion of the SME IPO has been subscribed 31.50 times, while the Non-Institutional Investors (NII) category received 12.28 times subscription. The Qualified Institutional Investors' (QIB) portion was booked 0.10 times.

Also Read: Cellecor Gadgets IPO: GMP jumps as NSE SME IPO gets fully subscribed on day one

Cellecor Gadgets IPO GMP Today

Cellecor Gadgets IPO GMP today, or grey market premium today, is ₹60 per share, according to market observers. This indicates that Cellecor Gadgets shares are trading higher by ₹60 than their issue price, in the grey market.

Market observers said that the grey market is trying to signal that Cellecor Gadgets shares may have a strong debut on Dalal Street when it makes a debut in the secondary market. They said that Cellecor Gadgets IPO GMP today is ₹60 per share, which means the issue is expected to list at ₹152 ( ₹92 + ₹60), which is around 65% higher from Cellecor Gadgets IPO price band of ₹87 to ₹92 per equity share.

Cellecor Gadgets IPO details

Cellecor Gadgets IPO opened for subscription September 15 and the bidding for the SME IPO will remain open till September 20. The IPO allotment date is expected to be on September 25, while the company may initiate refunds on September 26 and credit the shares to the demat accounts of eligible allottees on September 27.

Cellecor Gadgets shares are expected to list on September 28 at NSE SME.

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The Cellecor Gadgets IPO price band is fixed at ₹87 to ₹92 per equity share. The IPO comprises a fresh issue of 55,18,800 equity shares aggregating up to ₹50.77 crore. The face value of each share is ₹10 apiece.

Cellecor Gadgets IPO lot size is 1,200 shares and the minimum investment amount for retail investors is ₹110,400.

The company has already raised ₹14.46 crore from anchor investors ahead of the IPO opening.

Narnolia Financial Services Ltd is the book running lead manager of the Cellecor Gadgets IPO, while Skyline Financial Services Private Ltd is the IPO registrar.