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Business News/ Markets / Ipo/  Sunil Singhania-backed Cellecor Gadgets IPO closes today. Latest GMP, subscription status, other details
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Sunil Singhania-backed Cellecor Gadgets IPO closes today. Latest GMP, subscription status, other details

Cellecor Gadgets IPO GMNP today is ₹60, which is steady since weekend, say market observers

Cellecor Gadgets IPO price band has been fixed at ₹87 to ₹92 per share. (Photo: Courtesy company website)Premium
Cellecor Gadgets IPO price band has been fixed at 87 to 92 per share. (Photo: Courtesy company website)

Cellecor Gadgets IPO: The initial public offering of Cellecor Gadgets Limited opened for subscription on 15thn September 2023 and it will remain open for bidders till 20th September 2023. So, Cellecor Gadgets IPO subscription is going to end today and hence investors have just few hours in hand to apply for this Sunil Singhania-backed SME issue. Sunil Singhania-owned Abakkus Asset Manager is an investment manager of India Ahead Venture Trust, which is one of the anchor investors of the public offer. The book build issue has been price in 87 to 92 per equity share range and its shares are available in grey market at a premium of 60 in grey market today.

Cellecor Gadgets IPO GMP today

According to market observers, Cellecor Gadgets IPO grey market premium (GMP) today is 60, which is steady since weekend. They said that Cellecor Gadgets IPO GMP at 60 is a good sign despite weakness in secondary market today. They said that since opening of the public offer, Cellecor Gadgets IPO GMP has almost doubled after rising from 33 to 60 per share. They expected further risen in the sentiments as investors of big repute like Sunil Singhania has shown faith in this public issue, which is proposed for listing on NSE SEM exchange.

On what this GMP mean, market observers said, Cellecor Gadgets IPO GMP today is 60, which means grey market is expecting that Cellecor Gadgets IPO listing price would be around 152 ( 92 + 60), which is more than 65 per cent from Cellecor Gadgets IPO price band of 87 to 92 apiece. They went on to add that grey market is signaling that investors may expect up to 65 per cent listing gain from this Sunil Singhania-backed SMKE IPO.

Cellecor Gadgets IPO subscription status

On last day of bidding, the SME issue has been subscribed 116.33 times as it has received bids for 42,70,30,800 shares of the company against its offered 36,70,800 shares, according to The retail portion of the NSE SME IPO has been subscribed 124.08 times.

Sunila Singhani connection

Ahead of the subscription opening on 15th September 2023, Cellecor Gadgets IPO received 14,46,24,000 from four anchor investors — India Ahead Venture Trust, Founder Collective Fund, Meru Investment Fund PCC and AG Dynamics. Out of these four anchor investors, Sunil Singhani owned Abakkus Asset Manager works as investment manager for India Ahead Venture Trust. So, the SME issue has an indirect backing of Sunil Singhani-owned asset management firm.

Cellecor Gadgets IPO details

Cellecor Gadgets IPO allotment date is most likely on 25th September 2023. the book build SME issue is proposed for listing on NSE SME exchange and the most likely Cellecor Gadgets IPO listing date is 28thn September 2023.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 20 Sep 2023, 12:20 PM IST
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