Cellecor Gadgets Join Hands With Dixon Technologies To Strengthen Its Manufacturing Capabilities

Following the announcement of Cellecor Gadgets' partnership with Dixon Technologies (India) Limited, a prominent electronic manufacturing services (EMS) provider in India, the company's shares closed 5% up at Rs 58 per share on Tuesday, with a market valuation of Rs 1,216 Cr. By producing high-quality washing machines, this partnership seeks to increase Cellecor's product line and solidify its position in the home appliances market.

Dixon Technologies will use its vast experience and cutting-edge facilities to produce a line of washing machines for Cellecor as part of this agreement. Cellecor's washing machines will be guaranteed to satisfy the highest levels of quality and durability thanks to Dixon's production facilities, which are certified with ISO 9001-2015, ISO 14001-2015, and ISO 45001:2018. This collaboration supports Cellecor's goal of establishing a well-known brand in India by providing innovative, high-quality products at competitive prices.

The goal of this partnership with Dixon Technologies is to improve Cellecor's market position by enhancing its reputation for excellence and fostering innovation. The collaboration marks an important turning point in the company's development and demonstrates Cellecor's dedication to the "Make in India" initiative and its mission to provide top-notch washing machines that satisfy Indian consumers' demands and desires.

Meanwhile, on Tuesday, October 29, 2024 the Board of Directors of Cellecor Gadgets considered and approved the allotment of 80,00,000 equity shares of face value of Re.1/- each fully paid up, for cash, at an issue price of Rs. 40.20/- per equity shares (including a premium of Rs. 39.20/- ) to "Non-Promoter, Public Category" on preferential basis. Ms. Santosh Singhal and other members of the "Promoter Group" have been granted 30,00,000 fully convertible warrants, each of which carries the right of the warrant holder to subscribe for one equity share with a face value of Re. 1/-per warrant at an issue price of Rs. 40.20/-per warrant, provided that they receive the required sum, or 25% of the issue price as subscription capital, in compliance with SEBI.

"Each of the Warrant, so allotted, is convertible into or exchangeable for one fully paid-up equity share having a face value of Re. 1/- (Rupee One Only) of the Company in accordance with the provisions of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, on payment of the balance consideration i.e. 75% of the Warrant Issue Price from the Allottees within 18 months from the date of allotment of these warrants," said the company in a stock exchange filing.

On October 23, Cellecor Gadgets Ltd. announced an array of partnerships with top retail chains in Gujarat and South India. These partnerships are a crucial phase in growing Cellecor's retail presence and increasing customer access to its wide range of products. Cellecor has partnered with Cellbay Mobiles and Electronics Pvt Ltd and Sangeetha Mobiles Private Limited (Wham Infocom Private Limited), two of the leading retail chains in South India. These partnerships would increase Cellecor's footprint in Telangana and Andhra Pradesh and give consumers direct access to a range of products, including mobile phones, smart TVs, smart gadgets, and home appliances.