Gadgets of Tomorrow: Innovations Unveiled

New Delhi: Cellecor Gadgets, a consumer electronics brand has decided to open its initial public offering (IPO) bidding on September 15 and will close on September 20 at a fixed price band of Rs 87-92 per equity share.

The IPO issue comprises the sale of 55.18 lakh fresh equity shares, each with a face value of Rs 10, totaling Rs 50.77 crore. The lot size for the IPO is set at 1,200 equity shares, with each lot priced at Rs 1,10,400 at the upper end of the price band.

Retail investors will be eligible to apply for a single lot, while non-institutional investors have the option to bid for at least two lots.

The proceeds from the IPO will be channeled towards meeting the company’s working capital requirements, general corporate purposes, and covering issue-related expenses. Notably, 2.76 lakh equity shares have been reserved for market maker portions, with SS Corporate Securities and Kantilal Chhaganlal Securities serving as the market makers for the offering.

Ravi Aggarwal, founder of the company said, “The funds raised through this IPO will enable us to further expand our presence and enhance our offerings in the market.”

For the fiscal year ending on March 31, 2023, Cellecor Gadgets reported a net profit of Rs 7.97 crore, with a revenue of Rs 264.37 crore. In the preceding fiscal year ending March 2022, the company had achieved a net profit of Rs 2.14 crore with revenue from operations totaling Rs 121.29 crore.

According to the company, currently the top revenue contributors for the brand are mobile phones (47% of revenue), hearables/wearables (23% of revenue), and accessories.

Formerly known as Unity Communications and a 13-year history in the consumer electronics sector, Cellecor Gadgets was created in 2020. The company is engaged in the procurement, branding, and distribution of a wide range of electronic products, including Smart Televisions, Truly wireless earbuds, smart wearables, mobile phones, mobile accessories, and neckbands.

Currently, Cellecor Gadgets has a network of more than 1,200 service centers and over 800 distributors. Also, it has a presence in over 24,000 retail stores and on online platforms like Amazon and Flipkart.

  • Published On Sep 12, 2023 at 10:53 PM IST

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