Cellecor Gadgets IPO: Day 1: Issue Subscribed 1.81x, GMP Jumps 60% Ahead of Allotment

The subscription period for the Cellecor Gadgets initial public offering (IPO) began on September 15, 2023, and will go to an end on September 20, 2023. According to NSE records, the issue was subscribed 1.81 times on its first subscription day. In contrast to the issue's total size of 39,46,800 shares, a total of 71,32,800 shares were bid on day 1. By September 15, 2023 (Day 1), the public issue had received 3.57 times as many subscriptions in the retail category, 0.00 times in the QIB category, and 1.03 times in the NII category. NII category recorded a total bid of 7,98,000 shares and the retail category recorded a total bid of 63,34,800 shares, which takes the total bid count to 71,32,800.

The initial public offering of Cellecor Gadgets has an issue size of 55,18,800 equity shares, including a market maker portion of 2,76,000 shares and an anchor allocation of 15,72,000 shares. The company hopes to raise Rs. 50.77 Cr. through the IPO at a price range of Rs. 87 to Rs. 92 through a 100% book-building approach. On Monday, September 25, 2023, the Cellecor Gadgets IPO's allocation is anticipated to be completed. The proposed listing date for Cellecor Gadgets' IPO on NSE SME is set for Thursday, September 28, 2023.

Retail investors must deposit a minimum of Rs 110,400 since the minimum lot size for an application is 1200 Shares. HNIs must invest in at least two lots, or 2,400 shares, which is equivalent to Rs 220,800.

The registrar for the Cellecor Gadgets IPO is Skyline Financial Services Private Ltd, while the book-running lead manager is Narnolia Financial Services Ltd. Ss Corporate Securities and Kantilal Chhaganlal Securities are the market makers for the Cellecor Gadgets Initial Public Offering.

According to the grey market, the Cellecor Gadgets SME IPO's latest GMP is Rs 55 as of Sep. 16, 2023, 6:03 AM. The expected listing price for Cellecor Gadgets SME IPO is Rs 147 (upper price band plus today's GMP), taking the upper price band of Rs 92.00 into consideration. Therefore, market observers predict that Cellecor Gadgets would list at a premium of 59.78% over the issue price on its listing day of September 28, 2023, on the NSE SME platform.