Sunil Singhania-Backed SME Cellecor Gadgets IPO Closes Today: What GMP Hints Ahead of Share Allotment?

Cellecor Gadgets Limited's initial public offering began accepting subscriptions on September 15 and ended today, September 20. The book-built IPO for Cellecor Gadgets is worth Rs. 50.77 crores. The entire 55.19 lakh share offering is a new issuance. The pricing range for the Cellecor Gadgets IPO is set at Rs. 87 to Rs. 92 per share. 1200 Shares are the minimum possible lot size for an application hence retail investors must make a minimum investment of Rs 110,400. HNIs must invest at least 2 lots (2,400 shares), or Rs 220,800, each lot. On Monday, September 25, 2023, the Cellecor Gadgets IPO share allotment is anticipated to be completed. The proposed listing date for Cellecor Gadgets' IPO on NSE SME is set for Thursday, September 28, 2023.

Cellecor Gadgets IPO raised Rs 14.46 Cr from four anchor investors - India Ahead Venture Trust, Founder Collective Fund, Meru Investment Fund PCC, and AG Dynamics - prior to the subscription opening on September 15, 2023. Among these four anchor investors, Sunil Singhani, who owns Abakkus Asset Manager, serves as India Ahead Venture Trust's investment manager. Thus, the Cellecor Gadgets IPO is an SME issuance backed by anchor investor Sunil Singhania.

A total of 5,518,800 shares are being offered in the Cellecor Gadgets IPO. 1,834,800 shares or 33.25% of the issue for retail investors, 787,200 shares or 14.26% of the issue for NII category, and 1,048,800 equity shares or the remaining 19.00% of the net issue for QIB portion. During its last day of bidding, Cellecor Gadgets IPO was subscribed 116.33 times. By September 20, 2023 6:57:00 PM, the public issue had received 124.08 subscriptions from retail clientele, 57.58 subscriptions from QIB category, and 176.54 subscriptions from NII investors.

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.

As of September 20, 2023, 4:26 PM, the latest GMP for Cellecor Gadgets SME IPO was Rs 50. The expected listing price for Cellecor Gadgets SME IPO is Rs 142 (cap price plus today's GMP), taking the upper price band of Rs 92.00 into consideration. Thus, according to the grey market experts, Cellecor Gadgets is anticipated to be listed on the NSE SME platform on Thursday, September 28, 2023, at a premium of 54.35% over the issue price.