Cellecor Gadgets Locked In 5% Upper Circuit After FPIs Buying Activity

Cellecor Gadgets' shares began trading on the BSE on Wednesday at Rs 47 per share and quickly surged to lock in a 5% upper circuit limit at Rs 49.50 per share. The market value of the firm was Rs 1,037.91 Cr. With a traded value of Rs 26.41 Cr, the company's total traded volume was 55.32 lakhs. The Cellecor Gadgets shares attracted attraction after FPIs acquired a stake in the company through a preferential offering.

After FPIs bought a stake in the firm through a preferential issuance, the Cellecor Gadgets shares came under attention. In their meeting on Saturday, September 07, 2024, at the company's registered office, the Board of Directors of the company approved, among other things, raising funds by issuing the following securities, subject to shareholder and regulatory approval, in order to accelerate the company's growth and enhance its long-term financial resources.

The Board approved creating, issuing and allotting up to 80 lakh equity shares having a face value of Re.1/- each, to the persons belonging to certain Foreign Institutional Investors, other Strategic Investors, under "Non-Promoter, Public Category, as per a stock exchange filing dated September 07, 2024.

Some of the name(s) of the proposed allottees in the FPI category are Nova Global Opportunities Fund PCCTouchstone, Eminence Global Fund PCC, North Star Opportunities Fund VCC- Bull Value Incorporated VCC Sub-Fund with maximum equity shares allotted were 25,00,000, 25,00,000 and 13,12,500 respectively.

The Board of Cellecor Gadgets also considered and approved issuing and allotting up to 30 lakh fully convertible warrants convertible into an equivalent number of fully paid-up equity shares of the company having a face value of Re. 1/-, to Mrs. Santosh Singhal, belonging to "Promoter Group", on a preferential basis, at an issue price higher than the floor price, as per a regulatory filing.

In preparation for the upcoming festive season, the firm recently revealed that its newest line of laptops and smartphones would be available in September. The company will introduce the Cellecor 5G smartphone, which will come with 64GB or 128GB of storage in addition to expandable memory that runs Android 14.0. Additionally, the company will introduce a cutting-edge laptop that aims to make education affordable. A multipurpose 14-inch laptop with an amazing 1920 x 1080 display, a 256GB SSD, 8GB of RAM, and the latest Intel Alder Lake N95 12th-generation processor is available from Cellecor. A 15.6-inch display, Intel Core i3 10th-Gen 1000NG4 processor, 8GB RAM, and 512GB SSD are the features of one of the two varieties offered by Cellecor. The second model has a 15.6-inch display, Intel Core i5 10th-Gen 1030NG7 CPU, 16GB RAM, and 512GB SSD. Leading shops and online retailers are soon to offer the Cellecor 5G laptop and smartphone.

Cellecor Gadgets has produced multibagger returns of more than 440% over the last year, making it one of the market's best performers. The scrip reached a fresh 52-week-high of Rs 49.60 on (09-Sep-2024) and a 52-week-low of Rs 8.82 on (28-Sep-2023).