1st Ever 10:1 Stock Split Since Listing: 09th August Record Date; Do You Own The Stock?

A leading company in India's booming electronics and consumer durable goods market is Cellecor Gadgets Limited. One of the top brands in India's consumer electronics market is Cellecor Gadgets Ltd, which sells a wide variety of products under its own brand. Cellecor Gadgets shares were listed on the NSE SME Emerge platform in September 2023 and since its listing, the company has announced its first-ever stock split in a 10:1 ratio on Wednesday.

The Board of Directors of the Company at its meeting held today i.e. Wednesday, 26th June 2024 at the Registered office of the Company situated at Unit No. 703, 7th Floor, Jaksons Crown Heights, Plot No. 3BI Twin District Centre, Sector 10 Rohini, Rithala, North West Delhi, Delhi-110085, inter-alia, considered and approved sub-division/split of company's 1 (one) Equity Share having face value of Rs. 10/- each into 10 (Ten) Equity shares of the company having face value of Re.1/- each, subject to the approval of shareholders and such other approvals as may be required, said Cellecor Gadgets in a stock exchange filing on Wednesday.

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has fixed Friday, 09th August 2024 as Record Date for the purpose of determining the eligibility of Shareholders for the proposed sub - division/split in nominal value of the Equity Shares of the Company," Cellecor Gadgets further informed to NSE platform.

Commenting on the rationale behind the 10:1 stock split, Cellecor Gadgets said the corporate action has been announced "In order to improve the liquidity of Company's Share and to make it more affordable for small investors and also to broaden the company's investor base."

The modification of the capital clause of the company's memorandum of association allowed a share capital of Rs. 22.50 Cr divided into 22,50,00,000 equity shares of Re. 1 /-each, as a result of the sub-division of the face value of the equity shares of the firm.

Cellecor Gadgets Limited recently announced on June 17th that Cellecor Gadgets HK Limited, a wholly owned subsidiary, had been established in Hong Kong. The newly formed organisation will operate as a vital centre for Cellecor Gadgets' operational and key component procurement processes. Through this establishment, the firm aims to further optimise the efficiency of its supply chain and fortify its edge in providing customers with innovative, high-quality, reasonably priced products.

In less than a year, after listing, shares of Cellecor Gadgets have shot up by 230%, and in the past month, the stock has gone up by 30%. The stock made a 52-week-high of Rs 355 on (28-Dec-2023) and a 52-week-low of Rs 88.15 on (28-Sep-2023). The company's securities are listed under the Scrip Code CELLECOR on the NSE EMERGE (SME Platform of National Stock Exchange of India Limited) platform.